Employee Job Satisfaction: Impact of Monetary Incentives

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Table of Contents

Research Problem and Background
Literature Review
Methodology Research Plan
Data Analysis
Implications and Contribution to Knowledge
Reference

Research Problem and Background

This dissertation will focus on establishing what effect monetary incentives have on intrinsic and extrinsic employee job satisfaction in the United States. The importance of this study is determined by the growing role of employee empowerment in talent retention and lower turnover rates (Malik et al., 2020). Therefore, it is crucial to explore the impact of different practices with regard to human resource management and development (HRMD) on employee job satisfaction. In this regard, the problem should be examined with the differentiation between intrinsic and extrinsic employee job satisfaction factors to provide a more comprehensive overview of the issue.

Literature Review

The literature review will be conducted by identifying, interpreting, and analyzing relevant studies in the field of HRMD that focus on the main research question. It is critical to determine the keywords and terms for the search, including monetary incentives, employee job satisfaction, employee empowerment, employee performance, intrinsic and extrinsic satisfaction, and employee compensation. Furthermore, the sources should be recent and published within the past five years to provide relevant data and an overview of the problem in the contemporary context. However, sources providing a theoretical framework for the study can be older than five years.

Methodology Research Plan

The proposed methodology for this research is a correlational study, which is characterized by a non-experimental and quantitative nature. This choice is motivated by the need to establish the relationship between the variables and determine how monetary incentives impact intrinsic and extrinsic employee job satisfaction. The Minnesota Satisfaction Questionnaire (MSQ) is selected as the appropriate tool to collect employee data to understand job satisfaction among US companies. SurveyMonkey can be used as the platform to conduct the questionnaire, while LinkedIn can be utilized to reach the target population, the employees of the US companies. The variables for this study include monetary compensation, employee intrinsic satisfaction, and employee extrinsic satisfaction.

Data Analysis

Statistical analysis will be conducted to determine the effect of monetary incentives on intrinsic and extrinsic employee job satisfaction in US companies. Upon the data collection, Microsoft Excel will be used to process the data and generate the scores regarding employee intrinsic and extrinsic satisfaction. A list of research questions and hypotheses will be developed, and data will be examined with regard to each of them. Spearman’s rank-order correlation is selected as the appropriate framework to measure the association among the variables.

Implications and Contribution to Knowledge

As a result of this study, a relationship between monetary incentives and intrinsic and extrinsic employee job satisfaction can be determined, allowing employers to make informed decisions regarding their human resource management and development practices. Overall, the correlational study can contribute to the existing body of knowledge and provide new insight into the problem of employee monetary compensation and its effects on job satisfaction, which, in turn, impacts talent retention and turnover rates. The study results can be used by future researchers, employers, and employees to improve job satisfaction and, thus, performance.

Reference

Malik, E., Baig, S. A., & Manzoor, U. (2020). Effect of HR practices on employee retention: The role of perceived supervisor support. Journal of Public Value and Administrative Insight, 3(1), 1-7. Web.

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Employee Job Satisfaction: Impact of Monetary Incentives

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