Job satisfaction among financial planners in Australia

Purpose - Job satisfaction has been the subject of a considerable body of research. In this study, the authors examine job satisfaction among financial planners in Australia, a relatively new profession which has been the subject of very little research.

Method/Approach - A national survey of financial planners was conducted, using a sample of convenience drawn from websites of two large organisations in the financial and insurance industry employing, or having agency agreements with, financial planners. A job satisfaction questionnaire designed for Australian conditions was used.

Findings - Based on a literature review, hypotheses were examined regarding the relationship between job satisfaction and age, job tenure, gender and type of employing organisation, and between job satisfaction and motivation. Results of this survey indicated little correlation between job satisfaction and age, gender, tenure or type of employing organisation. On the other hand, a positive relationship between job satisfaction and motivation was evident.

Practical implications – Respondents comments helped elucidate reasons for financial planner’s job satisfaction or dissatisfaction. Observations provided indicators that may help management nurture a positive job response among employees.

Value of this paper – Practically, this paper contributes to an underdeveloped area of research. It highlights scope for future research in two particular fields. Firstly, in-depth case studies to explore more thoroughly issues of job satisfaction and dissatisfaction. Secondly, with access to a larger number of employed financial planners a comparative study between those and self-employed financial planners on the subject of job satisfaction may enlighten managers and the profession generally.

Gender differences in organizational justice predicting the key employee outcomes of organizational commitment, job satisfaction and turnover intention

All four types of organizational justice – distributive, procedural, interpersonal and informational – were included in this study of gender differences. Both male and female respondents perceived the distributive-procedural justice and interpersonal-informational justice pairings similarly and weakly. Females consistently discriminated more clearly across the pairings, however. The effect of the four justices was also found to be gender-dependent. Males’ perception of distributive justice directly predicted their turnover intentions and commitment to the organization, while females’ perception of distributive justice predicted only job satisfaction. Males’ perceptions of procedural and information justice both predicted job satisfaction. Females’ informational justice perceptions predicted job satisfaction and commitment to the organization. The paper contributes to the literature by presenting results from all four justice types and the simultaneous use of the three outcomes of job satisfaction, organizational commitment and intention to quit. Overall, the males had a diffuse set of relationships between the justice types and the outcomes, whereas the relationships between the justice types and
the outcomes for females tended more to follow a limited number of pathways. The study was validated with data collected on two separate occasions.

Integrating job stress and social exchange theories to predict employee strain in reformed public sector contexts

This research examines the organizational characteristics that contribute to employee wellbeing in public sector agencies that have undergone substantial organizational change. Two studies were undertaken, the first involving 2,466 police officers working in a state-based law enforcement agency, whereas the second comprised 1,010 occupationally diverse employees working in a State Government authority. The research was guided by a theoretical framework that begins with a model underpinning many large-scale job stress investigations—the job strain model (JSM)—and is expanded to incorporate widely used social exchange variables (i.e., psychological contract breach and organizational fairness). The results of hierarchical regression analyses from both studies confirm the value of the JSM. There was also strong support for extending the JSM to include the breach and fairness variables; however, proposed interactions between job demands and organizational fairness failed to add to the explanatory value of the model. The implications of these results particularly for public sector organizations that have undergone extensive reforms consistent with New Public Management are discussed.

Job stress in the law enforcement sector: comparing the linear, non-linear and interaction effects of working conditions

This study addresses a gap in much of the research involving stress among high-risk occupations by investigating the effects of linear, non-linear and interaction models in a law enforcement organization that has undertaken a series of efficiency-driven organizational reforms. The results of a survey involving 2085 police officers indicated that the demand-control-support model provided good utility in predicting an officer's satisfaction, commitment and well-being. In particular, social support and job control were closely associated with all three outcome variables. Although the demand × control/support interactions were not identified in the data, there was some support for the curvilinear effects of job demands. The results have implications for the organizational conditions that need to be addressed in contemporary policing environments where new public management strategies have had widespread affects on the social and organizational context in which policing takes place.

Work choices : Increasing productivity, job creation and work-family balance? Not likely!

The introduction of the Workplace Relations (Work Choices) Amendment Act 2005 (Cth) has resulted in one of the most contentious changes to federal labour law in Australia’s history. There is considerable debate as to whether it has fulfilled the government’s expectations of giving ‘flexibility’ and ‘choice’ to both employees and employers or if there has been an overall deterioration in working conditions. In order to identify the impact of this legislation in the workplace, Deakin University surveyed 11,000 AHRI members throughout Australia. Preliminary results are reported in the paper but, even at this early stage, there is sufficient material to critically comment upon the changes to Australia’s industrial relations system. It appears that the vast majority of AHRI members felt that there had been no change in productivity, job creation or work-family balance and that only a few expected an improvement over the next 3 years.

Officer wellbeing, satisfaction and commitment : job conditions of Australian law enforcement personnel

Excessive job stress caused by unreasonably high employer demands, low control over one's own work and limited support can have far-reaching effects for the individual, organisation and community. The present study sought to investigate the relationship between officer working conditions and their self-reported levels of wellbeing, satisfaction and commitment using a well-known job strss model, the demand-control-support (DCS) model. Using a large (N= 2085) sample of law enforcement personnel, findings indicated that social support from work sources was the best predictor, whilst job control and workload both had significant influences on levels of employee wellbeing, satisfaction and commitment. Additionally, non-linear relationships were found between workload and wellbeing and satisfaction, indicating that both high and low levels of workload can produce negative outcomes. The results have implications for job design and management training programs, particularly in reference to social support training and workload models.

Do female and male employees in Iran experience similar work-family interference, job and life satisfaction?

This study aims at examining gender differences in the experience of work–family interference and perceived job–life satisfaction in a group of Iranian employees. The participants in the study consist of 387 Iranian male and female employees from a variety of organizations. The results of t tests and multiple regression analysis using EQS 6.1 support the hypothesis that Iranian male and female employees experience similar interference in their work–family domains although they spend different numbers of hours in the workplace. The findings also show that whereas work-to-family interference has significant and negative effects on job–life satisfaction among male employees, for female employees, working hours and family-to-work interference had even more significant and negative effects on their job–ife satisfaction. Implications are discussed and recommendations made regarding future research and interventions in this area.

Job satisfaction versus office environment : influences on academic knowledge worker productivity

This research paper provides a more encompassing review of self-assessment of a variety of knowledge worker activities, as well as providing the basis for these self assessments. A novel aspect is the inclusion of motivational affects which are considered alongside work environment influences on productivity. A questionnaire was administered on 25 academics. The group was questioned for their perceptions of their productivity for a range of their everyday activities and what areas of their work environment enhanced or disrupted their productivity. Job satisfaction was also assessed. The results from a series of self-assessments show that on the whole, the sample perceive themselves to be reasonably to very productive in all tasks undertaken. Staff satisfaction measures are generally very positive with collaboration and job enjoyment being motivational factors for this group. Noise levels, thermal conditions, poor lighting and a lack of storage seem to be the biggest inhibitors of productivity. Having a window to look out of and access to natural light seem to enhance an academics view of their productivity.