impact of incentives and work life balance on job satisaction
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“Impact of Incentives and Work life balance on Job
Satisfaction”
DISSERTATION ROJE!T REORT
S"bmitted To
RAJA#IRI $%SINESS S!&OO'
In partial fulfillment of the requirement for the award of
OST #RAD%ATE DI'O(A IN (ANA#E(ENT )#D(*
+,-. / +,-0
By
Ajish Raju
Roll. No.P14163
Rajairi Business !"hool
Rajairi #alley
$o"hi % 6&' (3)
DE!'ARATION
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I* A1is2 Ra1" here+y de"lare that this report titled ,Impact of Incentives and Work life
balance on Job Satisfaction- is a +onafide re"ord of the issertation wor/ done +y me as part
of partial fulfillment of the award of the deree* Post 0raduate iploma in anaement proram
from Rajairi Business !"hool* $o"hi.
I also de"lare that this report has not +een su+mitted to any other uni2ersity +oard for the award
of any dereediploma.
Pla"e $o"hi Ajish Raju
ate
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A!3NOW'ED#E(ENT
5he satisfa"tion that implies the su""ess of any tas/ would +e impossi+le without the mention of
the people who made it possi+le* whose uidan"e and en"ouraement are 2alua+le to me.
irst of all I than/ the #od Almi42t5 for his immense ra"e and +lessins at ea"h and e2ery
stae of my dissertation.
5hen I would li/e to e7press my ratitude to Dr6$ino5 Josep2* Prin"ipal*Rajairi Business
!"hool* for rantin me the opportunity to do the study.
I am than/ful to my a"ulty 0uide* rof6 S2ell5 Jose fa"ulty* Rajairi Business !"hool* $o"hi*
for i2in me his 2alua+le uidan"e to e7e"ute the study as per the institution requirements and
for all the support he a2e throuhout my dissertation. I would also li/e to than/ Dr6 Imran
32an and rof6 Sa1i #eor4e7 8ury em+ers who e7tended their helpin hands at 2arious staes
of my study.
I would also li/e to than/ my parents for their in2alua+le support and uidan"e* without whi"h
this report would not ha2e +een possi+le.
I would li/e to than/ all the respondents who "ooperated whole heartedly and patiently in
pro2idin me with the data +y fillin the questionnaire.
I am also than/ful to all other fa"ulty and friends who had e7tended their support and
"ontri+utions* whi"h helped me in impro2in my dissertation.
5han/in 9ou*
Ajish Raju
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TA$'E O8 !ONTENTS
DESCRIPTION
PAGE
NO.
ABSTRACT..................................................................................
..
CHAPTER 1 INTRODUCTION………………………………………..-6- Relevance966666666666666666666666666666666666666666666666666666666666666666666666666666666666666666
-6+ $ack4ro"nd99999999999999999999996
-6: Ob1ectives 666666666666666666666666666666666666666666666666666666666666666666666666666666666666666666
-6. Researc2 ;"estion999999999999999999966
CHAPTER 2 LITERATURE REVIEW………………………………
+6- T2eor599999999999999999999999996
+6+ Researc2 (odel999999999999999999996666
+6: &5pot2esis999999999999999999999996
CHAPTER 3:RESEARCH METHODOLOGY…………………………
:6- Researc2 Desi4n 9669996669666666666666666666666666666666666666666666666666666666666
:6+
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'IST O8 TA$'ES
Serialno6
Title of t2e table a4eNo6
5a+le 3.1 Result of relia+ility -.
5a+le 4.1 :orrelation +etween * N and ;B with 8o+ !atisfa"tion -=
5a+le 4.' Reression model for inan"ial in"enti2es and 8o+
satisfa"tion
->
Abstract
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Impa"t of in"enti2es and wor/ life +alan"e on employee
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;hat ma/es wor/ers happy? An important "omponent of the jo+ satisfa"tion
literature fo"uses on rewards. !tudies in manaement and psy"holoy e7aminin
the lin/ +etween jo+ satisfa"tion and rewards tend to either utili=e the 2alen"e%
e7pe"tan"y%instrumentality framewor/ proposed +y #room @1)64 and modified
+y Porter and awler @1)6& or su+s"ri+e to the dis"repan"y theory proposed +y
o"/e @1)C6.
