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Multidimensional model of managing older employees: The case of financial service companies in Slovenia

Author

Listed:
  • Rožman Maja

    (University of Maribor, Faculty of Economics and Business, Maribor, Slovenia)

  • Čančer Vesna

    (University of Maribor, Faculty of Economics and Business, Maribor, Slovenia)

Abstract

Future economic growth and competitiveness will increasingly depend on how effectively employers can utilise their ageing workforces. To manage the inevitable changes in demographics, employers need to start preparing for an ageing workforce and developing strategies to manage and retain older employees. The main objective of this paper is to determine the impact of leadership and employee relations on work satisfaction of older employees, as well as to determine the impact of work satisfaction on the work engagement of older employees in financial service companies in Slovenia. To test the hypotheses, the authors used structural equation modelling. The results show that the effects of leadership and employee relations on work satisfaction in the case of older employees in financial service companies in Slovenia are positive, and the effect of work satisfaction on the work engagement of older employees is positive, too.

Suggested Citation

  • Rožman Maja & Čančer Vesna, 2019. "Multidimensional model of managing older employees: The case of financial service companies in Slovenia," Croatian Review of Economic, Business and Social Statistics, Sciendo, vol. 5(2), pages 76-89, December.
    • Handle: RePEc:vrs:crebss:v:5:y:2019:i:2:p:76-89:n:7
    DOI: 10.2478/crebss-2019-0013
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    References listed on IDEAS

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    1. Wilmar Schaufeli & Marisa Salanova & Vicente González-romá & Arnold Bakker, 2002. "The Measurement of Engagement and Burnout: A Two Sample Confirmatory Factor Analytic Approach," Journal of Happiness Studies, Springer, vol. 3(1), pages 71-92, March.
    2. Dorien T. A. M. Kooij & Karina Voorde, 2015. "Strategic HRM for Older Workers," Springer Books, in: P. Matthijs Bal & Dorien T.A.M. Kooij & Denise M. Rousseau (ed.), Aging Workers and the Employee-Employer Relationship, edition 127, chapter 0, pages 57-72, Springer.
    3. Anitha J., 2014. "Determinants of employee engagement and their impact on employee performance," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 63(3), pages 308-323, April.
    4. Henry Kaiser, 1974. "An index of factorial simplicity," Psychometrika, Springer;The Psychometric Society, vol. 39(1), pages 31-36, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    employee relations; leadership; older employees; structural equation modelling; work engagement; work satisfaction;
    All these keywords.

    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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