Modeling of Wage Payment System Choosing Task

Abstract

The article proposes the authors’ approach to the assessment of wage payment systems, comparing them with each other and an approach to forecasting the results from the introduction of a particular wage payment system. The article assesses the time-premium and piece-premium wage payment system. To obtain statistical data and approbation of the approach, the Monte Carlo method was used with two different types of distribution of random variables: discrete uniform and normal. Using the regression analysis method, we interpret the data obtained and draw up the conclusions. The main conclusions of the study can be considered as follows: first, the assessment of wage payment systems shall be carried out using the normal distribution. Second, both wage payment systems have advantages and disadvantages, which are clearly shown in numbers. Thus, the systems can demonstrate a positive economic effect, but a negative social one. What to give preference to is already becoming a matter of choice to be made by the management personnel at the enterprises.