Working Title:
Work Motivation and Financial Literacy among Non-Academic Personnel at the University of
San Agustin
Stephanie M. Dadivas, PhD
Doris P. Lauron, PhD
Introduction
Background
Motivation at work is the desire or willingness of an organization's employees to
perform well in their job. It is an indication of the level of their enthusiasm for and
commitment to their work and profession. Employee motivation has a considerable
impact on their energy, creativity, and productivity. It also subsequently affects the
business success of the company. That is why most employers make an effort to
maintain and improve it. They may do this by ensuring a supportive and innovative work
environment, acknowledging employee contributions and achievements, and offering
decent salaries and benefits.(https://in.indeed.com/career-advice/careerdevelopment/motivation-at-work)
Financial literacy is skill and knowledge that would financially secure the academic
personnel and be proactive regarding the market for financial goods and services. They
are also considered financially literate if they are well-versed regarding issues with
money and prices and know how to manage their finances wisely. (Tomášková et al.
(2011). In the context of rapid changes and constant developments in the financial
sector and the broader economy, it is important to understand whether people are
equipped to effectively navigate the maze of financial decisions that they face every day.
They need to have the knowledge on their capacity to provide themselves with their
needs and wants in order to make better financial decision-making that will guide them
to what goods they can afford for themselves.
There is a positive relationship between work motivation and
financial literacy. According to a study by the Organisation for
Economic Co-operation and Development (OECD), financial literacy
is the knowledge and understanding of financial concepts and risks
as well as the skills, motivation, and confidence to apply such
knowledge and understanding in order to make ffective decisions
across a range of financial
situations.(https://sjes.springeropen.com/articles/10.1186/s41937019-0027-5)
By analyzing the correlation between work motivation and financial
literacy among non-academic employees in a university setting, this paper
aimed to close this gap in the University of San Agustin. The researchers
have taken curiosity, in finding out what motivate the non-academic
employees in their work and if they are motivated, does it directly result
in higher financial literacy as compared with those who are less motivated.
Similarly, the researchers also wanted to improve upon the existing
program of the Human Resource Management Office of the University of
San Agustin using this study findings that could help strengthen and enrich
employee's motivation
Statement of the Problem:
1. What is the level of work motivation among the non-academic personnel of the
University of San Agustin in terms of intrinsic and extrinsic motivation when respondents
are taken as a whole and grouped according to age, sex, length of service and employment
status?
2. What is the level of financial literacy among the non-academic personnel of the
University of San Agustin in terms of knowledge of financial management, knowledge of
savings and investments and knowledge of loans when respondents are taken as a whole and
grouped according to age, sex, length of service and employment status?
3. Are there significant differences in the level of work motivation among the non-academic
personnel of the University of San Agustin in terms of intrinsic and extrinsic motivation
when respondents are grouped according to age, sex, length of service and employment
status?
4. Are there significant differences the the level of financial literacy among the nonacademic personnel of the University of San Agustin in terms of knowledge of financial
management, knowledge of savings and investments and knowledge of loans when
respondents are grouped according to age, sex, length of service and employment status?
5. Is there a significant relationship between work motivation and financial literacy among
the non-academic personnel of the University of San Agustin?
Hypotheses:
1. There are no significant differences in the level of work motivation among the nonacademic personnel of the University of San Agustin in terms of intrinsic and extrinsic
motivation when respondents are grouped according to age, sex, length of service and
employment status.
2. There are no significant differences the the level of financial literacy among the nonacademic personnel of the University of San Agustin in terms of knowledge of financial
management, knowledge of savings and investments and knowledge of loans when
respondents are grouped according to age, sex, length of service and employment status.
3. There are no significant relationship between work motivation and financial literacy
among the non-academic personnel of the University of San Agustin?
Theoretical Framework
The Theory of Self-Determination or SDT by Ryan & Deci (1985) can differentiate between several
motivational styles based on the motives or objectives that drive action. It relates to human motivation, personality,
and best performance. The theory asserts that there are two primary motivational types: intrinsic and extrinsic, which
are significant determinants of who we are and how we act. Intrinsic motivation is pursuing an activity for its own
sake rather than for a distinct outcome whenever an intrinsically motivated person takes action because it is enjoyable
or challenging to do rather than as an outcome of incentives, pressure, or rewards.
On the other hand, extrinsic motivation is relevant whenever an action is carried out to achieve a distinct goal.
Therefore, extrinsic motivation, compared to intrinsic motivation, is engaging in a task without any thought of
reward, instead for the enjoyment of the action rather than for its practical purposes. However, SDT contends that
extrinsic motivation is not always non-autonomous, in contrast to those perspectives that perceive its level of
autonomy can differ significantly. Thus, the variables used in this study, such as intrinsic and extrinsic motivation,
were anchored from the Theory of Self-Determination of Ryan & Deci (1985).
Theoretical Framework
The variables in Financial Literacy were adopted from the concept and study of
Dwiastanti et al. (2020) titled “Financial Literacy and Entrepreneurial Motivation in
Supporting Economic Activity and Business Sustainability of Informal Sector
Entrepreneurs.” The study shows the influence of financial literacy and entrepreneurial
motivation in economic activities. Budgeting, savings, loans, and investments are the four
common subjects in financial literacy. Thus, the study uses four (4) indicators to measure
the level of financial literacy: basic knowledge of financial management, knowledge of
savings and investment, knowledge of loans, and knowledge of insurance. The findings
offer empirical proof that basic knowledge in financial management, knowledge of savings
and investment, knowledge of loans, and knowledge of insurance all impact economic
activity. In this study, the variables were also anchored to this research paper but only focus
on the three indicators: knowledge of financial management, knowledge of savings and
investment, and knowledge of loans.
Research Design
This study used descriptive-correlational methods of research.
Descriptive research, as defined by Perumal & Ajit (2022), is an account
description of an item's current status understudy at the time of the research's
completion, and that is referred to as descriptive data. It is a method that is based on
observation and is used to evaluate the current situation. Correlation research, on the
other hand, according to Curtis et al. (2016), is utilized to identify prevalence and
relationships among variables and to predict events from current data and
knowledge.
In relation to the descriptive method, the researchers will be interested to
know the profile of the respondents, their level of entrepreneurial motivation, and
their level of financial literacy. Under the correlational method, the researchers
explored whether or not significant differences existed in the level of
entrepreneurial motivation and financial literacy among the non-academic
personnel of the University of San Agustin-Iloilo when they were grouped
according to according to age, sex, length of service and employment status.
Also, this study dwelled on the possible significant relationship between work
motivation and financial literacy.
Participants of the Study
The researchers, who are faculty members of the College of
Commerce at the University of San Agustin-Iloilo, identified the
university’s non-academic personnel as the most accessible
respondents of the study. Since most of the non-academic personnel
of the University of San Agustin are young and are often focused on
their future careers and goals and may be more open to thinking
about the long-term implications of their actions, given that they are
diverse group and a good sample to study about work motivation
and financial literacy.
Data Collection

