Motivation as an Element of Managerial Decision Making in Manufacturing Companies: The Case of the Slovak Republic

Abstract

On an international scale, it can be argued that the key currency of business entities is human resources. They are a dominant part of corporate assets. They are also decisive determinants of competitiveness if they work with adequate performance, which is influenced by motivation. Managers are aware of this and pay increased attention to the study of factors that increase the performance and motivation of employees. In Slovakia, the importance of human resources increased gradually after the transformation of the economy to market conditions; currently, the management of human resources corresponds to international standards. However, it is necessary to increase attention in the management of some areas that personnel managers have competence in. Motivation can be included among these. The submitted contribution deals with the motivation of employees, as the subject area is not sufficiently addressed in the conditions of the Slovak Republic. According to the analysis of motivational processes in selected manufacturing companies operating in Slovakia, changes are proposed in the motivational system to increase employee motivation. The aim is to reveal the important aspects of motivational policy. To achieve the research objective, a qualitative study of data collection was carried out using an unstructured questionnaire survey. A questionnaire was used to develop the hypotheses. After data collection, established hypotheses were tested using the chi-square test of independence. The data were analysed using descriptive and inferential statistics. According to the analysis, proposals for changes in the incentive system were developed. The recommendations are presented in the form of individual concrete proposals and measures in various areas within motivational processes, which, after implementation, have the potential to increase the level of employee motivation.