5he former in2ol2es identifyin what wor/ers 2alue and their "onfiden"e in doin
their jo+ suffi"iently well to re"ei2e rewards* as well as their e7pe"tation of ettin
the rewards they desire.
;or/ life +alan"e pra"ti"es are orani=ational "hanes desined to redu"e wor/
family "onfli"t. 5hese wor/ life +alan"e pra"ti"es ena+le employees to +e effe"ti2e
in +oth wor/ and personal roles. 5he more "ontrol an employee has on their li2es
the more a+le they are to +alan"e wor/ and family.
@Iqan la=ar* '(1( :on"lude that* a su""essful +alan"e +etween wor/ and non wor/
roles are +enefi"ial for +oth employee and employer. And this +alan"e in wor/ and
life domains enhan"es quality of personal relationship and orani=ational
out"omes.
-6+ $ack4ro"nd
In"enti2e is the "on"ept whi"h has +e"ome a /ey aspe"t for attra"tin* en"ourain
and retainin the effi"ient employees in the orani=ation. A""ordin to Bennett and
inty@'((D* in"enti2es are 2iewed from two +road perspe"ti2es. 5hey are
finan"ial in"enti2es and Non>finan"ial in"enti2es. 5he study of $reitner and
$ini"/er@'((1 re2ealed that finan"ial in"enti2es has a short term result in
en"ourain and stimulatin wor/ers for hiher performan"e. But oren+os"h* e
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Reu2er E !anders @'((6 e7plained in their study finan"ial reward oes a lon way
in determinin their effe"ti2eness and "ommitment towards their oals and
o+je"ti2es. ;hen hih performan"es are re"orded for employees* it must +e
supported with a +asis for re"onition and promotions.
In the re"ent trends* many "ompanies ha2e +een usin some /ind of in"enti2e
system to moti2ate and reward their employees. :ompanies are usin up lots of
money in their in"enti2e system +e"ause of its popularity. A study* for e7ample did
their resear"h on "ompanies of inland* and a+out 6DF "ompanies ha2e de2eloped
new reward system in the last three years @!alimG/i* !weins* Heis/anen E
aamanen '(()* p.6. 5he rapid rowth and de2elopment in the world has "reated
new a"ti2ities and new doors for all +usiness orani=ation. 5he lo+ali=ation trend
has put the orani=ation hard to retain their "ompetiti2e ad2antae.
rani=ational "hanes due to downsi=in* merers a"quisitions and radi"al
"hanes in te"hnoloy ha2e "haned the wor/ setups. 5he employees in present are
more in2ol2ed in their jo+s than in the last de"ade. 5he lon wor/in hours* wor/
pressure* hih demandin jo+s* use of sophisti"ated te"hnoloy made it diffi"ult for
employees to /eep a +alan"e +etween their jo+ and wor/ "ommitments. :hanin
so"ietal trends* su"h as an in"rease in the num+er of women enterin the wor/for"e
"om+ined with an e"onomy that requires dual in"omes support an a2erae standard
of li2in* "ontri+ute to wor/ life "onfli"ts.
Personal life and wor/ life are two sides of the same "oin. A""ordin to 2arious
sur2eys on wor/ life +alan"e* 6DF of the people are findin it diffi"ult to find a
+alan"e +etween their personal and professional life. 5raditionally "reatin and
manain a +alan"e +etween the wor/>life was "onsidered to +e a womanJs issue.
But in"reasin ;or/ pressures and 0lo+ali=ation ha2e made it an issue with +oth
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the ender* all professionals wor/in a"ross all le2els and all industries throuhout
the world. A"hie2in Kwor/>life +alan"eK is not as simple as it sounds.
5he "ru"ial fun"tion of Human Resour"e manaement is to implement pra"ti"es
that enhan"e the satisfa"tion of employees with their jo+s. :onsequently*
enhan"in jo+ satisfa"tion is "onsidered to +e a win>win proposition. Indeed* jo+
satisfa"tion has +een the fo"us of thousands of studies in manaement sin"e
Hoppo"/finan"ial rewards
for their ser2i"es and effort. In the a+sen"e of equita+le pay* trainin and
de2elopment opportunities and re"onition* employees do et dissatisfied and do
not perform the standards. 5he +enefits that employees foresee for them and their
families moti2ates them to i2e their +est.
