Sense of coherence: A distinct perspective on financial well-being
With the ongoing financial challenges being faced in the economic environment, research exploring financial and psychological well-being is of significant value because employees’ socio-economic behaviour affects productivity. Research emphasises mainly the effect of income level on psychological we...
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| Format: | Article |
| Language: | English |
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AOSIS
2016-11-01
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| Series: | South African Journal of Economic and Management Sciences |
| Online Access: | https://sajems.org/index.php/sajems/article/view/1405 |
| _version_ | 1819297130338058240 |
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| author | Antoni Barnard |
| author_facet | Antoni Barnard |
| author_sort | Antoni Barnard |
| collection | DOAJ |
| description | With the ongoing financial challenges being faced in the economic environment, research exploring financial and psychological well-being is of significant value because employees’ socio-economic behaviour affects productivity. Research emphasises mainly the effect of income level on psychological well-being, and its orientation to psychological well-being is narrowly derived from a focus on subjective well-being constructs. This study addresses the research gap by exploring the relationship dynamics between sense of coherence, income level and financial well-being. Secondary data were obtained from a cross-sectional online employee-wellness survey (n=7 185). The sample distribution included 66 per cent females and 34 per cent males from various age groups, with 46 per cent of the sample comprising single-household earners and 54 per cent sharing household income. Analysis of variance was conducted to examine the relationship dynamics between sense of coherence, level of income and financial well-being. Demographic variables that formed part of the survey results were included in the analysis. The relationships between sense of coherence and identified significant income level, financial well-being and demographic effects were further explored in Bonferroni multiple comparisons of means test and cross reference frequency tables that included Pearson’s chi-square and/or Cochran–Armitage trend tests. Detail results indicate that high-income employees exhibit a significantly stronger sense of coherence than low-income employees, and that, despite level of income, financial wellbeing is nevertheless positively related to sense of coherence. Results indicate important implications for managing a financially healthy workforce. Limitations are discussed and recommendations for future research are highlighted. |
| first_indexed | 2024-12-24T05:09:07Z |
| format | Article |
| id | doaj.art-313385c32e5e45a39a5c381842d9fff3 |
| institution | Directory Open Access Journal |
| issn | 1015-8812 2222-3436 |
| language | English |
| last_indexed | 2024-12-24T05:09:07Z |
| publishDate | 2016-11-01 |
| publisher | AOSIS |
| record_format | Article |
| series | South African Journal of Economic and Management Sciences |
| spelling | doaj.art-313385c32e5e45a39a5c381842d9fff32022-12-21T17:13:44ZengAOSISSouth African Journal of Economic and Management Sciences1015-88122222-34362016-11-0119464766010.4102/sajems.v19i4.1405532Sense of coherence: A distinct perspective on financial well-beingAntoni Barnard0UNISAWith the ongoing financial challenges being faced in the economic environment, research exploring financial and psychological well-being is of significant value because employees’ socio-economic behaviour affects productivity. Research emphasises mainly the effect of income level on psychological well-being, and its orientation to psychological well-being is narrowly derived from a focus on subjective well-being constructs. This study addresses the research gap by exploring the relationship dynamics between sense of coherence, income level and financial well-being. Secondary data were obtained from a cross-sectional online employee-wellness survey (n=7 185). The sample distribution included 66 per cent females and 34 per cent males from various age groups, with 46 per cent of the sample comprising single-household earners and 54 per cent sharing household income. Analysis of variance was conducted to examine the relationship dynamics between sense of coherence, level of income and financial well-being. Demographic variables that formed part of the survey results were included in the analysis. The relationships between sense of coherence and identified significant income level, financial well-being and demographic effects were further explored in Bonferroni multiple comparisons of means test and cross reference frequency tables that included Pearson’s chi-square and/or Cochran–Armitage trend tests. Detail results indicate that high-income employees exhibit a significantly stronger sense of coherence than low-income employees, and that, despite level of income, financial wellbeing is nevertheless positively related to sense of coherence. Results indicate important implications for managing a financially healthy workforce. Limitations are discussed and recommendations for future research are highlighted.https://sajems.org/index.php/sajems/article/view/1405 |
| spellingShingle | Antoni Barnard Sense of coherence: A distinct perspective on financial well-being South African Journal of Economic and Management Sciences |
| title | Sense of coherence: A distinct perspective on financial well-being |
| title_full | Sense of coherence: A distinct perspective on financial well-being |
| title_fullStr | Sense of coherence: A distinct perspective on financial well-being |
| title_full_unstemmed | Sense of coherence: A distinct perspective on financial well-being |
| title_short | Sense of coherence: A distinct perspective on financial well-being |
| title_sort | sense of coherence a distinct perspective on financial well being |
| url | https://sajems.org/index.php/sajems/article/view/1405 |
| work_keys_str_mv | AT antonibarnard senseofcoherenceadistinctperspectiveonfinancialwellbeing |