Measuring the Association between Emotional and Financial Employee Well-Being and Work Satisfaction

Abstract

The article provides a concise yet significant overview of the emotional and financial well-being of employees at work, categorized as soft and hard aspects. Well-being is a multidisciplinary topic, now seen at the workplace as a factor in performance. Employee well-being is crucial not only for the individuals but also for the organizations, with a correlation between emotional and financial well-being and job satisfaction being assessed. Additionally, the study examined the impact of three variables - gender, age, and organization - on job satisfaction. The analysis, utilizing SPAS and R square, revealed that there is no significant association between gender (2.3%), age (0.9%), and organization (0.5%) and job satisfaction. Only a small percentage, ranging from 0.5% to 2.3%, of the variance in job satisfaction can be explained by these three variables. Furthermore, it was found that the emotional and financial well-being of employees significantly influences job satisfaction. A substantial 99.5% of the variance in these two types of well-being is linked to job satisfaction, making them strong predictors. This leads to increased job satisfaction among employees, resulting in enhanced performance at work. This mutually beneficial scenario is achieved through the use of simulation and forecasting, two methods that are both simple and complex. Organizations and their managers can use this as a starting point to comprehend the soft and hard aspects of achieving well-being and satisfaction at work to enhance performance.

Keywords

• emotional well-being
• financial well-being
• control variables
• work satisfaction
• performance