5here has +een a lon dis"ussion a+out the su""ess of in"enti2es on the moti2ation
of employees in the literature* whi"h "laim that it has a positi2e effe"t on it. But at
the same time* there are also many others* whi"h also arue that it has low or
neati2e effe"t. Hen"e* it is really important for the "ompanies to /now at what
e7tent these in"enti2es affe"t the jo+ satisfa"tion le2els of employees. 5herefore* it
is important to /now whi"h in"enti2es do they a""ept and whi"h do not ser2es its
purpose.
A""ordin to resear"h "ondu"ted +y the :orporate L7e"uti2e Board amon D(*(((
lo+al wor/ers* ;or/ life +alan"e ran/s as the se"ond important wor/pla"e
attri+ute +ehind "ompensation. Lmployees tend to wor/ '1 per"ent harder who feel
that they ha2e +etter wor/ life +alan"e.
-6: Ob1ectives
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5o analy=e the attitudes of employees towards finan"ial in"enti2es
5o analy=e the attitudes of employees towards Non>finan"ial in"enti2es
5o analy=e the attitudes of employees towards wor/ life +alan"e.
5o analy=e the relationship +etween finan"ial in"enti2es and jo+ satisfa"tion
5o analy=e the relationship +etween Non>finan"ial in"enti2es and jo+
satisfa"tion
5o analy=e the relationship +etween wor/ life +alan"e and jo+ satisfa"tion
5o analy=e the effe"ti2eness of ea"h
-6. Researc2 ;"estion
5o e7amine the impa"t that in"enti2es and wor/ life +alan"e lea2es on jo+
satisfa"tion le2els.
+6- T2eor5
5here are many studies in the literature that e7amine the effe"ts of in"enti2es and
wor/ life +alan"e on se2eral 2aria+les. !"heepers @'(() also e7amined the e7tent
to whi"h in"enti2es system affe"ted the moti2ation of employees at I5 firms.
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A""ordin to the result of the study* an entrepreneurial reward system tends to
fo"us on formal a"/nowledement* so"ial in"enti2es and orani=ational freedom of
employees to en"ourae "orporate entrepreneurship. Poulia/as @'((& tested the
non>monotoni" effe"t of monetary in"enti2es on jo+ satisfa"tion.
In the study* 1))&>'((D of the British Household Panel !ur2ey was used to
in2estiate the "eteris pari+us asso"iation +etween the intensity of +onusprofit>
sharin payments and the utility deri2ed from wor/. 5he set of jo+ "hara"teristi"s
identified as "ontri+utin to jo+ satisfa"tion tends to in"lude pay* hours of wor/*
promotion opportunities* jo+ se"urity @Brown et al. '((&M Byren '((4M :apelli
and !herer 1)&&M :lar/* $ristensen* and ;esterard>Nielsen '(()M :lar/ and
swald 1))6M Heywood and ;ei '((6M ":ausland* Poulia/as* and 5heodossiou
'((DM Poulia/as and 5heodossiou '(1(M whether the jo+ in2ol2es diffi"ult*
monotonous* ha=ardous* or dirty wor/ @!/alli* 5heodossiou*and #asileiou '((&M
whether the jo+ is interestin* prestiious* or "hallenin @e 8one and !"haufeli
1))&M $at= 1)C&M and whether the jo+ in2ol2es little wor/er autonomy or freedom*
offers opportunities for learnin or s/ill a"quisition* or allows one to feel a sense of
a""omplishin somethin worthwhile @Bo"/erman and Ilma/unnas '(()M :lar/
1))&M in= '((3. Not une7pe"tedly* in studies "ondu"ted in de2eloped mar/et
e"onomies* affirmati2e responses for pay* promotion* se"urity* "hallenin*
interestin* prestiious* and the li/e are asso"iated with jo+ satisfa"tion @neati2e
responses asso"iated with dissatisfa"tionM for hours* diffi"ult* monotonous*
ha=ardous* and "losely monitored* the opposite holds.
