Wilmie Vosloo|Jaco Fouché|Jaco Barnard
The Relationship Between Financial Efficacy, Satisfaction With Remuneration And Personal Financial Well-Being
North-West University|North-West University|North-West University
financial stress condition becoming prevalent todays society due factors high debt levels low savings economic recessions research found financial stress negatively influences employees performance work increasing pressures personal finances interference work study considers whether management attempt improve employees financial wellbeing management needs convinced actions improve employees financial wellbeing study established measured relationship subjective measures financial efficacy satisfaction remuneration financial wellbeing sample size 9 057 employees different sectors south africa used confirmatory factor analyses used survey based previously developed survey already known items load onto factors data analysed using pearson correlation coefficients multiple regression analysis three hypotheses tested hypothesis 1 relationship satisfaction remuneration financial wellbeing hypothesis 2 relationship financial wellbeing financial efficacy hypothesis 3 financial efficacy moderates relationship satisfaction remuneration financial wellbeing results study supported three hypotheses personal financial efficacy satisfaction remuneration found strong positive relationship financial wellbeing study also established relationship remuneration satisfaction financial wellbeing stronger people higher financial efficacy argued management intervene employees financial wellbeing improving financial efficacy financial education improving satisfaction remuneration satisfaction remuneration increased increasing actual remuneration benefits addressing administrative issues pay system addressing staff morale increasing financial efficacy staff higher wellbeing contribute better performance entity