Saint Paul School of Professional Studies

Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

Fostering Excellence: Unveiling the Relationship Between Financial Well-

being and Job Performance at Saint Paul School of Professional Studies

Abellar, Francis A.

Belicano, Sean Rhowan D.

Evardone, Trina Ysabelle A.

Kho, Alexxa Angela G.

Tiu, Sean Beda A.

Introduction

The relationship between financial well-being and job performance is an important research topic in
organizational psychology. Previous studies have explored factors affecting job performance, such as
working environment, interpersonal relationships, job satisfaction, commitment, and leadership styles
(Tran et al., 2018). Few studies have focused on the relationship between financial well-being and job
performance (Kundi et al., 2020). This study aims to fill this gap by examining the relationship between
financial well-being and job performance among the Saint Paul School of Professional Studies
employees. By enriching our understanding of the consequences and processes of financial well-being in
the workplace, this study will shed light on the importance of financial well-being in enhancing job
performance.

Financial well-being is essential to overall health and well-being (Spann, 2014). Personal financial
stability is becoming increasingly valuable as a convergence of events has tested one's ability to manage
one's finances (Spann, 2014). Financial wellness involves satisfaction with financial gain and savings,
awareness of opportunities, the ability to make ends meet, a sense of fabric security, and a sense of
fairness in the reward distribution system (Aripin & Puteh, 2017). Financial well-being is an essential
component of a good quality of life. Personal financial stability is becoming more valuable as a series of
events has put one's capacity to handle one's resources to the test. Financial uncertainty can reduce well-
being and raise irresponsible financial behavior. As a result, taking control of one's financial health is
critical to getting well, living comfortably, and retiring well.

Job performance is the most important and researched variable in industrial management and
organizational behavior (Carpini et al., 2017). Job performance is a crucial variable in industrial
management and organizational behavior and is the most important and researched one. Job performance
refers to an individual's contribution to an organization's success. It is an individual-level variable that is
tracked and observed in many organizations. Job performance models have been developed to specify the
content domain of job performance and to clarify the relationships among individual differences variables
such as personality and organizational characteristics, including reward systems to job performance.

The relationship between financial well-being and job performance is a growing subject of study in
organizational psychology and management research. Moreover, understanding the relationship between
financial well-being and job performance can assist firms in developing measures to enhance employees'
financial health while improving overall productivity and performance. The research objectives are to
evaluate employees' financial well-being and job performance at Saint Paul School of Professional
Studies and explore the correlation between these two factors.

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Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

Statement of the Problem

This study investigates the relationship between financial well-being and job performance of employees
at Saint Paul School of Professional Studies (SPSPS). Specifically, this study will answer the following
research questions:
1. What is the level of financial well-being of employees at Saint Paul School of Professional
Studies?
2. What is the employees' job performance level at Saint Paul School of Professional Studies?
3. Is there a significant relationship between financial well-being and employees' job performance at
Saint Paul School of Professional Studies?
Hypothesis
H0: There is a significant relationship between financial well-being and employees' job performance at
Saint Paul School of Professional Studies.

H1: There is no significant relationship between financial well-being and employees' job performance at
Saint Paul School of Professional Studies.

Theoretical and Conceptual Framework

This section introduces the theoretical and conceptual framework, which covers the fundamental concepts
and theories relevant to the study research questions. The theoretical framework is based on various
concepts and theories, which serve as a foundation for assessing the possible impact of the Relationship
Between Financial Well-being and Job Performance of Employees at Saint Paul School of Professional
Studies. While the conceptual framework offers a conceptual structure for the study, it also provides a
foundation to investigate the relationship between financial well-being and job performance.

Expectancy Theory
Victor Vroom's expectancy theory posits that motivation is based on expecting a desired outcome (Vroom
Expectancy Motivation Theory - YourCoach, 2021). Employees may work harder and perform better in
financial well-being and job performance if they believe their efforts will lead to better financial rewards
(e.g., promotions, bonuses, raises). This theory aids in understanding the relationship between financial
well-being and job performance and identifies the factors that motivate employees to perform well.

Human Capital Theory

This theory posits that individual are an organization's most valuable asset. Employees who have the
necessary skills, education, and training may command higher salaries and, in turn, contribute more to the
organization's success (Kenton, 2023). This Theory of the relationship between financial well-being and
job performance is to understand how investing in employees' education, training, skills, and experience
can increase their productivity and efficiency, leading to better financial performance.

Well-being Theory
Positive psychology and well-being theory emphasize that financial well-being is just one aspect of
overall well-being (Riitsalu et al., 2023). When employees experience higher levels of overall well-being,
which includes financial well-being, they may be more likely to perform well at work due to a positive
emotional state and increased motivation. This theory seeks to understand how employees’ psychological
and financial well-being can impact their job performance.

