Middle-Aged Employees in Central Europe: What Factors Influence Their Well-Being?

Looking at the life satisfaction and well-being of the economically active population has become a timely topic relevant for policymakers. This study looks at the drivers of well-being among employees in Central European countries. The study is based on extensive data from the annual Survey of Health, Ageing and Retirement in Europe (SHARE). The study methodology relies on the estimation of the multivariate regression analysis, with the CASP index for quality of life and well-being as an outcome variable. Interestingly, even more than thirty years after the separation of the Czech Republic, Hungary, Poland and Slovakia from the socialist central-planning regime, their employees report on average lower satisfaction compared to those working in close Austria. Furthermore, we find that the highest levels of satisfaction are observed among the higher-skilled positions, and among the most significant drivers of well-being, the financial sustainability of the household still remains. The article provides value for the Central European stakeholders and adds recommendations for ongoing life satisfaction research.