Analysis of the Employee Motivation Factors: Focus on Age and Gender Specific Factors

Abstract

Motivated employees are one of the key factors that provide competitive advantage for businesses. By determining the best way to encourage and boost employee’s performance in organizations the management ensures success of their company, on the market field. Customized employee motivation i.e. best incentive for each employee individually, is what gets the organization closer to reaching its goals and objectives. This thesis focuses on the issue of customized employee motivation. More specifically, it deals with demographically determined (age and gender) differences in the motivational profiles of the workers. In this regard, a literature review and statistical research was conducted, in order to determine the demographic differences between the motivational profiles of employees in mostly high value added service industries in Republic of Macedonia. Even though the literature review suggested significant differences between the motivational profiles of employees at different age and from different gender, this study’s results provide more similarities than differences. The employees from both genders and all age subgroups are mostly motivated by challenging job positions, advancement opportunities, good compensation packages i.e. money and well managed/good work environment. At the same time, benefits, job security and location of the work place are less of a motivator for all demographic subgroups. Still, this research study suggests that some statistically significant differences do exist. The two genders give significantly different importance to benefits as a motivator, while, the age subgroups give significantly different importance to security, work environment and challenge. Based on the findings, recommendations were given to managers, in terms of improvement of motivation policies and practices.