CORRELATION BETWEEN SALARY AND PERFORMANCE OF TOP-MANAGERS OF STATE-OWNED COMPANIES

R. V. Gubarev (), Ye. I. Dzyuba () and F. S. Faizullin ()

Economics of Contemporary Russia, issue 2

Abstract: The research is devoted to improving the efficiency of management at the corporate level with the position of the controlling subsystem. Proposed and proved the hypothesis about the absence in modern Russia (on the example of the oil and gas sector of the national economy) a strong direct dependence of the level of remuneration of management the effective management of the company. The effect of this situation is the low degree of motivation management in the effective management of commercial organizations controlled by the state. According to the authors, change can be achieved through the development and implementation of methodology for determining the economically justified remuneration of the management of state-owned companies. The process of development and application of appropriate methodology is carried out in several successive stages: 1) a system of private key performance indicators (KPI). If necessary, is the normalization of their values; 2) the method of expert estimates are determined by weighting factors to corporate KPI; 3) based on the calculation of the integral of the (generalized) indicator of efficiency of activities of an economic entity carried out a quantitative assessment of management efficiency state-owned company; 4) produced a clustering of economic entities depending on the level of management effectiveness based on the qualitative interpretation of the results of previously conducted quantitative evaluations; 5) use of economic-mathematical modeling (game theory) developed progressive scale: the integral of the (generalized) indicator of the efficiency of state-owned companies-the level of bonuses of the management of the business entity and 6) calculated economically justified amount of bonus payments to management of state-owned companies. The development of a progressive scale is a “core†techniques (playing the key role), because, on the one hand, aims to provide “interest†of top managers in the effective management of the state company, and on the other hand support an efficient (rational) use of Fund their bonuses.

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