Work Engagement, Financial Wellness Support and COVID-19 Risk Perceptions in Egypt

Abstract

While the relationship between COVID-19 and employee attitudes has been studied in developed economies, little research has examined this relationship in emerging markets. This is relevant in the age of COVID-19, given the financial disruption it has caused. Also, little research has investigated how employee financial wellness programs are related to employee attitudes. This study examined how generalized perceptions of COVID-19 risk and perceptions of financial wellness support were related to work engagement. It also sought to understand whether financial wellness and COVID-19 risk interact in their relationship with work engagement. 106 employed persons in Egypt were surveyed. Results showed that, consistent with theory on perceived organizational support, perceptions of financial wellness support were positively related to work engagement. A significant interaction was also found, such that at high levels of financial wellness, COVID-19 risk perceptions were not related to engagement; however, at lower levels of financial wellness, COVID-19 risk was positively related to engagement. Practical and theoretical implications are discussed.