Conceptual Framework

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Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

Figure 1. The Financial Well-being on Job Performance

The framework illustrates the relationship between "Financial Well-being" and "Job Performance" within
the study context. "Financial Well-being" is composed of three key elements: "Financial Behavior,"
"Financial Satisfaction," and "Financial Perception." On the other hand, "Job Performance" represents the
outcome variable. This framework provides a foundational understanding of how the various facets of
financial well-being may directly impact employees' job performance at Saint Paul School of Professional
Studies, focusing exclusively on this relationship without considering additional factors, hypothesis, or
data collection procedures.

In the conceptual framework for the study on "The Relationship Between Financial Well-being and Job
Performance," financial well-being is the central construct, encompassing financial behavior, satisfaction,
and perceptions. On the right, we have job performance as the outcome variable, representing employees'
job-related effectiveness. This framework simplifies the exploration, emphasizing the direct association
between financial well-being and job performance among Saint Paul School of Professional Studies
employees, without considering mediating factors, moderating factors, hypothesis, or data collection,
focusing solely on the core relationship of interest.

Scope and Limitations

The study investigates the relationship between financial well-being and job performance among Saint
Paul School of Professional Studies employees. The study will explore the impact of financial well-being
on job performance and the factors that contribute to financial well-being, such as job satisfaction,
perceived control, and intrinsic rewards. The study will use a quantitative research design, with data
collected through surveys and analyzed using statistical methods. The study's results will provide insights
into the relationship between financial well-being and job performance and may inform strategies for
improving employee’s well-being and performance.

The study will be limited to Saint Paul School of Professional Studies employees and may not be
generalizable to other organizations or populations; the study will rely on self-reported data, which may
be subject to bias or inaccuracies. The study will focus on financial well-being and may not capture other
aspects of well-being that may also impact job performance. Lastly, the study may be limited by the
sample size and response rate, which may affect the statistical power and generalizability of the results.

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Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

Significance of the Study

The study explores the vital link between financial well-being among Saint Paul School of Professional
Studies employees. This investigation investigates how financial stability impacts job productivity,
engagement, and organizational performance. The findings from this study are expected to offer critical
insights into strategies and support systems that can enhance employees' financial well-being,
consequently improving job satisfaction and organizational effectiveness at the institution.

The significance of this research benefits the following sectors:

The Employees. The findings of this study will provide valuable insights into The Relationship
Between their Financial Well-being and Job Performance. This information will guide aspiring
researchers interested in studying employees’ well-being and performance, as it will provide a
better understanding of the aspects of employees’ well-being and can improve employees' job
satisfaction, performance, and well-being, leading to better organizational outcomes.

The Employers. The findings of this study can provide insights that address the aspects of
employee well-being, including physical, psychological, social, and financial well-being. By
addressing the aspects of employee well-being, employers can improve employee job satisfaction,
job performance, and overall well-being.

The Researchers. The findings of this study can be helpful for both current and future
researchers since they may improve the knowledge and understanding in the area of The
Relationship Between Financial Well-being and Job Performance, and it can act as the basis for
further research projects.

Methodology

Research Design
This study will employ a quantitative research design, specifically descriptive and correlational, to
explore the Relationship Between Financial Well-being and Job Performance of Employees at Saint Paul
School of Professional Studies. According to (Bhat, 2023), Descriptive research serves as a foundational
pillar in quantitative research design by enabling the researchers to depict and understand various
phenomena or situations comprehensively. It provides an invaluable in-depth view of the subjects under
investigation, shedding light on their essential features and characteristics. On the other hand,
correlational research plays an equally vital role by delving into the relationships between multiple
variables, elucidating their associations, and measuring their magnitude and direction. In contrast, it
refrains from making claims about cause and effect. Together, these two types of research form an
essential framework, empowering the researchers to make informed and cautious decisions within their
respective fields of study.

Research Locale
The research locale for this study is Saint Paul School of Professional Studies (SPSPS). SPSPS was
chosen due to its direct relevance to the study's objectives of examining the relationship between financial
well-being and job performance. It offers easy accessibility, eliminating travel complexities, and ethical
considerations can be addressed with the institution's ethics committee. The diverse employees at SPSPS
allows for a comprehensive investigation across various backgrounds and roles, with access to relevant
data readily available. The institution provides a safe and controlled environment for data collection,
potentially offering research facilities. However, findings may have limited generalizability beyond

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Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

SPSPS, could be influenced by self-reporting bias, and might only encompass some factors affecting
employee well-being and performance.