:on2ersely* Adeyeye @'(() studies arued that manaers are more moti2ated +y
non>finan"ial in"enti2es and the employees are more moti2ated +y finan"ial
in"enti2es.
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any "hanes in the industries and wor/pla"es ha2e "haned and affe"ted the
wor/ and personal li2es. 5hese "hanes ha2e risen in re"ent years as a result of
lare num+ers of wor/in people and the entry of more women in the la+or for"e.
0ood ;B is a 2ital reason for the oranisation
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for orani=ation to sur2i2e and +e produ"ti2e* the employees must +e attra"ted*
rewarded and retained @Buress !imon* E Ratto arisa* '((3M :hen E Ho* '((1M
Bartlett* '((1
Non>finan"ial in"enti2es and jo+ satisfa"tion
$aya @'((C determined the major fa"tors that are responsi+le for influen"in
employees< satisfa"tion. 5he findins of the study re2ealed that frine +enefits su"h
as paid holidays* si"/ lea2e and housin loans are the major determinants meanin
that non>finan"ial in"enti2es were more effe"ti2e than finan"ial in"enti2es in terms
of the attitudes of employees. Non>monetary in"enti2es are rewards that an
indi2idual e7perien"es and are dire"tly related to the jo+ itself @alola* et al* '(14M
$ini"/i and ;illiams* '((3. Psy"holoi"al rewards are responsi+ility*
a"hie2ement* autonomy* personal rowth* "hallene* "omplete wor/ and feed+a"/
"omponents of the jo+. Physi"al rewards are trainin* welfare ser2i"es* fle7time*
promotions* interpersonal relationships* "ondu"i2e en2ironments* jo+ enri"hment*
et". !tudies also indi"ated that non>monetary in"enti2es are also important fa"tors
that help in influen"in the satisfa"tion and retention le2el of an employee.
0reen+er and Baron @'((3 and riedman @'((D are also of the opinion that
orani=ations with adequate pro2isions of the non>monetary 2aria+les "reate a
"enter of responsi2eness and attention whi"h helps in retainin "ompetent*
/nowledea+le* e7perien"ed and trained personnel.
!e2eral studies @Rothwell E $a=anas* '((4M !alau* alola and A/in+ode* '(14
indi"ated that employees are often moti2ated and satisfied with jo+s only when it
i2es them the freedom and opportunity to ma/e use of their s/ills and a+ilities
without any ar+itrary "oer"ion. Numerous studies li/e :oo/ E :rossman* '((4M
:aruth E Humphreys* '((&M "onald Ruth* Harrison !tephen* :he"/land $ath*
:amp+ell !tephen E Roland artin @'((C stated that employees et moti2ated to
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wor/ when they et frequent promotions and jo+ se"urity in their wor/ pla"eM
while some also arued that fa"tors su"h as promotion* trainin and "areer
de2elopment* as well as appre"iation and impro2ed wor/ en2ironment i2e
employees reater opportunities and that these will either dire"tly or indire"tly
influen"e their satisfa"tion on the jo+.
;or/ life> +alan"e and 8o+ satisfa"tion
0ro2e and :roo/er* @1))D ha2e mentioned that fle7i+le wor/ hour and "hild"are
poli"es "ould in"rease employees satisfa"tion and "ommitment to the oranisation.
It is not ne"essary that family and so"ial "ommitments asso"iated with the wor/ers
are all the same. In other words* no two wor/ers are ali/e as far as their so"ial and
family "ommitments are "on"erned. or e7ample* the family and so"iety
"ommitments of a sinle person may +e less "ompared to a married person. !o it
may not +e possi+le for a married person to e7tend hisher wor/in hours li/e a
+a"helor and still +e a+le to a"hie2e ;B.
;ell manaed firms ha2e reali=ed the importan"e of ;B in in"reasin the
produ"ti2ity of an employee. 5hey ha2e reali=ed that only an employee with a
pea"eful mind will +e a+le to "on"entrate on hisher wor/ and to in"rease hisher
produ"ti2ity.
