EFFECT OF MOTIVATIONAL TOOLS ON EMPLOYEE SATISFACTION IN SMALL AND MEDIUM ENTERPRISES

Research background: This paper begins by defining the small and medium-sized enterprises and their background in Slovakia. It explores the roles of SMEs in the economic development. Furthermore, the background of the paper analyzes motivational tools in practice. Purpose of the article: The purpose of the paper is to provide a better understanding of the employee motivation issues in small and medium-sized Slovak enterprises; an examination of the motivational tools that influences the levels of satisfaction of employees of SMEs. Methods: This research was conducted with members of small and medium enterprises in Slovakia. A personal information form and the motivation factors questionnaire form were used as data collection tools. The ending contains the results of the research and conclusions. The Pearson-correlation and the Asymptotic Significance (2-sided) were used as statistical methods. Findings & Value added: The findings show that motivation is very individual and managers have a hard task by motivating their employees. Employees are more motivated by intrinsic factors rather than extrinsic, but none of the two can be overlooked by the managers.