The Estimation of Remuneration Efficiency in Monopsony: Concerning the Arctic Fishing Industrial Cluster

Abstract

At present, new financial mechanisms of interaction between employees and employers in the context of market relations are being formed and improved in Russia. The decisive factor in workers’ per-formance is their financial motivation and stimulation. The determinative of productivity of an enterprise activity is remuneration efficiency as a base of laborers’ financial motivation and stimulation. The remuneration is a flexible element of distributive relations and it is impossible to create an effective motivational mechanism without an establishment of its communication with final results. Such indices as salary distribution and salary intensity as basic indicators of wage efficiency assessment have been used in the paper. The object of the research is sixteen large and medium-sized fishing enterprises in the Arkhangelsk region as a part of the Arctic fishing cluster. These enterprises catch fish in the Barents and Norwegian seas, as well as in the North Atlantic. It has been shown that the financial results of fishing enterprises depend on external conditions — primarily on the quotas for fish catch and the price of fish products. In the research, the authors have proceeded from the following hypotheses: the Arctic fishing cluster’s enterprises operate in a monopsony on the labor market; there is a pattern between the size of wage fund and financial performance of the Arctic fishery cluster enterprises; the change in wage fund is an effective mechanism to improve the efficiency of the Arctic fishery cluster. In the course of the research, the following interrelated tasks have been solved: the identification of the features of the Arctic fishing cluster’s labor market; the assessment of the effectiveness of the wage fund use for the Arctic fishing cluster’s enterprises based on the author's methodology; the identification of the importance of the problem of insufficient efficiency of wage fund use in the Arctic fishing cluster.