Work motivation and satisfaction in the context of economic crisis

Abstract

Especially in the time of worldwide economic crisis it is necessary for companies to realize the importance of human capital and particularly the significance of work motivation and satisfaction of employees in relation to the performance and competitiveness of a company. The economic slump in 2009 was for examined subjects connected with the for companies positive effects in the form of an increased level of employees‘ motivation. Of course, these changes can not be ascribed only to successful work with the human resources, it is at the same time a trend specific for the crisis period. People have started to appreciate more their employers, became more loyal, work willingness and engagement have increased, contrariwise the importance of motivation factors just like financial rewards, bonuses and benefits has decreased. Considering a direct link between work motivation and work performance it is possible to designate the human capital as an important factor on a successful way of companies out of economic crisis.