;or/ life +alan"e is not only a+out families and "hild"are* +ut also a+out wor/in
less. It is a+out wor/in ,smart- @Almidani* '((&. p.13. Asadullah and ernande=
@'((& e7amined the role of wor/>life +alan"e pra"ti"es and jo+s satisfa"tion in
0ender 0ap in the O$ and they found that ;B pra"ti"e has a positi2e
relationship with jo+ satisfa"tion as the females reported hiher le2el of jo+
satisfa"tion than men. Also* their results pro2e that ha2in ood ;B pra"ti"e
in"rease jo+ satisfa"tion.
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Related T2eoretical %nderpinnin4sHer=+erfa"tor theory e7plained how +est employees< needs "an +e met and
satisfied. 5he study arued that the fa"tors leadin to jo+ satisfa"tion are separate
and distin"t from those that lead to jo+ dissatisfa"tionM hen"e* the term two>fa"tor
theory whi"h simply refers to moti2ators whi"h are related to jo+ "ontent. Her=+er
re2ealed that the jo+ "ontent or the moti2ators fo"us on tas/ sinifi"an"e* tas/
identity and the notion a wor/er has on hisher jo+. It in"ludes the followin the
wor/ itself* respe"t* ad2an"ement* a sense of a"hie2ement and responsi+ilities. n
the other hand* Her=+er re"oni=ed the se"ond fa"tor as the hyiene fa"tors whi"h
are related to the jo+ "onte7t. 5he jo+ "onte7t refers to the en2ironment in whi"h
the jo+ is performed. It also in"ludes :ompany poli"y and pro"edure* super2ision
and administration* pay* wor/in "onditions and relationship with superior and "o>
wor/ers
+6+ Researc2 (odel
+6: &5pot2esis
H1 5here e7ist a positi2e relation +etween finan"ial in"enti2es and jo+ satisfa"tion
le2els
H' 5here e7ist a positi2e relation non> finan"ial in"enti2es and jo+ satisfa"tion
le2els.
11
inan"ial in"enti2es
8o+ !atisfa"tion Non>finan"ial in"enti2es
;or/ ife +alan"e
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H3 5here e7ists a positi2e relation +etween ;or/ life +alan"e and jo+ satisfa"tion
le2els.
:6- Researc2 Desi4n
5his "hapter e7plains the different resear"h options that were used in this study
su"h as the desin of the resear"h* sample "hara"teristi"s* the 2aria+les of
hypotheses whi"h will +e tested* data "olle"tion and analysis. In addition this study
intends to in2estiate the relationship +etween inan"ial in"enti2es @pay* +onuses*
profit sharin* Non>finan"ial in"enti2es @de2elop s/ills and a+ilities* so"ial
se"urity and health +enefits and "areer opportunities* wor/ life +alan"e and 8o+
satisfa"tion le2els @pay* wor/in "ondition* super2isor* steady employment* "o
wor/ers* feelin of a""omplishment and praise
urthermore* the study intends to e7plain to what e7tent in"enti2es and wor/ life
+alan"e ha2e an impa"t on 8o+ satisfa"tion le2els. 8o+ satisfa"tion will +e
"onsidered as a dependent 2aria+le +e"ause it depends on multiple fa"tors su"h as
employee
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2aria+les. 5herefore the questionnaire method was "onsidered to +e one
appropriate method for this study.
5he data was "olle"ted from full time employees in the "ompanies +ased in
Infopar/* $o"hi. A total num+er of 1') employees % from middle and +ottom
manaement were randomly sele"ted usin self>administered questionnaires. 5he
questionnaire was atta"hed with a letter e7plainin the purpose* anonymity and the
"onfidentiality of all the information filled* and stated that the results would +e
stri"tly used for the study purposes. 5he parti"ipatin employees were instru"ted to
indi"ate the le2el to whi"h they areed with ea"h of the statement in the sur2ey.
