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A Study of the Motivation of Employees Working in the Financial Sector in Slovakia

Peter Karácsony, Ján Morvai, Henrietta Czibor, József Poór, Imrich Antalík

Abstract


The aim of our present study was to explore the main motivational drivers of employees working for Slovak financial institutions (banking and insurance).  In the research plan, we focused on Herzberg’s motivation theory and the factors described in it. These days, a kind of rearrangement in the intergenerational composition is observed in organizations as more and more younger workers join the labor market.  Young employees are well known to differ drastically from older generations in terms of their values and priorities, so our research sought to gain a deeper understanding of the motivational factors of different generations.  Our primary research was conducted in the form of a questionnaire survey carried out among bank and insurance company employees in Slovakia. The survey had 319 respondents. The results suggest that there is a difference between the generations in terms of motivation: the younger generation is better motivated by challenging, diverse work. For this reason, if the leaders of financial institutions are to retain young, talented employees, these employees must be constantly provided with work that is challenging and give them opportunities for development.


Keywords


Labor Market, Motivation, Herzberg´s theory, Slovakia, Financial Sector

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