PAYMENT AS ELEMENT OF HUMAN RESOURCE MANAGEMENT IN COMPANY

Abstract

Skilled and motivated workers are necessary resources for companies to function properly. Instrument, which has the big influence on workers behavior is payment. Payment is a complex category, because economical aspects coexists and combines with lots of another subjects. One of the payment functions is motivating function. Comparing two main HRM models, we can
see that motivating has wider value in Harward Multiple Stakeholders Model, which based on idea of human relations, than in Michigan Matching Model. To reach profitable motivating effect of payment, the company should provide: proper system of evaluating workers, suitable, in the name of abilities and expectations, awards for effective job and feedback information for
workers. Payments make up important element of human resource management, the company cannot ignore them, if it want to make effective use of it’s resources.