PROMOTION OF WORK IN ENTERPRISES AND ORGANIZATIONS

Adam Smith, one of the founders of economics, argued in his famous work The Wealth of Nations that wages depend on the laws of supply and demand in the labor market [1]. He believed that wages are determined by the difficulty and necessity of the work, and these factors encourage employees to learn new skills and develop themselves. The motivational effect of wages is of great importance in terms of increasing the labor efficiency of employees in an enterprise, creating fair and competitive conditions for them, and strengthening their loyalty to the enterprise. [1] Smith A. Issledovanie o prirode i prichinax richatka narodov. - Litres , 2011.