Work Motivation Factors and Strategies Influence on Employee Performance: A Study of a FinTech Company in Estonia

Employee motivation is crucial for enhancing performance, especially in dynamic sectors, such as FinTech. This study investigates the key motivation factors and strategies that influence employee performance in a Fintech company in Estonia. A mixed-method approach was adopted, incorporating both qualitative and quantitative data collection methods such as surveys and interviews. Of the 225 employees surveyed, 135 completed the questionnaire, yielding a 60% response rate. Data analysis was conducted using the Statistical Package for the Social Sciences (SPSS). Additionally, the researcher interviewed eight company managers, with responses transcribed in Microsoft Word, and analyzed them through thematic analysis. The findings indicate that motivational factors significantly influence employee performance in Estonian FinTech companies. Among the various motivation factors and strategies examined, intrinsic motivation, such as personal principles and values, achievement, sense of accomplishment, and identified regulations emerged as the most influential on employee performance. Conversely, amotivation and introjected regulation were detrimental. The use of social pressure to control behavior may undermine motivation, whereas material rewards may be more effective. In addition, the study found that employers primarily use recognition, trust, communication, and support as strategies to boost employee performance. Based on these findings, the author recommended that managers should provide employees with more opportunities for personal growth and enhance organizational support to foster motivation and performance.