5he 1') "olle"ted questionnaires pro"eeded to the data analysis stae and were
analy=ed usin the !P!! @!tatisti"al Pa"/ae for the !o"ial !"ien"es proram. 5he
study was fo"used on essential points related to finan"ial in"enti2es* non>finan"ial
in"enti2es* wor/ life +alan"e and jo+ satisfa"tion
:6+ St"d5 (eas"res and variables
5he questionnaire used in the study in"ludes 1) items whi"h measures the four
2aria+les in"luded in the study. 5he s"ale used is of i/ert
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Non>finan"ial in"enti2es 5his 2aria+le was measured usin 3 items s"ale
de2eloped +y Ali Lr+a E 5uay Arat @'(1' usin i/ert A""ordin to Armstron @'(1' finan"ial rewards "omprise
all rewards that ha2e a monetary 2alue and add up to total remuneration. 5hese
rewards in"lude +ase pay* merit pay* s/ills +ased pay* in"enti2es* and ser2i"e
related pay* +onuses* finan"ial re"onition s"hemes and +enefits su"h as pensions*
si"/ pay and health insuran"e
perational definition> inan"ial in"enti2es li/e +onus* allowan"es* pay hi/e and
dis"ounts offered to "onsumers* employees and orani=ations to en"ourae
+eha2ior or a"tions whi"h otherwise would not ta/e pla"e.
Non>finan"ial in"enti2es
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5heoreti"al definition> A non "ash award i2en in re"onition of a hih le2el of
a""omplishment or performan"e su"h as "ustomer "are or support to "olleaues*
whi"h is not dependent on a"hie2ement of a pre>determined taret-.@Rose 1))&
perational definition> Non>finan"ial in"enti2e is a method of identifyin either
indi2idual employees or teams for parti"ular praise or a"/nowledement.
;or/>life +alan"e
5heoreti"al definition> :lar/ @'((( defines wor/>family +alan"e as ,satisfa"tion
and ood fun"tionin at wor/ and at home* with a minimum of role "onfli"t-
perational definition> 5he a"t of a"hie2in a +alan"e +etween the two "ompetin
demands of wor/ and personal life
8o+ satisfa"tion
5heoreti"al definition> A pleasura+le or positi2e emotional state resultin from the
appraisal of oneJs jo+ or jo+ e7perien"es- @o"/e*1)C6
perational definition> 8o+ satisfa"tion means a positi2e or pleasant emotional
state that prin"ipals and edu"ators e7perien"e when their wor/ is in harmony with
their needs and 2alues
:6: Reliabilit5 and validit5 of scale
Relia+ility inan"ial
in"enti2es
Non>finan"ial
in"enti2es
;or/ life
+alan"e
8o+
satisfa"tion
:ron+a"h
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8o+ satisfa"tion @(.&)&. Hen"e* the s"ales used in this study are relia+le with
a""epta+le le2el of internal "onsisten"y.
.6- Anal5sis and Interpretation
5his "hapter e7plains the results whi"h were "on"luded from the sur2ey usin
!P!! @!tatisti"al Pa"/ae for the !o"ial !"ien"es. 5he sur2ey is intended to help
in atherin information a+out employees< feed+a"/ towards the orani=ation in
terms of ;B* finan"ial in"enti2es* non finan"ial in"enti2es and jo+ satisfa"tion.
5he results were used to e7amine and to pro2ide analysis of the relia+ility*
"orrelation and reressions of the "olle"ted data.
.6+!orrelation Anal5sis
5he tools used for the analysis are $arl Pearson
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5a+le 4.1 "orrelation +etween * N and ;B with 8o+ !atisfa"tion
!orrelation Anal5sis and Interpretation
Ob1ective
5o analy=e the relationship +etween finan"ial in"enti2es and jo+ satisfa"tion
5o analy=e the relationship +etween Non>finan"ial in"enti2es and jo+satisfa"tion
5o analy=e the relationship +etween wor/ life +alan"e and jo+ satisfa"tion
Hypothesis 1 5here e7ist a positi2e relation +etween finan"ial in"enti2es and jo+
satisfa"tion le2els
5he :oorelation ta+le indi"ates the strenth of the relationship +etween two
2aria+les. Here* the 2alue for "orrelation +etween finan"ial in"enti2es and 8o+
satisfa"tion is .C)C* whi"h states that the a+o2e hypothesis holds true.
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Hypothesis ' 5here e7ist a positi2e relation +etween non> finan"ial in"enti2es and
jo+ satisfa"tion le2els.
