The relationship of Minimum Wage on Employees' Well-being, Job satisfaction and Work-life balance

PurposeThis study aims to investigate, through employees' perceptions in Greece's private sector, the relationship between the minimum wage and employee well-being, job satisfaction and work-life balance.Design/methodology/approachA structured questionnaire was used consisting of four sections: employees' personal characteristics, employee well-being, job satisfaction and work-life balance. Due to its normal distribution, correlations, T-test and simple linear regression models were executed to examine the relationships between the variables.FindingsThe main findings were: a) the wage had a significant relationship with job satisfaction and employees' well-being, b) there is no strong statistical significance between work-life balance and wages, c) the wage was found to be a significant predictor of employees' well-being and work life balance, and d) there were statistically significant differences between the group of employees who received the minimum wage and the group of employees who received higher wages in terms of employees' well-being.Originality/valueThe originality of this study is that it combines a purely financial concept, such as the minimum wage, with specific elements of organizational behaviour, such as employee well-being. A better understanding of this relationship will enable companies to increase employee productivity through their willing cooperation.