Effect of motivational tools on employee satisfaction in small and medium enterprises
DOI:
https://doi.org/10.24136/oc.v8i1.8Keywords:
motivation, motivation factors, motivation tools, small and medium-sized enterprises, SlovakiaAbstract
Research background: This paper begins by defining the small and medium-sized enterprises and their background in Slovakia. It explores the roles of SMEs in the economic development. Furthermore, the background of the paper analyzes motivational tools in practice.
Purpose of the article: The purpose of the paper is to provide a better understanding of the employee motivation issues in small and medium-sized Slovak enterprises; an examination of the motivational tools that influences the levels of satisfaction of employees of SMEs.
Methods: This research was conducted with members of small and medium enterprises in Slovakia. A personal information form and the motivation factors questionnaire form were used as data collection tools. The ending contains the results of the research and conclusions. The Pearson-correlation and the Asymptotic Significance (2-sided) were used as statistical methods.
Findings and Value added: The findings show that motivation is very individual and managers have a hard task by motivating their employees. Employees are more motivated by intrinsic factors rather than extrinsic, but none of the two can be overlooked by the managers.
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References
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European Commission. (2016). Retrieved from http://ec.europa.eu/ (13.12.2016).
Falcone, P., & Tan, W. (2013). The performance appraisal tool kit: redesigning your performance review template to drive individual and organizational change. Amacom.
Funta, R. (2007). Internal market law: basic. Trnava: Kon-press.
Grabara J. K., Kot S., & Pigoń Ł. (2016). Recruitment process optimization: chosen findings from practice in Poland. Journal of International Studies, 9(3). doi: 10.14254/2071-8330.2016/9-3/17.
Havierniková, K., Srovnalíková, P., Janský, B. (2015). Identification of clusters? potential in regions. Actual Problems of Economics, 169(7).
Jeřábek, Z., & Čapošová, E. (2016). Institutional changes and qualification requirements of a company. Polish Journal of Management Studies, 14(2). doi: 10.17512/pjms.2016.14.2.09.
Kačerová, E. (2016). Risk factors of young graduates in the competitive EU labor market at the end of the current economic crisis. Journal of Competitiveness, 8(3). doi: 10.7441/joc.2016.03.03.
Kooser, C. A. (2016). Work motivation factors. Retrieved from http://smallbusiness.chron.com/work-motivation-factors-1887.html (13.12.2016).
Kordoš, M. (2016). Common aspects of the European union cluster and competition policies. In Proceedings of the 1st international conference contemporary issues in theory and practice of management. Czestochowa: Wydawnictvo Wydzialu Zarzadzania Politechniki Czestochowskiej.
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Krumrie, M. (2016). Managers as motivators: effective motivational tools. Retrieved from https://www.monster.com/career-advice/article/effective-motivational-tools (13.10.2016).
Koráb, V., & Koudelková, P. (2016). What determines innovation in small and medium enterprises? A case study from the Czech Republic. Transformations in Business & Economics, 15(2).
Kumar, V., Aaker, D. A., & Day, G. S. (2002). Essentials of marketing research. John Wiley & Sons, Inc.
Lelek, T. (2014). Trend analysis of human resources development representing the base for researchers in selected economies. Journal of Competitiveness, 6(1). doi: 10.7441/joc.2014.01.05.
Llopis, G. (2012). The top 9 things that ultimately motivate employees to achieve. Forbes. Retrieved from http://www.forbes.com/sites/glennllopis/2012/06/04 /top-9-things-that-ultimately-motivate-employees-to-achieve/#163715e74fa7 (13.10.2016).
Mačerinskien?, I., Mačerinskas, J., & Aleknaviči?t?, R. (2016). Change of national intellectual capital in EU countries. Montenegrin Journal of Economics, 12(4). doi: 10.14254/1800-5845/2016.12-4.6.
McQuerrey, L. (2016). 7 Techniques for Increasing Motivation. Retrieved from http://smallbusiness.chron.com/7-techniques-increasing-motivation-55420.html (13.12.2016).
