The Underlying Issue Behind Russia’s Prevailing...

THE UNDERLYING ISSUE BEHIND RUSSIA’S PREVAILING COMPENSATION SYSTEM: AN ANALYSIS OF THE CURRENT RUSSIAN COMPENSATION SYSTEM A Term Paper Presented to the Faculty of European University In Partial Fulfillment of The Requirements for Human Resource Management By: Osanna Nazaretyan 14 March 2011 Promoter: Prof. Tina Huesing THE UNDERLYING ISSUE BEHIND RUSSIA’S PREVAILING COMPENSATION SYSTEM Table of contents Abstract Introduction Which are the major challenges in the prevailing compensation system in the Russian Tourism industry? The Theories of Motivation Herzberg’s Two Factor Theory Expectancy Theory by Victor Vroom Conclusions – Recommendations References 5 6 6 8 11 13 3 4 Table of†¦show more content†¦(This is coming as a bi-product of long communist political setup in the country) (Berger O. Nancy, 2000). Nazaretyan Osanna, EU Munich, HRM 4 THE UNDERLYING ISSUE BEHIND RUSSIA’S PREVAILING COMPENSATION SYSTEM 2) Performance and Membership Pay: Will the compensation emphasize in the performance or in the membership one has with the company? Unfortunately, in the Russian Tourism industry it is more dependent on the membership with the company than the actual performance of individuals (Puffer and Shekshnia, 1997). 3) Job and Individual Pay: Is the pay dependent on the quality and quantity of job an employee is doing, or on the skill set the employee has, that he brings along with him to the company? According to my experience, in Tourism industry the pay is based on the performance of an employee, not on the skills. 4) Open and Secret Pay: Will the employees have access to information about other workers compensation levels and how are compensation decisions been made (open), or will this stay hidden from the employees (secret). As being confirmed from my colleagues - in the Russian Tourism industry a mix of both, open as well as secret pay system, is practiced. Which are the major challenges in the prevailing compensation system in the RussianShow MoreRelatedRisk Mitigation Using Joint Venture Agreement in the Upstream Petroleum Industry15328 Words   |  62 Pagessupervisor Professor Alexander Kemp, for the professional advice throughout my dissertation and for lending his wealth of experience from which I gained tremendous knowledge and a structured approach to complete this dissertation. To the University system for making available a world class library with all the relevant literatures from which I was able to improve on my existing knowledge. Appreciation to my Family, My Mother, Mojisola Ogundipe, my expectant Wife, Adeola Sode, our baby girl, IyinoluwaRead MoreInstitution as the Fundamental Cause of Long Tern Growth39832 Words   |  160 Pagesgreater de facto political power. We therefore view the appropriate theoretical framework as a dynamic one with political institutions and the distribution of resources as the state variables. These variables themselves change over time because prevailing economic institutions affect the distribution of resources, and because groups with de facto political power today strive to change political institutions in order to increase their de jure political power in the future. Economic institutions encouragingRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesmain text of this book includes 87 short illustrations and 15 case examples which have been chosen to enlarge speciï ¬ c issues in the text and/or provide practical examples of how business and public se ctor organisations are managing strategic issues. The case studies which follow allow the reader to extend this linking of theory and practice further by analysing the strategic issues of speciï ¬ c organisations in much greater depth – and often providing ‘solutions’ to some of the problems or difï ¬ culties