In today's corporate world, we are increasingly noticing the importance of human resources management and the impact on employee motivation. Employees are the heart of any organization, and employment opportunities are incomparably greater than they were in the beginnings of corporations. Therefore, today it is more important than ever to maximize the satisfaction of employed employees and thereby not only retain them, but by increasing their satisfaction, consequently increase their motivation to work and ultimately productivity. It is necessary to know theories of motivation in order to distinguish the necessary conditions for employee satisfaction and additional factors that increase their motivation and the effort they invest. Through the study of theoretical material and different theories of motivation, the conclusion is that some factors such as wages, job security and basic working conditions are necessary for employees to be satisfied and for their workplace to be acceptable, but many additional factors affect how much they will be motivated in the work they do. By conducting empirical research, it was defined how important certain external and internal factors of motivation are to the respondents. Of the internal ones, the purposefulness of work, recognition of work and effort, the possibility of advancement at work, the possibility of solving challenges at the workplace and the feeling of belonging in the work environment proved to be the most important. In the case of internal factors, the dispersion of answers is slightly higher compared to the examination of the importance of external factors, where the answers are much more uniform. When it comes to external factors, the respondents are much more unanimous and material compensation is most important to almost all of them, while they are somewhat more divided about the importance of identifying with the organization, transparency of policies and procedures, and communication between management and employees.