Senior managers in the forestry and wood-processing sectors in the Slovak Republic were asked to complete questionnaires. The aim of the research was to identify the importance of certain factors that affect the process of their motivation. A total of 493 senior managers were surveyed. The respondents used a five-point rating scale to rate the significance of each motivation factor, where 5 was very important and 1 was unimportant. The importance of 36 motivation factors was studied for senior managers through the use of statistical methods. Based on the study, it was concluded that the base salary is the most important factor of motivation, followed by job security as the second most important motivation factor, and the third most important factor was the fair appraisal system.
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INTRODUCTIONOrganizations focus on their employees to gain a competitive edge. Technology, processes, and organizational structure can be copied, but the value that competent and dedicated employees can bring to companies cannot be easily taken away (Ahmad et al. 2012). Managers in companies strive to build a functioning process within their enterprises (Vaňová et al. 2009). This is why companies have to cooperate with their employees. Companies must motivate and stimulate employees to make them feel satisfied with the organization and to prevent them from leaving. Halepota (2005) defines motivation as "a person's active participation and commitment to achieve the prescribed results." Without motivation, employees cannot offer their best performance, resulting in the company's performance being less efficient (Muslim et al. 2016). Motivated employees help businesses to succeed, as they are more productive (Almacik et al. 2012). Hence, motivated employees can contribute to making an organization more valuable and profitable (McKenzie-Mohr and Schultz 2014).To have a comprehensive understanding of employee motivation, one must examine its history, as well as further development, because employee motivation and engagement has long been a major concern for research (Sanyal and Biswas 2014). When Frederick Herzberg researched the sources of employee motivation during the 1950s and 1960s, he discovered a dichotomy: the things that make people satisfied and motivated on the job are different, in kind, from the things that make them dissatisfied. The renowned two-factor theory of established hygiene factors and motivators influenced better employee Fakhrutdinova et al. (2013), there are several means of employee motivation, such as bonuses, career growth, or obtaining the right to purchase shares of the company at a discounted price. During the economic crisis, motivation platforms are focused not only on financial incentives but very often on non-financial incentives, such as rebuilding teams, providing education and training within the company, offering qualifying training courses, language courses, managerial and IT courses, seminars, or using different outsourcing market tools (Wu et al. 2008;Kampf and Ližbetinová 2015). Kamasheva...