5he 2alue for :orrelation +etween Non>finan"ial in"enti2es and 8o+ satisfa"tion is .
CCD* whi"h states that the a+o2e hypothesis is "orre"t.
Hypothesis 3 5here e7ists a positi2e relation +etween ;or/ life +alan"e and jo+
satisfa"tion le2els.
5he 2alue for "orrelation +etween ;or/ life +alan"e and 8o+ satisfa"tion is .&'&*
whi"h states that the hypothesis holds true in this "ase. 5he 2alue whi"h is "loser to 1
is hihly "orrelated* whi"h indi"ates that wor/ life +alan"e is hihly "orrelated with
jo+ satisfa"tion le2els than finan"ial in"enti2es and non>finan"ial in"enti2es.
.6: Re4ression Anal5sis
Reression analysis was underta/en hierar"hi"ally to test for sinifi"ant intera"tion
effe"ts o2er and a+o2e the simple effe"ts of the independent 2aria+les. R* the multiple
"orrelation "oeffi"ients* is the "orrelation +etween the o+ser2ed and predi"ted 2alues
of the dependent 2aria+le. 5he 2alues of R for models produ"ed +y the reression
pro"edure rane from ( to 1. arer 2alues of R indi"ate stroner relationships. R
squared is the proportion of 2ariation in the dependent 2aria+le e7plained +y the
reression model. 5he 2alues of R squared rane from ( to 1. !mall 2alues indi"ate
that the model does not fit the data well. 5he sample R squared tends to optimisti"ally
estimate how well the models fit the population. Adjusted R squared attempts to
"orre"t R squared to more "losely refle"t the oodness of fit of the model in the
population.
Re4ression anal5sis5o find the deree to whi"h finan"ial in"enti2es influen"es jo+ satisfa"tion le2els
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5a+le 4.3 Reression model for inan"ial* Non>finan"ial in"enti2es and wor/ life
+alan"e with 8o+ satisfa"tion
rom the a+o2e ta+le we "an arri2e at the followin equation
9Q.111.C4&SM where
T9< stands for the dependent 2aria+le 8o+ satisfa"tion and TS< stands for the
independent 2aria+le inan"ial in"enti2es.
9Q.111.)(&SM where
T9< stands for the dependent 2aria+le 8o+ satisfa"tion and TS< stands for the
independent 2aria+le Non>finan"ial in"enti2es.
9Q.1111.(().SM where
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T9< stands for the dependent 2aria+le 8o+ satisfa"tion and TS< stands for the
independent 2aria+le wor/ life +alan"e.
5he model summary ta+le indi"ates R and R square 2alue. 5he R 2alue represents
the simple "orrelation and is (.&&4 @the KR K :olumn* whi"h indi"ates a hih
deree of "orrelation. 5he R' 2alue @the KR S@"areK "olumn indi"ates how mu"h
of the total 2ariation in the dependent 2aria+le* 8o+ !atisfa"tion "an +e e7plained
+y the independent 2aria+le>inan"ial in"enti2es. In this "ase* C&.1 F "an +e
e7plained* whi"h is 2ery lare.
5he AN#A ta+le indi"ates that p U (.(((D* whi"h is less than (.(D* and indi"ates
that* o2erall* the reression model statisti"ally sinifi"antly predi"ts the out"ome
2aria+le @8o+ satisfa"tion @i.e.* it is a ood fit for the data.
!in"e o+ser2ed 2alue of #I are 3.'14* '.D'4 and '.6D)* there is no
multi"ollinearity symptoms +etween the independent 2aria+les.
5he "oeffi"ient ta+le indi"ates that Beta 2alue of finan"ial in"enti2es @.'36* Non>
finan"ial in"enti2es @.'&D and wor/ life +alan"e @.44&. Hiher the +eta 2alue*
hiher will +e the impa"t of independent 2aria+les on dependent 2aria+le "ompared
to other independent 2aria+les whi"h is measured in terms of standard de2iation
units.
6- 8indin4s
Referin to 5a+le 4.'* the :orrelation 2alue o+ser2ed is .C)C whi"h indi"ates that
there is a sinifi"ant relation +etween finan"ial in"enti2es and 8o+ satisfa"tion.
