The Kenexa Research Institute Finds That Employees' Experiences at Work Influence Beliefs Toward Personal Financial Well-Being
Planned Consumer Purchases Also Subject to Employee Sentiment Toward Organization
| Source: Kenexa
WAYNE, PA--(Marketwire - February 3, 2009) - The Kenexa Research Institute (KRI) recently
examined employees' opinions of their employer and current work situation
and the impact on their personal financial situation and stated intentions
regarding purchasing behaviors.
In a survey of employee opinions, KRI investigated the extent to which the
current economic conditions cause workers to worry about their personal
financial well-being as well as intentions to delay or cancel anticipated
purchases. Additionally, workers in the United States were asked about
their feelings toward organizational leadership and the effectiveness of
business processes at work.
Results indicate employees' feelings about their own personal financial
well-being are strongly influenced by their experiences at work. Not
surprisingly, an important factor influencing how employees feel about work
is how effectively they feel their organizations are being led.
Workers who have unfavorable views of their leadership are much more likely
to report being worried about their personal financial situation, which was
found to be strongly related to stated purchasing intentions. Specifically,
employees who rate their leadership unfavorably are much more likely to
express concern regarding their personal financial situation compared to
those who have favorable views of their leadership's effectiveness. In
addition, those who rate their leadership unfavorably are twice as likely
to state that they are delaying current purchases.
"These results indicate that American consumerism is very much affected not
only by the reality of having a job or not, but also by employees'
confidence in the management of the organization they work for.
Organizations are certainly under scrutiny to perform better and
perceptions of the effectiveness of their leadership in the U.S. are also
likely to have a pervasive effect on the American economic picture,"
commented Jeffrey Saltzman, a principal at Kenexa.
Additionally, when examining the differences between female and male
employees in the U.S., an interesting pattern emerged. Females, when
equally favorable toward their leadership and the effectiveness of how the
work is being managed as men, are more likely to indicate that they are
worried about their personal financial situation and therefore are putting
off anticipated purchases.
Even when favorable toward their organization's leaders and work processes,
female workers are 30% more likely than males to indicate that they are
planning to defer or cancel purchase decisions to a great extent.
Seventy-five percent of female and male workers who are unfavorable toward
their organization's leadership and work efficiency indicated that they are
delaying or cancelling purchases to at least some extent.
Study Details
This study was part of a larger quarterly study that Kenexa undertakes to
measure business conditions in major markets. Kenexa has an unequalled
database of worldwide employee survey results from workers in Brazil,
Canada, China, France, Germany, India, Italy, Japan, Russia, Spain, the
United Kingdom and the United States that allows the company to provide
exceptional insights to organizations of all sizes on a global basis. This
business-critical information enables international organizations to better
maximize their overall performance.
About Kenexa
Kenexa (NASDAQ : KNXA ) is a global leader in building the world's greatest
workforces using a combination of software, employee research science and
business process optimization. Kenexa's global solutions include applicant
tracking, onboarding, recruitment process outsourcing, employment branding,
skills and behavioral assessments, structured interviews, performance
management, multi-rater feedback surveys, employee engagement surveys and
HR Analytics. Kenexa is headquartered in Wayne, Pa. (outside Philadelphia).
Additional information about Kenexa and its global products and services
can be accessed at www.kenexa.com.