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Abstract:
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It is predicted that 40% of the federal workforce will retire between 2006 and 2015 (U.S. Office of Personnel Management). As a result, a major challenge facing the federal government in the future will be attracting and retaining talented men and women. This study investigates the relationship between job satisfaction and non-monetary rewards in the federal workforce. Using data from the Office of Personnel Management's Federal Human Capital Survey 2006, regression analysis is applied to assess the effects of non-monetary rewards impact on federal job satisfaction. The conclusions reached in this analysis show that non-monetary rewards are important factors contributing to job satisfaction for employees in the federal government. Specific findings include that satisfaction with pay explains only 16 percent of job satisfaction. The effect of having a sense of personal accomplishment through one's work and being able to be an active participant in the decision making process had a greater impact on job satisfaction than pay. Given these findings, the satisfaction and the ability to retain highly capable federal workers will not just depend on pay but on these other non-monetary factors. Overall, these results will help to determine what changes can be made to policies to increase federal job satisfaction in order to help recruit and retain the new generation of federal employees. |