!imilarly for !e"ond hypothesis* the :orrelation 2alue o+ser2ed is .CCD whi"h
indi"ates that there is a sinifi"ant relation +etween Non>finan"ial in"enti2es and
8o+ satisfa"tion.
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astly for 5hird hypothesis* the :orrelation 2alue o+ser2ed is .&'& whi"h indi"ates
that there is a sinifi"ant relation +etween ;or/ life +alan"e and 8o+ satisfa"tion.
Referrin to 5a+le 4.3* the o+ser2ed R square 2alue is .C&1@C&.1F whi"h indi"ates
the 2ariation in the jo+ satisfa"tion le2els that "an +e e7plained +y finan"ial
in"enti2es* Non>finan"ial in"enti2es and ;or/>life +alan"e.
It "an +e o+ser2ed from the +eta 2alue of all the three 2aria+les* ;or/ life +alan"e
@.44& lea2es hiher impa"t on 8o+ satisfa"tion le2els followed +y non>finan"ial
@.'&D and non>finan"ial in"enti2es @.'36.
6+ Recommendations
!in"e the study was "ondu"ted amon the random employees of Info Par/* :o"hin.
rani=ations pertainin to that area need to fo"us more on their wor/ life
arranements su"h as fle7i time hours* 8o+ share arranements* aternity lea2e
arranements* :ompassionate lea2e arranement* Lmeren"y "are of dependents
et"
any resear"hes has +een "ondu"ted on in"enti2es and wor/ life +alan"e affe"tin
jo+ satisfa"tion whereas while i2en an alternati2e to "hoose amon the three
2aria+les* many employees ha2e more positi2ely responded to wor/ life +alan"e
rather than in"enti2es. ne "an further e7tend the resear"h +y in"ludin 2aria+les
pertainin to satisfa"tion of employees from their jo+.
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06- !oncl"sion
5he study fo"used on findin out to what e7tent in"enti2es and wor/ life +alan"e
affe"ts the jo+ satisfa"tion le2els of employees. 5he resear"her +ased on the
responses "olle"ted and the analysis done was a+le to rea"h an out"ome* whi"h
showed that sinifi"ant relationship e7ists amon finan"ial in"enti2es* non>
finan"ial in"enti2es and wor/ life +alan"e on jo+ satisfa"tion le2els. Hen"e it
2alidates the hypothesis as true. Analysis part was done usin self administered
questionnaires amon the employees at info Par/* :o"hin. 5he results are in line
with the pre2ious studies with a sliht differen"e in impa"t of independent
2aria+les on jo+ satisfa"tion. Based on the reression analysis* it was o+ser2ed that wor/ life +alan"e @.44&
lea2es hiher impa"t on jo+ satisfa"tion le2els "ompared to non>finan"ial
in"enti2es @.'&D and non>finan"ial in"enti2e @.'36. 5here are also some limitation
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in the study related to eoraphi"al lo"ation as employees of a parti"ular reion are
only in"luded for this study. Besides that* the presen"e of uno+ser2ed jo+
"hara"teristi"s* su"h as jo+ disamenities* may "ause further +iases. 5a/in a larer
"onte7t as a +ase and "ondu"tin the sur2ey to a +roader population will in"rease
the enerali=a+ility of the findins o+tained from this study. Howe2er* this was
impossi+le in our study due to time and "ost and rearded as a limitation
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B"l"()&a'
Hill, J., Hawkins, J., Ferris, M., & Weitzman, M. 2001!. Fin"in# an e$tra "a% a
week '(e )*siti+e ee-t * /* e$iilit% *n w*rk an" amil% lie alan-e.
Family Relations, 501!, 4958.
*-ke, . 1976!, '(e natre an" -ases * /* satisa-ti*n, in nnette,
M.. "s!,Handbook of Industrial and Organisational Psychology , an"
M-:all%, ;(i-a#*, alan-e in t(e :ew
Millennim W(ere re WeD W(ere * We :ee" t* G*DE. ;:
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?san J. inz an" nastasia ?em%kina.2012!. W(at Makes W*rkers Ha))%Dnti-i)ate"ewar"s an" J* ?atisa-ti*n. Industrial relation, 514!,811=844.
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