The Impact of Employee Empowerment and Job Satisfaction on Perceived Financial Performance

Abstract

The scope of the study is to examine the impact of employee empowerment and employees' job satisfaction on the perceived financial performance of Greek hotel firms during the COVID-19 pandemic crisis. The study utilises primary data collected through a questionnaire from 526 hotel employees of luxury hotels in Greece during the period May-June 2021. Principal component analysis was performed for the extraction of the main variables and regression analysis was used for examining the impact of employee empowerment and job satisfaction on hotel firms perceived financial performance. Regression results revealed that both employee empowerment and job satisfaction impact positively on perceived financial performance, with employee empowerment having the largest impact among the two. This chapter is the first within the Greek hotel industry that tries to examine the significance of employee empowerment and job satisfaction on perceived financial performance, under the pandemic outbreak.