Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work

Motivating employees with different characteristics has a significant effect on company performance. This paper models the relationship between employer and heterogeneous employees working in pairs as a principal-agent problem. Every worker can encounter moral hazard with regard to the stimulation o...

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Autores principales:	Talajić Mirko, Vrankić Ilko, Kopal Robert
Formato:	article
Lenguaje:	EN
Publicado:	Sciendo 2021
Materias:	employee motivation principal-agent problem efficient work replicator dynamics expected average costs of efficient work c02 c73 d01 Business HF5001-6182
Acceso en línea:	https://doaj.org/article/6133359ff6504f17a73a9e78852eb32f
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spelling	oai:doaj.org-article:6133359ff6504f17a73a9e78852eb32f2021-12-05T14:11:11ZAnalytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work1849-116210.2478/zireb-2021-0012https://doaj.org/article/6133359ff6504f17a73a9e78852eb32f2021-11-01T00:00:00Zhttps://doi.org/10.2478/zireb-2021-0012https://doaj.org/toc/1849-1162Motivating employees with different characteristics has a significant effect on company performance. This paper models the relationship between employer and heterogeneous employees working in pairs as a principal-agent problem. Every worker can encounter moral hazard with regard to the stimulation of the employer and the efficient work of co-workers. Employee behavior describes a reaction function based on which the equilibrium of appropriate pairs of employees and their overall effective performance is described. The employer determines the optimal stimulation that minimizes the expected average cost of effective work for each individual group of employees. The total expected average cost of efficient work of the entire company in the short run depends on the distribution of employees with different characteristics. How the attitude of employees towards work in the long run changes is described by replicative dynamics and shows that the stability of the employee population is achieved in two cases where the long-run total expected average cost of efficient work is differentiated by approximately eight percent. This paper describes a new conceptual framework for quantitative analysis of the effects of motivation on the short and long run financial results of an enterprise.Talajić MirkoVrankić IlkoKopal RobertSciendoarticleemployee motivationprincipal-agent problemefficient workreplicator dynamicsexpected average costs of efficient workc02c73d01BusinessHF5001-6182ENZagreb International Review of Economics and Business, Vol 24, Iss 2, Pp 77-104 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	employee motivation principal-agent problem efficient work replicator dynamics expected average costs of efficient work c02 c73 d01 Business HF5001-6182
spellingShingle	employee motivation principal-agent problem efficient work replicator dynamics expected average costs of efficient work c02 c73 d01 Business HF5001-6182 Talajić Mirko Vrankić Ilko Kopal Robert Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
description	Motivating employees with different characteristics has a significant effect on company performance. This paper models the relationship between employer and heterogeneous employees working in pairs as a principal-agent problem. Every worker can encounter moral hazard with regard to the stimulation of the employer and the efficient work of co-workers. Employee behavior describes a reaction function based on which the equilibrium of appropriate pairs of employees and their overall effective performance is described. The employer determines the optimal stimulation that minimizes the expected average cost of effective work for each individual group of employees. The total expected average cost of efficient work of the entire company in the short run depends on the distribution of employees with different characteristics. How the attitude of employees towards work in the long run changes is described by replicative dynamics and shows that the stability of the employee population is achieved in two cases where the long-run total expected average cost of efficient work is differentiated by approximately eight percent. This paper describes a new conceptual framework for quantitative analysis of the effects of motivation on the short and long run financial results of an enterprise.
format	article
author	Talajić Mirko Vrankić Ilko Kopal Robert
author_facet	Talajić Mirko Vrankić Ilko Kopal Robert
author_sort	Talajić Mirko
title	Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
title_short	Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
title_full	Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
title_fullStr	Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
title_full_unstemmed	Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
title_sort	analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work
publisher	Sciendo
publishDate	2021
url	https://doaj.org/article/6133359ff6504f17a73a9e78852eb32f
work_keys_str_mv	AT talajicmirko analyticalapproachtotheinfluenceofmotivationonthedynamicsofheterogeneousemployeesandexpectedaveragecostsofefficientwork AT vrankicilko analyticalapproachtotheinfluenceofmotivationonthedynamicsofheterogeneousemployeesandexpectedaveragecostsofefficientwork AT kopalrobert analyticalapproachtotheinfluenceofmotivationonthedynamicsofheterogeneousemployeesandexpectedaveragecostsofefficientwork
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Analytical approach to the influence of motivation on the dynamics of heterogeneous employees and expected average costs of efficient work

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