Accounting

2012-03-08

How to rationalize wage stimulation?

How to rationalize wage stimulation?[1]

             Arrangement of accounting work is variety, obviously tremendous queries incur for accountants in practice, which requests to apply for professional advice, some of them solve difficulties in one’s own fashion & also others pass it over in silence. Wage is one component of both direct expenses through which meets combined economical interests as of individuals & also labor collectives, that requires rather fair, rational, motivated & time-server leverage for  wage incentive. Employee as of member of labor team admits one’s joint responsibilities for making a real contribution to labor achievements of one’s aims to others. People who copies others intellectual writings & repeats the action of an others are often out of step with the times. Obviously the ultimate financial result of any company expresses by means of as following combined & condensed showings as: efficiency of labor, income growth, net income per unit share or economy per price cost of product sold, & also reduction of unproductive expenses. In order to raise productivity of labor to employees, give moral support them & to encourage them usually notifies labor collective fund of stimulation from company Board of directors. By the way in Mongolia have practiced prioritizing one’s earned scores by economics entities, grants a title of top entity & elevates to higher rank. Managers & accountants often suffer troubles related to allocate collective fund of stimulation or joint responsibility for compensation fairy & honestly, arrange in order of scores collected by prize-competitors according to contribution made to collective labor result & collective valuables. We have used[2] an elements of weighted mean (scores) & inverse factor ratio index to solve above mentioned problem without dispute about the allocation of encouragement between team workers as possible & satisfy economic interest equilibrium as of joint participants. Thus this method which expresses contribution paid into collective labor result would be used in distribution of any other money fund via meeting economic interest equilibrium between some parties concerned. However scholars, financial analysts & mathematicians couldn’t find most feasible approaches & established notion to solve simple, also on the other side puzzled above cited question so far. 

            Assume, Board of directors of company АВС decided to award worth 5 million MNT for five staffs of accounting department depending on obtained financial results for 2011. Staffs have agreed to allocate sum of bonus between department staffs in subject with following indicators, which could be demonstrated everybody’s contribution into collective labor achievements as: economical returns of introduced innovation & know how; productive spending of working time, in %; length of permanent service, years; number of printer’s sheets of one’s papers & articles got published; realization of planned work for current year, in % etc.

                                                                                                                                           Table1

            Indicators

Numbering of financial department staffs

 

 Sum

        1

      2

      3

      4

     5

   First marks given by corporate governance,   p(x)

 

0.15

 

 0.20

 

0.25

 

0.18

 

0.22

1.00

 

Marks ensured by independent experts

 

  x1

   0.50

  0.40

   0.50

  0.50

  0.50

 

  x2

  0.60

  0.40

   0.50

  0.55

  0.60

  x3

  0.75

  0.60

   0.60

  0.70

  0.65

  x4

  0.50

  0.65

   0.70

  0.60

  0.60

  x5

  0.85

  0.70

   0.90

  0.80

  0.90

Marks by means of integral coefficient, y = x1ּ x2ּ x3ּ x4ּ x5

 0.095625

 0.04368

 0.0945

 0.1155

 0.1053

Conditional marks, p(x)y

1.434375

  0.8736

2.3625 

2.079 

2.3166

9.066075*

Final marks, %

15.82

9.64

26.06

22.93

25.55

  100.00

 

  Taking of places

First marks

    

     V

   

    III

    

      I

    

     IV

   

    II

 

Final marks

    

     IV

   

    V

   

     I

   

    III

   

    II

     E(x) = y1ּp(x)1 + y2ּp(x)2 +ּּּ+ y5ּp(x)5 = 0.15 ּ 0.095625 + 0.20ּ 0.04368 +ּּּ+ 0.22ּ 0.1053= 9.066075*.

            Allocation of bonus in prioritizing with taking of places                               Table2

Indicators

Numbering of financial department staffs

 

Sum

 

1

2

3

4

5

First marks

p(x)

0.15

0.20

0.25

0.18

0.22

1.00

Bonus

750,0

1,000,0

1,250,0

900,0

1,100,0

5,000,0

Final marks

%

15.82

9.64

26.06

22.93

25.55

100.00

Bonus

791,1

481,8

1,302,9

1,146,6

1,277,6

5,000,0

Difference in bonus

41,1

-518,2

52,9

246,6

177,6

0

             Let us assume, have been chosen following indicators for prioritizing in order of collected scores:

·         x1 = economical returns of introduced innovation & know how,  

·         x2 = productive spending of working time, in %,

·          x3 = length of permanent service, years, 

·          x4 = number of printer’s sheets of got one’s papers & articles published, 

·         x5 = realization of planned work for current year, in %,

Would be used inverse factor ratio index in occasion of stimulation of saving on the material expenses.

 


[1] All rights reserved

[2] T.Yondon., Gombo. Dariimaa ”Analysis of human resources management”, 2011


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