Management Theory and Studies for Rural Business and Infrastructure Development, Volume 24

Critical issues for compensation and incentives management: theoretical approach

Ramunė Čiarnienė, Milita Vienažindienė

Abstract

For most people, pay is a primary reason for working. Indeed, compensation is at the core
of any employment exchange, and it serves as a defining characteristic of any employment relationship.
The study focuses on critical points of compensation and incentives management. The
fundamentals of a good incentive program include the elements of vision, potential, communication
and motivation and can be realized if incentive promises are fulfilled – by both employer
and employee. The aim of the paper is to identify the most important attributes of compensation
and incentives management. Research method is the analysis and synthesis of scientific literature,
logical, comparative and graphic representation. On the base of analysis, authors of this paper
present the model of incentive system for positive employee attitudes and behaviors.

Keyword(s): compensation, employees, incentives, management


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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355

This journal is published under the terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License. Responsible editor: Dr Audrius Gargasas.