NEW METHODS OF EMPLOYEE MOTIVATION IN DIGITAL ECONOMY IN THE BANKING INDUSTRY IN AZERBAIJAN
NEW METHODS OF EMPLOYEE MOTIVATION IN DIGITAL ECONOMY IN THE BANKING INDUSTRY IN AZERBAIJAN

Summary/Abstract: The banking industry in Azerbaijan is facing a digital transformation that demands new methods of employee motivation to keep pace with the changing business environment. This study aims to investigate the effectiveness of new methods of employee motivation in the digital economy, with a focus on incentives and rewards, leadership, and digital technology, and their impact on employee motivation and job satisfaction. The study employs a survey technique and quantitative research methods to collect and analyze data from banking industry employees in Azerbaijan. The findings of this study suggest that the banking industry in Azerbaijan should adopt new methods of employee motivation that are better aligned with the digital economy. The study recommends that banking industry employers in Azerbaijan should use incentives and rewards to motivate their employees, including recognition, promotions, and bonuses, and should not rely solely on monetary rewards. The study also suggests that employers should adopt transformational leadership styles that set high expectations, provide feedback, and support, and empower employees to take ownership of their work.

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