Does attitude toward money moderate the relationship between intrinsic job satisfaction and voluntary turnover?

Abstract

The present study expanded Judge's (1993) study and tested the hypotheses that people's Money Ethic endorsement (Tang, 1992, 1995) would moderate the intrinsic job satisfaction-withdrawal cognitions relationship and the intrinsic job satisfaction-voluntary turnover relationship in a sample of mental health and mental retardation professionals. Results suggested that Money Ethic endorsement was a moderator for both relationships. For employees with high Money Ethic endorsement, their voluntary turnover was high regardless of their intrinsic job satisfaction. Employees with low Money Ethic endorsement and low intrinsic job satisfaction had the lowest voluntary turnover. Thus, in this sample, just a pull (high Money Ethic) is needed to experience turnover. Money Ethic endorsement predicted actual turnover behavior, but withdrawal cognitions did not. Money Ethic endorsement was not a mediator of the intrinsic job satisfaction and turnover relationship. Results are discussed in terms of the small, but growing literature on the psychology of money (Furnham & Argyle, 1998). Future research needs to re-focus on employees' actual turnover behavior, rather than the substitutes or proxies of turnover behavior, such as withdrawal cognitions.