Motivation is a key factor in enhancing organizational productivity, performance, and competitiveness. Despite the extensive research on this issue, motivation remains a challenge that companies seek to fully understand how they could put it into practice. In this article, we delve into Vroom's expectancy theory, which relies on the impact of valence (is it worth it?), instrumentality (what do I get out of it?), and expectancy (am I capable?) on employee motivation in Tunisia. The study was conducted at ABCD Bank, a Tunisian-based banking establishment with branches spread across Tunis and nearby towns. The research sample comprised 416 participants from various job positions. The results of SEM analysis showed that employee motivation was significantly affected by expectancy, extrinsic instrumentality, and extrinsic valence. However, both intrinsic instrumentality and valence have a positive impact, but insignificant, on employee motivation. The study provided several implications for bankers and scholars on extrinsic and intrinsic factors affecting employee motivation.