MODEL ASPECTS OF EVALUATING EFFICIENCY OF THE PERSONNEL MANAGEMENT AND MOTIVATION

Abstract

This paper proposes methodological aspects of evaluation of organization efficiency of personnel management and motivation on the bases of application of economic and mathematical tools by implementing a three-component algorithmic model. The structural divisions heads’ work effectiveness evaluation is carried out on the basis of econometric systems of structural equations that allow you to rank personality, communicative, innovative, social and corporate managers characteristics that have the greatest impact on the overall performance indicators of the bank staff among which are considered amount of attracted funds; assessment of employee's compliance with the standard; activity efficiency (number of contracts); contribution to development. The obtained modeling results confirm the hypothesis that structural unit managers need to work on the development of their communicative, innovative, personal and social characteristics. Models for analyzing the personnel motivation factors on the bases of the methodology of multivariate statistical factor analysis with initial list of 13 main indicators of staff motivation are proposed; as a result, we set up the aggregated factors that reflect the properties of several motivational components such as financial, social incentives and medical insurance for employees. The model for estimating influence of motivation factors on results of bank's activity on the bases of nonlinear econometric functions is constructed. The regression equation of the motivation factors influence on the bank total profit is obtained. The proposed model toolkit for evaluation of efficiency of management and staff motivation will allow the bank's management to improve motivation and incentives mechanisms in order to raise efficiency of stuff productivity in direction of increasing bank profitability and competitiveness.