|Form of studies
| Professional Master
|Title of the study programm
| Business Administration
|Title in original language
|Korporatīvās kultūras saistība ar darbinieku motivāciju – ieteikumi Latvijas finanšu sektora uzņēmumiem
|Title in English
|Linking Company Culture to Employee Motivation – Recommendations for Financial Sector Companies in Latvia
| 01B00 Riga Business School
|Gregory Scott Mathers
|The purpose of the study is to investigate the impact of corporate culture on employee motivation. In case there is an impact then what are the motivational factors and elements integrated with the corporate culture that motivate employees and how these elements interact. The research aims to give managers insight on how employees perceive the motivational factors integrated into the corporate culture and provide recommendations to improve employee motivation with the help of corporate culture.
Employees motivation in the financial industry was high before the recent financial crises, and the results of incentives to behave were visible after the crises. Corporate culture has been criticized for the consequences of the financial crises. Now the financial sector is experiencing significant industry transformation, and the question of employee motivation attracts managers attention. Can a well-crafted and implemented corporate culture comprise motivational factors relevant for effective stimulation of employee motivation?
Theoretical background of the research includes the analysis and comparison of the theories on employee motivation at work, motivational factors and corporate culture. Academic studies, researches and business magazines were studies to understand and define the mechanism of motivational behavior at work.
The author conducted practical research to determine the relation of motivational factors to corporate culture and estimate the level of satisfaction and motivation of employees in Latvian financial industry. The survey based on theoretical analysis was developed to research the topic. The questionnaire was published on the pall platform and answered by 104 respondents from the financial sector in Latvia. The survey data were analyzed for statistically significant correlations between different variables of the survey using R programming language and a free software environment for statistical computing. Using the Spearman correlation analysis, positive correlations between elements of corporate culture and employee motivation were found, as well as the relationship between various motivational factors.
The research verified that there is a strong link between employee motivation and motivational factors integrated into the corporate culture. It was found that extrinsic motivational factors are still more important for employees in the financial sector in Latvia and more traditional motivational factors like adequate compensation package are still much more popular. There is a link identified between improvement of motivation during the last two years, and high satisfaction level with the intrinsic motivational factor and the level of satisfaction with intrinsic factors has a potential to improve. This implies that there is a hidden potential in enhancing employee motivation through intrinsic motivational factors.
It was suggested that organizations should strive to reach a strong, motivating and adaptive culture because there were found various implications. It had a positive impact on motivation improvement, a decrease in willingness to change employer receiving a similar offer and a higher desire to recommend employer to friends and acquaintances.
It was found that maintaining possibility for a career move at a reasonable level enables many positive ramifications. Some motivation factors were proved to have a relatively high relation with other factors. Such relations may enable organizations to improve the perception of some factors through activities and active promotion of other few factors.
It was found that within the framework of corporate culture it is possible to improve the motivation of employees of the Latvian financial sector through a greater focus on intrinsic motivational factors.
The research resulted in recommendations for managers and employees to strengthen their motivation at work through corporate culture.
|Korporatīvā kultūra, Motivācija, Latvija, Finanšu sektors
|Keywords in English
|Corporate culture, Motivation, Latvia, Finance sector
|Date and time of uploading