MONEY AS A RESOURCE OF POWER: PSYCHOLOGICAL ASPECTS OF PERSONNEL MANAGEMENT

Abstract

The article presents a theoretical and analytical exploration of money as a resource of power within the personnel management system from the standpoint of contemporary psychological science. The author substantiates that money, in the context of HR functions, cannot be regarded solely as a material or external motivational factor. Instead, it emerges as a complex psychosocial construct capable of performing functions of latent influence, control, symbolic marking, and institutional regulation. Structurally, the article comprises four sections, each addressing a distinct analytical level — from individual psychological attitudes to the systemic impact of organizational practices. The first section examines the cognitive, moral-ethical, and emotional-behavioral aspects of money psychology, emphasizing the significance of monetary socialization in shaping financial behavior. The second section analyzes money as a socio-psychological mechanism that influences interpersonal dynamics, structures social relations, and acts as a medium for the exercise of covert power. The third section investigates how financial incentives function in HR systems as tools for regulating loyalty, subordination, and behavioral conformity. Special attention is given to Self-Determination Theory, which enables a differentiated assessment of monetary motivation effectiveness depending on contextual and personal characteristics of employees. The final section proposes an original integrative model of money as an instrument of power-based management, encompassing cognitive, motivational, social, and institutional components. The scientific novelty of the article lies in substantiating the multifunctional nature of money as a psychosocial resource of influence, extending beyond the traditional view of material stimulation.The results obtained may contribute to the advancement of theoretical foundations in organizational psychology, the development of effective HR management strategies, and a critical rethinking of the role of financial incentives in shaping power structures within labor collectives.