engleski

COMPENSATION MANAGEMENT AS A TOOL FOR ATTAINING EMPLOYEES SATISFACTION, EFFICIENCY AND PUBLIC INTEREST IN UTILITIES BUSINESS

This article aims to identify the compensation management possibilities to increase efficiency as well as the satisfaction of employees in the utility business sector. In the Republic of Croatia, companies involved in utilities are mainly legal entities that are fully or partially owned by the state, regional or local self-government units. Their funding is secured through national, regional or local budgets, thus exposing them to a high degree of public perception and expectations. The premise of this article is the necessity to change how standards of efficiency, quality of work, flexibility, rationalization and optimization of the costs are being achieved. The necessity arises from the need for fulfilling the public interest in the most responsible and the best way possible. The use of market-oriented compensation management practices is expected to be the key to obtaining the change and sustainability of such public entities. For theoretical framework comprehension, the research of relevant scientific literature has been conducted. The empirical part of the research originated from the survey based on a questionnaire applied to a utility company. The research identified that the reward and motivation system for employees to achieve both expected and outstanding results of work in the observed sample is either non-existent or ineffective, which hinders the achievement of higher standards in activities of public interest.

compensation management, motivation, efficiency, utilities, public interest

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