PAY AND OFFER OF BENEFITS AS SIGNIFICANT DETERMINANTS OF JOB SATISFACTION – A CASE STUDY IN THE CZECH REPUBLIC

Emotions are an important factor that affects employee performance; job satisfaction or dissatisfaction represent one of the important components of emotions. There are very few studies dealing with determinants that affect job satisfaction in the Czech Republic. The studies published so far show that the Czech Republic has ranked and still ranks among the states with the lowest level of satisfaction. The aim of this study is to answer the research question whether changing trends in the level of pay and fringe benefits correlates to overall job satisfaction, or satisfaction with pay and fringe benefits. Pay and fringe benefits are significant determinants that affect job satisfaction. The results of the study show that they lower the overall level of job satisfaction since the average level of these determinants is lower than the average level of overall job satisfaction. Overall job satisfaction is increased by other factors, such as supervision, co-workers, nature of work and communication, whose average level of satisfaction exceeds 4.00. Therefore, the emerging trend of rising pay levels is definitely good for increase the level of overall job satisfaction. On the other hand, it is impossible to prove that changing trends in pay correlates to overall job satisfaction, which is also significantly affected by other determinants. It would be suitable, within the framework of further surveys, to expand the area of examination to include additional determinants, such as family life satisfaction, or to examine how job satisfaction affects life satisfaction. The paper was written with the support of the specific project 2016 grant “Determinants affecting job satisfaction” granted by the University of Hradec Králové, Czech Republic.