Paper #5

Financial Well-being Among Employees Working in the Pharmaceutical SMEs in Indonesia

Muzafar Hussain Shah, Sheema Matloob, Saeed Abbas Shah and Syed Iradat Abbas

Abstract: Well-being has a major contribution to the prosperity and strong economy system of any country. There are several factors that possibly improve employee well-being including income and family background and education level. The purpose of this study is to determine the effect of income and family background with education level as an intervening variable. Purposive sampling technique was used to select the targeted respondents. Structural equation modeling through Smart PLS was applied to test the proposed research hypotheses. The findings demonstrate that Income and family background have a positive impact on the well-being of SMEs operating in pharmaceutical SMEs industry in Indonesia. This study will help to comprehend the importance of income and family background on well-being in SMEs and provide guidance to capitalize it prudently. This research contributes to the existing literature by investigating effect of income, family background and education level on well- being of pharmaceutical manufacturing SMEs in Indonesia.

Keywords: Financial Wellbeing; Education Level; Income; Family Background.