Procedures for monetary assessment of the labour component of organizations

¹ Peter the Great St. Petersburg Polytechnic University, 29 Polytechnicheskaya str., St. Petersburg, Russia, 195251
² Voronezh State University of Engineering Technologies, 19 Revolyucii. Avenue, Voronezh, Russia, 394000

^* Corresponding author: kafedra17@rambler.ru

Abstract

To obtain objective information about the level of staff remuneration and the possibilities of making effective managerial, including personnel, decisions, analytical procedures for the monetary assessment of the labour component of the organization have been developed. It is proposed to conduct a monetary assessment sequentially by means of implementing four analytical procedures for comparing the average monthly wage of personnel: with the established minimum wage; with a living wage; with the average wage in the region; with an average wage by type of economic activity. The results of a monetary assessment of the labour component of the Voronezh region sugar factories over a six-year period indicate the economic inappropriateness of using the minimum wage and the subsistence minimum as criteria. First, the values of these indicators do not correspond to the level of economic development of the region and do not provide for the satisfaction of the real needs of the working-age population. Secondly, their use to verify compliance with legal requirements is correct only at the individual level, and not throughout the organization. It was found that the level of staff remuneration in the organizations under study is lower than the regional average in 82% of cases. The results of the sectoral assessment indicate the absence of a unified approach to the remuneration of the personnel of organizations for labour, including those included in one holding.