Vol 19,2016-3

DETERMINANTS OF EMPLOYEE PERCEPTION ON FINANCIAL WELL-BEING IN PUTRAJAYA

Nuradibah Mokhtar and Husniyah Abd Rahim


Abstract

This study examines the relationship between financial stress, work environment, locus of control, financial behavior and financial well-being among public employees in Putrajaya. A survey was carried out to acquire data from 374 public employees using a self-administered on-line questionnaire, utilizing multistage random sampling. Results showed that financial stress (r = -0.643**, p < 0.01), work environment (r = 0.247**, p < 0.01), locus of control (r = 0.395**, p < 0.01) and financial behavior (r = 0.363**, p < 0.01) have significant relationship with financial well-being. It was discovered that respondents who were experiencing lower financial stress, have positive work environment, locus of control and financial behavior tend to have a better financial well-being. Financial stress (beta = -0.543, p < 0.01), work environment (beta = 0.080, p < 0.01), locus of control (beta = 0.132, p < 0.01) and financial behavior (beta = 0.244, p < 0.01) have significant influence on respondents’ financial wellbeing. Based on the results, financial well-being can be enhanced through the decreased of the employees’ financial stress and increasing of their work environment, locus of control and financial behavior.


Keywords: financial well-being, financial stress, work environment, locus of control, financial behavior