Sampling Method
The research participants for this study, investigating the relationship between financial well-being and
job performance among Saint Paul School of Professional Studies employees, are selected using a
stratified sampling method. In stratified sampling, the population is divided into subgroups or strata, and
participants are then selected from each stratum based on specific criteria (Thomas, 2023). The
employee’s population is divided into two strata based on job roles: school administration and faculty.

To be eligible for selection as a participant, an employee had to meet the following criteria: hold a
position within the school and have been employed for at least one year, ensuring a baseline
understanding of the institution and its work environment. Thirty (30) participants were selected
randomly in the school administration and thirty (30) for the faculty, resulting in sixty (60) respondents.
This approach ensured representation from various job roles within the institution, providing a
comprehensive understanding of how financial well-being relates to job performance across different
areas of the organization. The sample size of sixty (60) participants aligns with the requirements of this
study. It allows for a thorough exploration of the relationship between financial well-being and job
performance within the Saint Paul School of Professional Studies.

Data Gathering Procedure

To examine the relationship between financial well-being and job performance among Saint Paul School
of Professional Studies employees, the researchers will conduct a survey using a survey questionnaire.
The process will include the following:

Phase 1: The sample size for this study will be sixty (60), divided into two groups depending on their job
roles: school administration and faculty. The stratified sampling approach was utilized in this study,
requiring the employees to meet specific criteria before being considered for participant selection.

Phase 2: After identifying the participants, the researchers will distribute and sign a written consent form,
allowing the researchers to determine whether the individuals are willing to engage in the study.

Phase 3: Pilot research is conducted on a small scale to determine the feasibility and acceptability of a
method that will be utilized in a larger-scale investigation. It is a preliminary study designed to ensure the
logistics of a more comprehensive investigation that may be undertaken in the future. This will help the
researchers identify any problems or limitations. The outcomes of the pilot study can be used to make
changes to the research study.

Phase 4: The researchers will then survey to understand better the relationship between employees'
financial well-being and job performance. Survey research is a quantitative approach to gathering
information from respondents. It entails gathering information from a sample based on their responses to
questions. Survey research collects information about a group of people by asking them questions and
analyzing the responses. Using this method, the researchers can examine the relationship between
financial well-being and job performance and determine whether employees with higher levels perform
better than those with lower levels of financial well-being.

Phase 5: The researchers will now assess the survey questionnaire responses to discover the factors most
strongly connected with financial well-being and job success.

Data Analysis

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Saint Paul School of Professional Studies
Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

The data analysis for this study will use descriptive and correlational analysis to investigate the
relationship between the financial well-being and job performance of employees at Saint Paul School of
Professional Studies (SPSPS).

Descriptive analysis is a type of data analysis that helps describe, show, or constructively summarize data
points such that patterns might emerge that fulfill every data condition (Rawat, 2021). For this study, it
will involve two primary variables. First, the financial well-being of employees will be examined.
Descriptive statistics, including the mean, median, and standard deviation, will be calculated since these
will summarize the data set and help describe the typical data point (Hayes, 2023). The provided statistics
will provide a clear insight into the financial well-being of the employees at SPSPS.

Additionally, the analysis will be extended to include an evaluation of job performance, applying a
similar descriptive statistical approach. This analysis will be instrumental in gaining a comprehensive
understanding of the level of performance exhibited by the employees at SPSPS. Descriptive analysis is
preferred because it establishes a solid basis for summarizing and interpreting the data, enabling a
comprehensive understanding of the studied variables.

The second data analysis technique to be used is Correlational analysis specifically Regression analysis.
Regression analysis is a set of statistical methods used to describe the relationships between a set of
independent variables and a dependent variable (Frost, 2017). Simple linear regression analysis is one of
the sets of statistical methods of Regression analysis which will be used to assess the relationship between
a dependent variable and an independent variable (Taylor, 2023). In this study, it will be utilized to
measure the direction and influence of the relationship between financial well-being and job performance.
The researchers will create a scatter plot to represent the correlation visually. The formula to be used for
this is:

Y = a + bX + ε
Where Y represents the dependent variable, (dependent variable), and X represents the independent
variable, (independent variable). The coefficients "a" and "b" are essential parameters that are estimated
in statistical analysis to help us understand the strength and direction of the association between two
variables.

The term ε (epsilon) represents the error term, it is used to capture the unexplained or residual variation in
the dependent variable Y that cannot be accounted for by the independent variables included in the model.

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Research in Daily Life 1: Qualitative Research 2nd Sem, A.Y. 2023-2024

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