Correlating nurses’ levels of Psychological Capital with their reward preferences and reward satisfaction

Abstract

Orientation: Psychological Capital (PsyCap) is crucial for the effective performance of nurses, and may be influenced by rewarding employees according to their individual preferences.

Research purpose: The purpose of this study was to establish whether relationships exist between nurses’ levels of PsyCap and both their reward preferences and levels of reward satisfaction. It also aimed to investigate whether demographic differences occurred across these variables.

Motivation for the study: Currently there is limited research relating to PsyCap within the South African context, and none to date specifically related to the medical industry in South Africa. Moreover, it is vital that the reward preferences of nurses are taken into account when designing their rewards packages, in order for them to be satisfied within their respective medical institutions.

Research approach, design and method: This quantitative study was conducted using nonprobability sampling, with 116 nurses within the public and private sectors of the Nelson Mandela Metropole medical industry completing the questionnaire. The instruments utilised were the Psychological Capital Questionnaire and the Reward Preferences Questionnaire.

Main findings: It was found that the majority of the sample exhibited high levels of PsyCap. Correlations existed between PsyCap factors and certain reward preference and reward satisfaction factors. Significant differences occurred across the demographic variables of age, marital status, education level, tenure and sector.

Practical/managerial implications: In order to maintain high PsyCap levels and ensure that nurses are satisfied, medical institutions should take individual reward preferences into account and reward their nurses accordingly.

Contribution/value-add: These findings add to the current body of South African literature regarding PsyCap and reward preferences, and provide valuable insight into the use of rewards in improving levels of PsyCap within the medical setting. The consideration of nurses’ reward preferences when designing rewards packages can lead to enhanced PsyCap and improved reward satisfaction amongst nurses, possibly resulting in enhanced patient care.