Effects of Job Security Perception on Precautionary Saving of Bank Personnel in Chiang Mai Province

Abstract

Nowadays, technology more role in daily life. Which is developing rapidly and may affect the economy because when technology replaces it, it will affect the reduction of the employment of bank employees. Saving money is therefore important for future financial planning. This study aimed to study the effect of job security perception on precautionary saving of bank personnel in Chiang Mai province. By random sampling of 400 questionnaires, it was found that most of them had an average monthly income of 20,001 – 40,000 baht. And saving money in the form of savings deposits, fixed deposits, with an average monthly savings amount of 1 – 5,000 baht. Assessing job security, the study found that employees who felt insecure about their job and faced the risk of job loss had enough savings to cover expenses for 6 – 12
months. Analyzing the relationship between job security and precautionary savings, the study determined that employees with a master's degree and higher average monthly income tended to save more. Additionally, employees who received suitable bonuses and regardless of their organizational level demonstrated a higher propensity for savings. However, due to the current economic situation, precautionary savingshave decreased, suggesting that job security did not have a significant effect on precautionary savings. Nevertheless, if employees receive welfare benefits or increased compensation, they were more likely to save additional funds for emergencies.