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Dilpreet answered on
Apr 26 2024
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Literature Review: Annotated Bibliography and Resource Credibility Assessment
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Table of Contents
Introduction 3
Research Problem 3
Research Question 4
Annotated Bibliography 4
Conclusion 11
References 12
Introduction
In the everchanging job market, both non-monetary and salary benefits are responsible for shaping individuals’ job satisfaction levels. While compensation (i.e., monthly salary) is a regular process of giving remuneration in exchange for employees’ work, non-monetary benefits act like extra compensations that cover vacation leaves, medical insurance and retirement benefits. As per a study performed by SHRM (Society for Human Resource Management), nearly 61% of individuals claimed that additional benefits did boost their job satisfaction (Labitoria, 2021). The study also indicated that additional compensation enables employees to build security for their lives, enjoy personal space and save for the future. However, the perception of the vitality of salary versus non-monetary compensation can be different among different individuals. While some may opt for a high salary range, others might prioritise flexible work schedules and full-proof health coverage. The study presents this variety of perceptions as a research problem and designs a research question regarding the same. The study also proposes ten relevant research studies that can help solve the research problem.
Research Problem
In the context of increased job satisfaction levels, there is an ongoing debate about the relevance (and importance) of non-monetary benefits versus salary. These non-monetary benefits often come as health security or work flexibility. Traditionally, salary has been viewed as the primary motivator of employees. However, some recent trends indicated that non-monetary compensations are growing across different sectors and becoming relevant that these are delivering effects on job satisfaction levels.  However, the perception and priority of these two factors greatly vary among different individuals as mentioned earlier. As per people’s cultural background, age, gender, career stage and personal circumstances, they vouch for either salary, non-monetary compensation or both (Chamberlain, 2017). This significant variability often presents a challenge for employers who seek to develop comprehensive compensation packages that not only attract talents but also retail them in the long run. So, the cu
ent research identifies the research problem that investigates how individuals perceive the vitality of salary in comparison to non-cash benefits in the context of their overall job satisfaction. The cu
ent study aims to identify and evaluate the factors that directly or indirectly influence these perceptions. The findings of the research problem can generate valuable insights for global employers to better enforce their compensation frameworks to meet the preferences and needs of their talents.
Research Question
· How do employees perceive the importance of salary compared to non-monetary benefits such as flexible work a
angements or healthcare coverage in their overall job satisfaction?
Annotated Bibliography
Bell, T. (2021, October 31). A good job is about much more than pay. Workers value control and respect. The Observer. https:
www.theguardian.com/commentisfree/2021/oct/31/a-good-job-is-not-just-about-pay-workers-also-value-respect
Factors like job satisfaction, perception of being helpful to others and pride in working are important determinants while assessing the quality of a job. The articles showcased studies that proved jobs with non-monetary benefits attract individuals with better-off parents and it also argued that low earners should have control over what they do along with a higher minimum remuneration. The author of this article was a treasury bill servant who writes regularly about inequality and poverty in the UK. On the other hand, The Guardian has given 81% accuracy in the Ofcom survey and is considered as most trustworthy print media (newspaper) in the UK. Apart from this source’s credibility, the news article argues about the definition of a good job by stating non-monetary benefits are also important along with the minimum wage rate. This source also includes a US study where individuals usually perceive careers with additional non-monetary compensations. Lastly, with higher minimum wages employees do emphasise respect and control over their work.
Committee Report. (1978). Water Utility Salaries, Wages, and Employee Benefits: A Survey. Journal (American Water Works Association), 70(12), 670–674. http:
www.jstor.org/stable/41269235
The survey intended to understand that employee benefits were a vital part of salary and wage administration. Following the surveys of the AWWA Committee on Compensation and Benefits of Water Utility Personnel, this survey found that competitive salaries and properly given employee benefits such as overtime, social security and insurance plans can retain qualified personnel in the water service. As for the source and its author’s credibility, it can be said that the American Water Works Association (AWWA) has conducted utility benchmarking surveys for more than 20 years to help water systems employers identify areas of developing impactful goals, streamline improvements and understand the performance of their employees. The survey programs of AWWA leverage well-defined and time-tested performance indicators to track down different variables. As for relevance, the survey piece considered that employee benefits as a form of extra monetary compensation can strengthen any salary program. Non-monetary benefits like sick leaves, travel time, overtime, paid holidays, extra paychecks and insurance plans...