Introduction. Today in Ukraine doesn’t have established wages system that’s why this issue requires in-depth study despite the large number of research scientists in the field of personnel motivation. The purpose of the paper is to find ways to increase the competitiveness and productivity of enterprises of “Ukrzaliznytsia” through the introduction of a modern efficient wages system. Results. In the process of the research conclusions were drawn that “Ukrzaliznytsia” in the process of corporatization should build its own system of personnel motivation wich could be able to fully take into account the specifics of this activity and its implementation translate into more effective of personnel productivity with the main goal: to increase external competitiveness. Conclusion. As compared to the experience of the leading countries of the world on the railway in Ukraine the level of personnel motivation of railway industry is very low. “Ukrzaliznytsia” should change own system of labor motivation with using maximum approximation to the features of activities and objective economic realities in the country. Therefore, the introduction and application of innovative forms of motivating own employees in “Ukrzaliznytsia” should ensure the dependence of wages of employees and the results of their work. The correct and complex application of motivational methods in the context of corporatization of “Ukrzaliznytsia” can provide an increase in employee productivity.