MOTIVATING EMPLOYEES IN TIMES OF RECESSION: RECOMMENDATIONS FOR THE HELLENIC NAVY
Powley, Edward H.
Roberts, Benjamin J.
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The 2008 global economic crisis severely affected Greece and all organizations operating in its economythe Hellenic Navy among these. The need for motivation in the workplace with the current conditions is more important than ever, in order to mitigate potential reduction of productivity and to advance performance excellence. This study attempts to identify effective ways to motivate employees specifically under the current economic crisis. In so doing, the effects of economic decline on employees and organizations are examined, and prominent motivation theories and applications are referenced. Furthermore, analysis of four specific case studies illuminates issues related to motivation in crisis situations. The thesis concludes with a set of motivational techniques that may minimize the effects of the recession and its consequences on employees and organizations. Finally, specific recommendations that the Hellenic Navy might consider are proposed.
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