The Impact of Motivating and Stimulating Generation Y Employees on Company Performance

Abstract

In today's global market, companies are faced with competition. Employees are a key factor in an enterprise’s performance. Human resource management is the overall system of personnel techniques that results in an organization’s prosperity. One of its elements is motivating and stimulating employees. Organizations need to determine the best way to motivate and stimulate their employees. Forms of motivation and stimulation have been changing with the advent of Generation Y. Members of Generation Y are often referred to as echo boomers, the internet generation, iGen, or the net generation. In comparison to Generation X, members of Generation Y are more technologically savvy due to growing up in the information age and are very good at using media in everyday life. Effectively motivating and stimulating these workers can help businesses develop innovation, contribute to increasing business performance, and provide a competitive advantage. This paper deals the specific needs of Generation Y on the labor market. The research questions focus, for example, on the most attractive financial advantages, benefits, and forms of job satisfaction – as well as on what Generation Y expects from a professional career. Furthermore, the paper also deals with the question of the extent motivation and stimulation affects business performance. The research methodology is based on a questionnaire conducted in the Czech Republic in 2016. The research results show a correlation between the motivation and stimulation of employees and business performance. This paper concludes that Generations X and Y show certain differences in the intrinsic and extrinsic factors for their motivation.