Demographic and Attitudinal Correlates of Employee Satisfaction with an ESOP

Abstract

Venneman]A firm's adoption of an employee stock ownership plan (ESOP) has been hypothesized to increase employee productivity. Resulting employee productivity is hypothesized to improve firm profitability and thus ultimately improve stock performance. Most studies to date have tested potential relationships between the mere presence of an ESOP and changes in employee productivity and firm profitability. Few studies have attempted to identify the variables that are associated with employee satisfaction with an ESOP. In order to maximize the productivity gains associated with the adoption of an ESOP, researchers must first identify the relationships and variables most likely to positively affect employee attitudes and subsequently their satisfaction toward an ESOP. The purpose of this paper is to identify the demographic and attitudinal correlates of employee satisfaction with an ESOP. This exploration will provide a more substantive foundation for future research efforts in the area. Correlation and regression results indicated that employees' perceived influence on decision-making, perceived pay equity and perceived influence on stock performance, when examined separately, were each significant correlates of ESOP satisfaction. When combined with the modelled employee demographics in a step-wise regression model, only employees' perceived influence on stock performance, perceived influence on decision-making and age explained a statistically significant amount of variance in ESOP satisfaction.

A study of relationship between managers' leadership style and employees' job satisfaction

“…Managers do not have enough authority to affect job security and xxi salaries in public hospitals; however, they could make effective efforts in other areas of motivation to improve employee morale. Several researchers have concluded that employee job satisfaction in health care organizations is shown to be correlated with age, gender, marital status, number of children, graduation level and work experience years (Al-Ahmadi, 2002;Aronson et al, 2003;Blegen, 1993;Bodur, 2002;Chu et al, 2003;Gangadhraiah et al, 1990;Gigantesco et al, 2003;Hespanhol et al, 1999;Lyons et al, 2003;Hallock et al, 2004). In this current study, variables such as employees' age, gender, work experience years, marital status and organizational position were seen as having significant effects on their job satisfaction.…”

Employee Participation in Employee Share Ownership: an Evaluation of the Factors Associated with Participation and Contributions in Save As You Earn Plans

“…These predictions are rooted in expectancy theory, which implies that employee expectations and perceptions of the share ownership plan will influence their propensity to participate in it (as well as their judgement on its effectiveness and their satisfaction with it). A widely held view within the employee ownership literature has been that employee-owners seek more control of decision-making from their involvement in ownership, as indicated by the finding that satisfaction with ownership is correlated with perceptions of control (Hallock, Salazar and Venneman, 2004;Klein and Hall, 1988). By contrast, another strand of the literature emphasizes the role of financial orientations; in particular, French (1987) has argued that employees primarily seek personal profit rather than control from their participation in ownership.…”

Effect of Female Principal’s Management Styles on Teacher’s Job Satisfaction in *Isfahan-Iran, Girls High Schools

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