This study will be conducted from July to August of 2023. In this
study, the data collection procedure observed the following stages:

First, the researchers will choose three validators for this study. The
questionnaire, alongside the validation forms, will be sent to each
validator; will give recommendations and evaluate the quality of the
questionnaire in terms of relevance, consistency, accuracy, and other
similar aspects. The three validators then will rate the data-gathering
instrument validation form with the following rating scale.
Data Collection
Second, the reliability test will be conducted with thirty (30) respondents from
the academic personnel who will not be the main respondents of the research and
have participated in the pilot test of the instrument's reliability. The purpose of the
pilot test is to determine the feasibility of the recommended data analysis method
for the study as well as how the respondent will respond to the questionnaire,
whether the statements are clear and simple to comprehend, and if there are any
items they would prefer not to respond to. The Cronbach’s Alpha will be used to
identify the reliability of the research instrument should be 0.7 or higher.
Finally, following the completion of the survey questionnaires, the researchers
will compile the responses to prepare for measurement and data analysis. Then, they
will encode the information using numeric codes and will sent the final results to the
statistician for further analysis. All questionnaires and data that will be obtained
shall be stored securely, and all statistical data will be computer processed and
analyzed.
Data Analysis
The following statistical tools will be used:

Frequency Count.

Mean.

Standard Deviation

t-Test for Two Independent Samples

One-way Analysis of Variance (ANOVA).

Pearson’s r.
References:
https://in.indeed.com/career-advice/career-development/motivation-at-work
Retrieved on May 23, 2023
Tomášková, H., Mohelská, H., & Němcová, Z. (2011). Issues of financial literacy
education. Procedia - Social and Behavioral Sciences, 28, 365-369.
https://www.sciencedirect.com/science/article/pii/S1877042811025080
Financial literacy and the need for financial education: evidence and
implications | Swiss Journal of Economics and Statistics | Full Text
(springeropen.com) Retrieved on May 23, 2023
https://sjes.springeropen.com/articles/10.1186/s41937-019-0027-5 Retrieved on
May 23, 2023
Ryan, R. M., & Deci, E. L. (2000). Intrinsic and extrinsic motivations: Classic definitions
and new directions. Contemporary Educational Psychology, 25(1), 54–67.
https://doi.org/doi:10.1006/ceps.1999.1020
Dwiastanti et al. (2020) titled “Financial Literacy and Entrepreneurial Motivation in
Supporting Economic Activity and Business Sustainability of Informal Sector
Entrepreneurs