Central European Business Review 2012, 1(1):33-37 | DOI: 10.18267/j.cebr.6

Education as an Employee Motivation and Retention Factor of Banks and Financial Companies Operating in the Czech Republic

Iveta Němečková
Ing. Iveta Němečková, Ph.D., Deputy Head of International Business Department, University of Economics, Prague, Winston Churchill Sq. 4, 130 67, Prague 3, Czech Republic, iveta.nemeckova@vse.cz

This article addresses the human potential of companies as well as the motivation and retention of employees, which play a key role in reaching a company's commercial and financial goals. The article's objective is to answer questions concerning employee education as a significant tool of employee motivation and retention in the financial sector. The initial part of the article deals with the theoretical background of employee motivation and retention, methodology, and hypotheses setting. Verification of the hypotheses should lead to objective achievement by their confirmation or refusal. The hypotheses were verified and confirmed through empirical research; the author conducted research among employees of financial companies in the Czech Republic. The research was supplemented by round table discussions with the respondents. A clear result has come of the research; financial sector employees valued further education the most out of eighteen offered benefits provided by employers. The article's provides managers with recommendations.

Keywords: Education; Employee Motivation
JEL classification: M5

Received: March 4, 2012; Revised: June 11, 2012; Published: June 30, 2012  Show citation

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Němečková, I. (2012). Education as an Employee Motivation and Retention Factor of Banks and Financial Companies Operating in the Czech Republic. Central European Business Review, 1(1), 33-37. doi: 10.18267/j.cebr.6
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