Motivational Elements of Employees as a Competitive Advantage of Companies in the Conditions of Globalization

The article analyzes with the analysis of the influence of incentive elements on the motivation of workers to better performance and satisfaction, across the whole active population in the context of the new economy. For specific generations, motivational incentives are diverse. The main reasons of using the award, recognition of the performance and motivation are long-term sustainable good relationships in the workplace, as well as demonstrable work successes and, last but not least, an increase in the success of the whole company. Different incentive elements also used in the Slovak Republic and other European Union countries. A majority motivation characterizes Slovakia through financial evaluation. However, recent years indicate a change of mindset of employers and employees. The population of the Slovak Republic is ageing, the retirement age is increasing, which demographically affects the development of the labour market. The age structure of the society suggests that everyone has a better performance stimulant. Motivating incentives that can offset the employee’s financial remuneration become a competitive advantage for businesses. Recently, the state has been helping businesses to stimulate employees properly through holiday vouchers. In the future, it expected that it would be just incentive elements that will attract potential employees to companies and secondly it will be the financial evaluation of the employee. Slovak society can be inspired in many ways by other European Union countries. In contrast, the Slovak Republic still has many professionals in the areas of health, education, engineering, and many others. The paper points to changes related to the demographic development of the company, the change of motivation for permanent and new employees. The aim is to anticipate the possible development of incentives and the incorporation of new elements of motivation into human resource management in companies. Autoregres prepared in MATLAB. The article deals with the prediction of the selection of individual incentives for specific age groups of employees.

Maria Zilincikova & Katarina Repkova Stofkova, 2020. "Motivational Elements of Employees as a Competitive Advantage of Companies in the Conditions of Globalization," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 6(5), pages 16-24, July.

Handle: RePEc:mgs:ijmsba:v:6:y:2020:i:5:p:16-24
DOI: 10.18775/ijmsba.1849-5664-5419.2014.65.1002

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