Empirical Study on Intrinsic Motivation Factors of Employees in Transition Economies
Purpose: This research study aims to unequivocally discuss and explore the intrinsic motivation factors of the employees in transition economies. The purpose of this study is to find which are the main internal factors that motivate employees? Taking in to consideration changes to the economic systems, different factors derived from theories, as well as other research analyzed. Design/Methodology/Approach: To describe the relationship between motivational factors that motivate workers today, we have developed a questionnaire which is distributed and filled by 510 respondents, not taking into account their hierarchy in the organization. Methodologies used in this research are Pearson correlation matrix to test the relationship with independent variables and dependent variable which in our case is intrinsic motivation and as a main econometric model binary logit is used Findings: The research shows that most of the data that we have used in this model are correlated, and have high level of significance, and there is no multicollinearity. Whereas, in Binary Logit model used Cox & Snell R Square is .696 meaning that our model is predicted by around 70 percent from the independent variables. From our research we found that most important intrinsic motivational factors are competence, job satisfaction, job recognition as well as financial rewards. There is no impact on intrinsic motivation that is dependent on finding the job interesting or not. Worthy of note is that the odds of employees to be intrinsically motivated are much higher in public institution than in private businesses. Practical Implications: This study raises awareness of motivational factors in economies that are still in transition. Results of this study can serve as a good guide especially for small businesses and business startups on importance of behaviorist approach for motivation factors as competence and job recognition. Originality/Value: this paper provides original insights of the compound relationship between different factors that have a direct affect in intrinsic motivation of employees’ therefore as an outcome better job performance.