Analysis of the impact of motivation factors on increasing employment satisfaction

Danisko Yuliia
Master's degree, Odessa National Economic University, E-mail:julia.danisko@gmail.com

Manzhula Svitlana
PhD in Economics, Senior Lecturer of Economic Cybernetics and Information Technology Department, Odessa National Economic University, E-mail:svetikm@ukr.net, ORCID ID: http://orcid.org/0000-0002-0293-630X

Cite this article:

Danisko Y., Manzhula S. (2019). Analysis of the impact of motivation factors on increasing employment satisfaction. Ed.: D.V. Zavadska (ed.-in-ch.) and others [Analiz vplyvu motyvatsiinykh chynnykiv na pidvyshchennia zadovolenosti robotoiu; za red.: D. V. Zavadskoi (gol. red.)], Scientific Bulletin of the Odessa National Economic University, No. 7-8 (270-271), pp. 45–60.

Abstract

The article presents the research of the effectiveness of the system of motivational factors on the example of the company LLC «First House» in view of the problem of staff turnover. The level of employment satisfaction as a prerequisite for increasing the effectiveness of motivating factors and retaining key employees has been paid much attention. The results of employee surveys on the most significant incentive factors that have influenced the decision on the place of work and the most effective motivational and incentive factors for personnel employed at the enterprise have been presented. The main motivating factors of the staff of the enterprise among which in the first place high salaries and material rewards have been revealed. The economic and mathematical model of dependence of the employee’s satisfaction with the work on the main three motivating factors related to the material costs of the enterprise - wages and other material incentives; comfortable physical working conditions; training and advanced training. The Cobb-Douglas function was taken as the basis, assuming that none of the factors considered would be zero. A questionnaire was developed to evaluate employment satisfaction by the three factors selected a survey was conducted as well as based on the data obtained, the regression coefficients of the function have been found. With the help of the function obtained in the MS Excel environment, the problem of maximizing employee satisfaction with a given constraint on the motivation fund has been solved. Assuming that the survey results reflect average per group of workers, it has been recommended to distribute a $ 428 incentive fund as follows: $ 363.5 for pay and bonuses, $ 34 for job improvement and support, and $ 30.5 for staff studying and advanced training.

Keywords

staff motivation, material methods of stimulating work, efficiency of stimulating factors, function of job satisfaction, Cobb-Douglas function, optimal distribution of motivational fund.

JEL classification: C310; J310; DOI: 10.32680/2409-9260-2019-7-8-270-271-45-60

UD classification: 331.108:330.43

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