EMPLOYEE MOTIVATION AND AWARD SYSTEM IN THE FUNCTION OF PERFORMANCE AND IMPROVEMENT OF BUSINESS IN COMPANIES ON THE EXAMPLE OF FINANCIAL COMPANY
EMPLOYEE MOTIVATION AND AWARD SYSTEM IN THE FUNCTION OF PERFORMANCE AND IMPROVEMENT OF BUSINESS IN COMPANIES ON THE EXAMPLE OF FINANCIAL COMPANY

Summary/Abstract: In a time of rapid change and challenges, fierce competition in the market, technological progress, globalization, demographic change, companies are required to build their business on the basis of human resources while in a constant struggle for survival and development. Through their actions, employees as an intellectually gifted species and a resource of crucial importance for existence and for all organizational activities, strive to mobilize all resources. Without investing in them, through education and strengthening their motivation, the company can only achieve short-term business results. The aim of this paper is to point out the importance of continuous motivation through the system of rewarding and educating employees as the key to the success of efficient and effective business, high productivity and added value for both the company and employees. An example of good business practice from a large financial company will be presented. The subject of the paper is based on the importance of motivation for personal satisfaction of employees, their behavior, individual performance, and overall success of the organization in achieving goals, with an adequate reward system and the application of QLW new reward model.

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