Key Factors Influencing Employee Retention and Motivation in the Hospitality Industry

The goal of this research was to test if monetary incentives are the best way to motivate people in Dubrovnik, whether they would perform better and be more satisfied with their work if money was given as a reward. In order to test this the experimenter used a modified experiment preformed by Dan Pink in order to design the experiment suitable in this scenario. Results of the experiment have shown that despite money seeming to be a good motivator certain unseen factors proved to be more beneficial and effective in increasing performance than money. Participants stated that winning was motivating them better than money, and forgetting that the monetary incentive was even a part of the experiment. When monetary incentive became the reason of their motivation the participants preformed worse and showed reduced efficiency in a task requiring minimal cognitive capability