The diploma thesis focuses on motivation of work behavior in the Telefónica O2 Czech Republic Inc. The literature research explains the basic phenomenon - motivation and incentive, motivation process and stimulation. Further literature review describes basic theoretical approaches related to motivation of work behavior. Motivation of work behavior in consequence with the relation to work performance and employee satisfaction is described. Also, the role of the supervisor is described as the motivator and factors, which influence motivation behavior of the employee. The first practical part of the thesis formulates basic information about the Telefónica O2 Czech Republic Inc. and current motivation program used by the Telefonica company. The motivation program is specified form the first start of new employee in Telefonica and the program contains the system of remuneration, education, training and professional growth, benefits and other incentives. Based on the results of the survey, problem areas are defined and effective changes in the company's motivation program are suggested.