Abstract
This research paper investigated the job satisfaction and employee engagement as drivers of Financial Wellbeing and also examined the relationship between Financial Welling (FW) and Employee’s Productivity (EP) in the textile sector. A cross-sectional survey design was utilized, using a sample of 507 textile employees from Northern India Textile sector. The descriptive results revealed that experienced single female employees working on contractual basis reported higher FW on the contrary married contractual employees working at lower level reported higher level of productivity respectively. Moreover, the FW model was tested for second-order construct. The results identified job satisfaction and employee engagement as dimensions of financial wellbeing on the contrary occupational stress found to be a predictor of employee productivity therefore, FW is a two-factor structure model. The study revealed how the drivers of financial wellbeing at work correlates with productivity in the textile industry as well as the individual elements that influence productivity and financial wellbeing. The findings highlight a moderate level of financial wellbeing and productivity experienced by employees in the textile sector indicating a significant relationship between them. It is suggested that employees should be equitably compensated based on their demographics and performance. Similarly, policies should be incorporated for managing employee’s financial wellbeing and productivity.
Keywords: Employee Productivity, Financial Wellbeing, Structural Equation Modelling, Textile Industry.