Financial Stress, Pay Satisfaction and Workplace Performance

Kim, Jinhee; Garman, E. Thomas

doi:10.1177/0886368703261215

Cited by 74 publications

(69 citation statements)

References 3 publications

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“…On the other hand, according to Research (2003), unskilled or unemployed workers tend to show lower performance due to less contact with financial issues. In addition, financial illiteracy is associated with low job performance and workers' productivity (Kim & Garman, 2004). Working arrangements may also influence financial attitudes and behaviors, considering that individuals with steady income have better conditions to organize and plan their financial life (Calamato, 2010).…”

Section: Relationship Between Socioeconomic and Demographic Variablesmentioning

confidence: 99%

Determinantes da Alfabetização Financeira: Análise da Influência de Variáveis Socioeconômicas e Demográficas

Potrich

Vieira

Kirch

2015

Rev. contab. finanç.

130

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Financial literacy helps individuals make more assertive and efficient decisions in the monetary context of their lives. This study has as its central axis developing a model that explains the individuals' financial literacy level through socioeconomic and demographic variables. The sample consists of 1,400 individuals living in Rio Grande do Sul, Brazil, and data analysis was performed by using descriptive statistics and multivariate analysis techniques. As an indicator of the financial literacy level, a measure with three constructs was adopted: financial attitude, financial behavior, and financial knowledge. Logit and probit models were estimated from these explanatory variables: gender, marital status, dependent family members, occupation, age, educational level, father's educational level, mother's educational level, individual income, and family income. Marginal effects (incremental propensity) were positive and statistically significant at the usual levels for these variables: gender (9.56%), educational level (2.54%), individual income (6.32%), and family income (3.73%). The marginal effects (incremental propensities) were negative and statistically significant for the dummy dependent family members (-7.51%), indicating that men who do not have dependent family members and have higher educational and both individual income and family income levels are those who are more likely to belong to the group with high financial literacy levels. Furthermore, it was found that most respondents (67.1%) were classified as having a low financial literacy level. These findings confirm the urgency and need for devising effective actions to minimize the issue of financial illiteracy. It is particularly suggested that major efforts are undertaken to achieve women having dependent family members and low educational and income levels. Such a study is justified by the need to create a model that allows identifying the Brazilians' financial literacy level from socioeconomic and demographic variables. This identification may be useful, for instance, in assisting the various economic player to design financial strategies and products suitable to the customers profile. From the government viewpoint, it may enable, for instance, identifying the most vulnerable groups and thus focus on actions to improve the financial literacy level of these specific groups.

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Section: Relationship Between Socioeconomic and Demographic Variablesmentioning

confidence: 99%

Determinantes da Alfabetização Financeira: Análise da Influência de Variáveis Socioeconômicas e Demográficas

Potrich

Vieira

Kirch

2015

Rev. contab. finanç.

130

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“…2,10 Beyond health issues alone, low overall well-being typically results in low productivity through several processes: a drain in energy, increased distractions while at work, negative emotions about work resulting in withdrawal of effort from one's job, or an inability to attend work or perform well. [20][21][22][23] Few studies have investigated the relationship between overall well-being and productivity, and no studies to date have tested this relationship longitudinally.…”

Section: Introductionmentioning

confidence: 99%

Overall Well-Being as a Predictor of Health Care, Productivity, and Retention Outcomes in a Large Employer

Sears

Shi

Coberley

et al. 2013

Population Health Management

109

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Employers struggle with the high cost of health care, lost productivity, and turnover in their workforce. The present study aims to understand the association between overall well-being and these employer outcomes. In a sample of 11,700 employees who took the Well-being Assessment, the authors used multivariate linear and logistic regression to investigate overall well-being as a predictor of health care outcomes (total health care expenditure, emergency room visits, hospitalizations), productivity outcomes (unscheduled absence, short-term disability leave, presenteeism, job performance ratings), and retention outcomes (intention to stay, voluntary turnover, involuntary turnover). Testing this hypothesis both cross-sectionally and longitudinally, the authors investigated the association between baseline well-being and these outcomes in the following year, and the relationship between change in overall well-being and change in these outcomes over 1 year. The results demonstrated that baseline overall well-being was a significant predictor of all outcomes in the following year when holding baseline employee characteristics constant. Change in overall well-being over 1 year also was significantly associated with the change in employer outcomes, with the exception that the relationship to change in manager-rated job performance was marginally significant. The relationships between overall wellbeing and outcomes suggest that implementing a well-being improvement solution could have a significant bottom and top line impact on business performance. (Population Health Management 2013;16:397-405)

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“…Good financial behavior is described by having effective behavior such as preparing financial record, documentation on the cash flow, planning expenses, paying utility bills, controlling the usage of credit card as well as a savings plan (Gorham et al, 1998). Prior research did describe how financial well-being of an individual are influenced by his or her financial behavior (Godwin & Carrol, 1986;Scannel, 1990;Porter & Garman, 1993;Godwin, 1994;DeVaney, Gorham & Benchman et al, 1996;Parrotta & Johnson, 1998;Joo & Garman, 1998;Hira & Mugenda, 1999;Kim et al, 2003;Joo & Grable, 2004;Kim & Garman, 2004;Ramli et al 2010;Ramli, 2011).…”

Section: Introductionmentioning

confidence: 99%

Financial Behaviors of Female Teachers in Malaysia

Zaimah¹,

Sum²,

Lyndon³

et al. 2013

ASS

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This paper aims to identify the pattern of financial behavior among female teachers in Bandar Baru Bangi, Selangor. A total of 325 female teachers was involved in the study. Questionnaires were used in the survey to collect data. Data on questions relating to socioeconomic background, financial knowledge and financial behavior were gathered. The financial behavior pattern was formulated using the 5-Likert scale and financial knowledge with the choice of either 'right' or 'wrong' answer. The analysis showed four dimensions that were interrelated on the assessment measurement of financial behavior: i) planning, ii) cash flow management, iii) saving and iv) usage of credit card. Descriptive analysis includes t-test and ANOVA were used to analyze the differences between the mean score of financial behavior across the factors such as age, level of education, monthly income and financial knowledge level. The findings showed the respondents had a substantial mean score in the four dimensions of financial behavior described above. The highest mean score was on the dimension of cash flow management which involve activities of paying bills and other expenses by installments. The findings also showed respondents aged more than 45 years old had good financial behavior in term of saving. In another word, as they grew older they cultivate better saving habit. The findings also showed that the respondents with the good financial behavior were among those who were good in saving their income. Further study is suggested to identify factors that influence the financial behavior among teachers. The financial behavior can describe the financial well-being of an individual or group which has an impact on the individual productivity level.

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Financial Stress, Pay Satisfaction and Workplace Performance

Cited by 74 publications

References 3 publications

Determinantes da Alfabetização Financeira: Análise da Influência de Variáveis Socioeconômicas e Demográficas

Determinantes da Alfabetização Financeira: Análise da Influência de Variáveis Socioeconômicas e Demográficas

Overall Well-Being as a Predictor of Health Care, Productivity, and Retention Outcomes in a Large Employer

Financial Behaviors of Female Teachers in Malaysia

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