THE IMPACT OF DEMOGRAPHIC DIFFERENCES ON EMPLOYEE SATISFACTION WITH BENEFITS AND PERKS: EVIDENCE FROM SERBIAN FINANCIAL SECTOR

Abstract

After the downfall of socialist regimes, human resource management systems in transition countries like Serbia were transformed, establishing entirely new employee compensation system. In this paper, the most common benefits and perks in the Serbian financial sector, as well as their significance for the employee satisfaction are explored, with the focus on the effectiveness of its structure. The investigation of differences in impact of benefits and perks on employee satisfaction is performed with respect to gender, education, age, and job position of the respondents. The empirical research is conducted by a survey questionnaire. Results suggest that there are no differences in employee satisfaction between respondents of different genders, and education, while partial differences in employee satisfaction are confirmed with respect to age, and job position. The results indicate that benefits and perks in Serbian financial sector should be better structured, and provide guidelines for the investigation of more favorable total compensation package.