August 4, Minsk /BELTA/. Salaries in state-owned organisations will only be increased if labour productivity grows at a faster rate. This is stipulated by Resolution of the Council of Ministers of July 31, 2014, No. 744 "On Remuneration of Labour", the Belarusian government's press service informed BELTA.
August 4, Minsk /BELTA/. Salaries in state-owned organisations will only be increased if labour productivity grows at a faster rate. This is stipulated by Resolution of the Council of Ministers of July 31, 2014, No. 744 "On Remuneration of Labour", the Belarusian government's press service informed BELTA.
The Resolution stipulates that in state-owned organisations, the growth of nominal accrued average monthly wages of employees is permitted only on the condition of a faster growth in labour productivity. If this condition is not met, the wage fund for the reporting month shall be reduced to a level that ensures a ratio of labour productivity growth to wages of at least 1.0.
"The norms of the Resolution should encourage organisations not only to produce products, goods, works, and services, but also to sell them, which will contribute to reducing warehouse stocks and increasing organisations' revenues. In this regard, revenue from the sale of products, goods, works, and services per average listed employee has been determined as an indicator for determining labour productivity in organisations," the press service noted.
The government recommends that all commercial organisations, regardless of their ownership, be guided by the principles established by economic theory and the Resolution.
The Resolution also establishes a unified procedure for paying bonuses for organisations of all forms of ownership. In order to reduce the gap in remuneration between managers and employees of commercial organisations, the Resolution stipulates that when calculating the ratio coefficient, annual bonuses paid to managers of such organisations exceeding 12 salaries shall be taken into account. "At the same time, the amount of the annual bonus for managers of state-owned organisations is limited to 12 salaries. Organisations of all forms of ownership have been informed that the wage gap between a manager and employees should not exceed 8. This norm is aimed at ensuring social justice and business responsibility," the press service emphasised.
The National Bank has been recommended to adhere to similar approaches regarding the remuneration of bank executives and employees.-0-
News of Belarus (BELTA)