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

The initial part of the 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 answering questions concerning the importance of employee education as a significant tool of employee motivation and retention. The article’s author has set two hypotheses:H1: It is possible to identify common factors having an impact on employee motivation and retention from job descriptions and position in the management hierarchy’s point of view. It is also possible to find out and name the key factors in motivation and retention preferred by employees in the Czech Republic.H2: The possibility of further education and professional growth is a very important motivational factor for employees.The hypotheses were verified and confirmed through an anonymous questionnaire; the author conducted the research among employees of Czech companies. The research, which was of key importance for data collection, was supplemented by round table discussions with the respondents, helping to confirm and to be more accurate in interpretation of results delivered by the research.A clear result has come of the research; respondents valued further education the most out of sixteen offered benefits provided by employers. The article’s conclusion – referring to the fact of a drop in education investments by companies due to cost cutting pressures (a very dangerous and unhealthy trend from the long-term point of view, according to the article’s author) – provides managers with recommendations.