Occupational pension scheme: an innovative tool in HRM

Abstract

Purpose

This paper aims to recognize whether occupational pension scheme (OPS) is offered in a varied set of measures intended to design a coherent human resources management of people. Second, the authors will study the relationship of these OPS with job satisfaction and job change. The interest of this ultimate goal lies in the relationship between job satisfaction and employee motivation, commitment and loyalty.

Design/methodology/approach

Statistical methodology is carried out from three approaches. First, a descriptive analysis to define what type of companies are offering these OPS and what positions are occupying the OPS beneficiaries. Second, an exploratory analysis is conducted to establish associations between variables. The authors use the X2 tests with contingency tables and ANOVA of one and two factors. In all cases, the requirement of homoscedasticities is checked through Levene test. Third, the authors conduct a joint analysis between the studied variables. Multiple correspondence analysis is used to analyze the association between certain characteristics of the firm and the fact to offer OPS and other social benefits. Finally, to assess the potential impact of OPS on the decision to change the job, the authors conduct a binary logistic regression analysis, in which the authors used control variables of certain characteristics of the individual and the company.

Findings

Companies who develop the most innovative human resources management policies offering more training, more social benefits and incentives, are also most likely to implement OPS. The OPS beneficiaries have higher levels of satisfaction and are less likely to change the job, regardless of the position held and salary.

Originality/value

To the extent that the future is perceived as more uncertain, the savings will be more oriented toward prevision. OPS can be a saving instrument with broad appeal for business and workers. And of course, it can be a tool of differentiation in the recruitment policy, which attract workers to the company over other competitors which do not offer this kind of benefits.

Citation

Garcés-Galdeano, L., García-Olaverri, C. and Huerta, E. (2016), "Occupational pension scheme: an innovative tool in HRM", Management Research, Vol. 14 No. 2, pp. 106-129. https://doi.org/10.1108/MRJIAM-09-2015-0611