Megyesiová, S., & Hajduová, Z. (2012). Demographic challenges across the European Union member states. Workplace Health & Safety, 60(7). doi: 10.1177/216507991206000706.
Merkevičius, J., Davidavičiené, V., Raudeli?niené, J., & Buleca, J. (2015). Virtual organization: Specifics of creation of personnel management system. E & M Ekonomie a Management, 18(4). doi: 10.15240/tul/001/2015-4-014.
Michalski, G. (2015). Agency costs in small and medium wood industry enterprises with full operating cycle and cash levels. Procedia Economics and Finance, 34. doi: 10.1016/S2212-5671(15)01655-X.
Report on the state of small and medium enterprises in the Slovak Republic 2013. Retrieved from http://www.sbagency.sk/en/state-of-small-and-medium-entreprises (13.01.2017).
Report on the state of small and medium enterprises in the Slovak Republic 2014. Retrieved from http://www.sbagency.sk/en/state-of-small-and-medium-entreprises (13.01.2017).
Report on the state of small and medium enterprises in the Slovak Republic 2015. Retrieved from http://www.sbagency.sk/en/state-of-small-and-medium-entreprises (13.01.2017).
Scheiner, C. W. (2015). The motivational fabric of gamified idea competitions: The evaluation of game mechanics from a longitudinal perspective. Creativity and Innovation Management, 24(2). doi: 10.1111/caim.12115.
Shuaibu, M., & Oladayo, P. T. (2016). Determinants of human capital development in Africa: Apanel data analysis. Oeconomia Copernicana, 7(4). doi: 10.12775/OeC.2016.030.
Spišáková, E. D., Gontkovičová, B., & Hajduová, Z. (2016). Education from the perspective of the Europe 2020 strategy: The case of southern countries of the European Union. Economics & Sociology, 9(2). doi: 10.14254/2071-789X.2016/9-2/18.
Sueldo, M., & Streimikiene, D. (2016). Organizational rituals as tools of organizational culture creation and transformation: A communicative approach. Transformations in Business & Economics, 15(2).
Šúbertová, E. (2013). Impact of changes in selected economic instruments for input prices in the Slovak enterprises. In Š. Majtán (Ed.). Aktuálne problémy podnikovej sféry. Bratislava: EKONÓM.
Šúbertová, E. (2016). Credit co-operatives in Slovakia. In S. Karafolas (Ed.). Credit cooperative institutions in European countries. Springer International Publishing. doi: 10.1007/978-3-319-28784-3_22.
Thibodeaux, W. (2016). Tools of motivation for employees. Retrieved from http://smallbusiness.chron.com/tools-motivation-employees-18389.html (13.12.2016).
Tizazu, K. (2015). Employee motivation and its effect on employee retention in Ambo mineral water factory. International Journal of Advance Research in Computer Science and Management Studies, 3(3).
Vetráková, M., & Smerek, L. (2016). Diagnosing organizational culture in national and intercultural context. E & M Ekonomie a Management, 19(1). doi: 10.15240/tul/001/2016-1-005.
Závadský, J., Hitka, M., & Potkány, M. (2015). Changes of employee motivation of Slovak enterprises due to global economic crisis. E & M Ekonomie a Management, 18(1). doi: 10.15240/tul/001/2015-1-005.
2013 SBA fact sheet Slovakia (2013) Retrieved from http://www.sbagency. sk/sites/default/files/sba_fact-sheet_slovakia-2013_en.pdf (13.12.2016).
2014 SBA fact sheet Slovakia. (2014) Retrieved from http://ec.europa.eu/Docs Room/documents/16121/attachments/34/translations/en/renditions/native (13.12.2016).
2015 SBA fact sheet Slovakia. (2014) Retrieved from http://ec.europa.eu/Docs Room/documents/16344/attachments/30/translations/en/renditions/native (13.12.2016).
