Eschewing Love of Money and Materialism: A Potential Step Towards Avoiding Nurses’ Intention to Quit

Abstract

This study examined the effect of love of money and materialism on nurses' intention to quit their jobs. Primary (cross-sectional) data was gathered and used in this study. We applied a quantitative technique to evaluate relationships of interest, and the simple random sampling procedure was used to select 456 nurses across hospitals in Accra, Ghana. A self-reported questionnaire was used to gather data. Pearson's correlation test and structural equation modelling (SEM) were used to analyse data, with potential confounding variables controlled for. The structural SEM model produced a good fit at 5% significance level [χ2 = 1.543; p = 0.401]. Materialism made a significant positive effect on love of money and intention to quit (p < 0.05), while love of money did not predict the intention of nurses to quit. The study concluded that nurses' avoidance of materialism and love of money can be a way to reduce their intention to quit. Cutting back on the pay of nurses is however not a suitable way to discourage materialism and love of money, but programs can be instituted to motivate nurses to spend money productively and channel surplus income into high yielding provident funds.