Impact of Economic Crisis on Changes in Motivation of Employees in Woodworking Industry

Abstract

The paper deals with the motivation of employees of a woodworking enterprise and analyses the level of individual motivation before (2004) and after the economic crisis and its effects in Slovakia (2012). The aim of the paper is to identify the most important motivation factors for employees and to consider the impact of financial crisis on the change in perception of individual motivation factors and their economic and social impact on employees. A questionnaire, as a method of inquiry, was used to acquire relevant data. Descriptive and testing statistics were used for data processing. Significance level p was computed for individual motivation factors for the year 2004 and 2012 by means of T-test. The objective of this paper is to define significant change of average rate of individual motivation factors and to compare the order of importance of motivation factors before and after the economic crisis. Based on our research it can be stated that the world economic crisis has no impact on the level of employee motivation in the selected enterprise.