Main Article Content
Abstract
This quantitative study aimed to identify the optimal model of work engagement, focusing on psychological empowerment, self-efficacy, and job satisfaction among 400 financial managers in Davao Region, Philippines, and Daugavpils, Latvia. Employing a descriptive correlational design, data were gathered via purposive sampling and analyzed using mean analysis, t-tests, correlation analysis, regression, and structural equation modelling.
Results highlighted significant levels of psychological empowerment, self-efficacy, job satisfaction, and work engagement, with psychological empowerment showing geographic variation. The study revealed strong correlations among these variables, underscoring their impact on work engagement outcomes. Amongst the five models tested, Model 5 emerged as the best fit, incorporating indicators such as psychological empowerment (meaning, competence, impact), self-efficacy (general and social), job satisfaction (remuneration, work achievement), and work engagement (physical, emotional). This model is recommended for understanding and promoting work engagement among financial managers, providing valuable insights for organizational practices to enhance employee motivation and performance.
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
Anwar, K. & Qadir, J.H (2017), A Study of the Relationship between Work Engagement and Job Satisfaction in Private Companies in Kurdistan, International Journal of Ad-vanced Engineering, Management and Science (ISSN: 2454-1311).3(12), pp:1102-1110
Bailey, C., Madden, A., Alfes, K., and Fletcher, L., 2019. The meaning, antecedents, and outcomes of employee engagement: A narrative synthesis. International Journal of Management Reviews, 21(1), pp.31-53.
Baker, S.R., Bloom, N. and Davis, S.J. (2020). The Extraordinary Uncertainty of the COVID-19 Shock. Brookings Papers on Economic Activity, 2020(2), pp.287-348.
Bakker, A. B., & Leiter, M. P. (2023). Well-being and work. Annual Review of Organ-izational Psychology and Organizational Behavior, 10(1), 425-454.
Bakker, A. B., Tims, M., & Derks, D. (2012). Proactive personality and job perfor-mance: The role of job crafting and work engagement. Human Relations, 65(10), 1359–1378. https://doi.org/10.1177/0018726712453471
Bakker, A.B. and Albrecht, S.L., (2018). Work engagement: Current trends. Career De-velopment International, 23(1), pp.4-11.
Bandura, A. (2001). Social cognitive theory: An agentic perspective. Annual Review of Psychology, 52, 1–26. https://doi.org/10.1146/annurev.psych.52.1.1
Baptista, J., Formigoni, A., Silva, S., Stettiner, C., & Novais, R. (2021). Analysis of the Theo-ry of Acquired Needs from McClelland as a Means of Work Satisfaction. Timor Leste Journal of Business and Manage-ment. 3. 54-59. https://doi.org/10.51703/bm.v3i2.48.
Blau, P. (1964). Justice in Social Exchange. So-ciological Inquiry. 34. 193 - 206. https://doi.org/10.1111/j.1475-682X.1964.tb00583.x.
Cabana-Mamani, A., Ccalachua, S., Morales-García, W., Paredes-Saavedra, M., Mo-rales-García, M. (2024). Self-Efficacy and Emotional Intelligence as Predictors of Work Engagement in Peruvian Health Personnel. Salud, Ciencia y Tecnología. 4. 888. https://doi.org/10.56294/saludcyt2024888.
Chambel, M.J. and Farina, A. (2015), “HRM and temporary workers’ well-being: a study in Portugal and Brazil”, Cross Cultural Management, Vol. 22 No. 3, pp. 447-463.
Chan, E. S. S., Ho, S. K., Ip, F. F. L., & Wong, M. W. Y. (2020). Self-Efficacy, Work En-gagement, and Job Satisfaction Among Teaching Assistants in Hong Kong’s Inclu-sive Education. Sage Open, 10(3). https://doi.org/10.1177/2158244020941008
Conroy, R. (2018). The RCSI Sample size hand-book. 10.13140/RG.2.2.30497.51043.
D. Wat, M.A. Shaffer, (2015) Equity and rela-tion quality influences on organizational citizenship behaviors: the mediating role of trust in the supervisor and empower-ment, Personnel Review, 34(4), 406-422.
Deci, E. L., & Ryan, R. M. (1985). Intrinsic mo-tivation and self-determination in human behavior. Springer.
Deci, E. L., & Ryan, R. M. (2000). The "what" and "why" of goal pursuits: Human needs and the self-determination of behavior. Psychological Inquiry, 11(4), 227-268.
Goodwin, J., Williams, A., & Snell Herzog, P. (2020). Cross-Cultural Values: A Meta-Analysis of Major Quantitative Studies in the Last Decade (2010–2020). Religions. 11. 396. https://doi.org/10.3390/rel11080396.
Gorton, G. & Metrick, A. (2019). Regulating the Shadow Banking System. Review of Fi-nancial Studies, 32(4), pp.1494-1536.
Hair, J.F, Babin, B.J, & Krey, N. (2017). Co-variance based structural equation mod-elling in the journal of advertising: Re-view and recommendations. Journal of Advertising, 46(1), 163-177. https://doi.org/10.1080/00913367.2017.1281777
Harris, M.M, & Schaubroeck, J. (1990). Con-formatory modeling in organizational behavior/human resources management: Issues and applications. Journal of Man-agement, 16(2),337-360.
Hofstede, G. (2019). Culture and Its Conse-quences: Comparing Values, Leaders, and Institutions. Red Globe Press.
Johnson, R.E., Lin, S.H., Kark, R., van Dijk, D. & Qian, X., (2020). The impact of financial incentives on employee motivation, en-gagement, and performance in financial services. Journal of Financial Services Re-search, 57(3), pp.381-403.
Kim-Soon, N. & Manikayasagam, G. (2015). Employee Engagement And Job Satisfac-tion. https://doi.org/10.13140/RG.2.1.5050.6966.
Lee, S.Y. & Chen, Y. (2019). The impact of em-powerment on employees in a regulated industry: A study of financial services. Journal of Organizational Behavior, 40(3), pp.353-366.
Lightfoot SL. On the goodness of schools: themes of empowerment. Peabody J Educ. 1986;63(3):9–28. doi: https://doi.org/10.1080/01619568609538522
Liu, J. (2016) The study of total quality man-agement and job satisfaction in land au-thority from North Taiwan. International Journal of Organizational Innovation, 8(4).
Liu, J.T (2016). The study of Total Quality Management and Job Satisfaction in Land Authority from North Taiwan. Interna-tional Journal of Organizational Innova-tion, 8(4), 43- 63.
Mejia, Grethel & Romantico, Abby Gayle & Da-jac, Shari & Dotig, Maureen & Sanmocte, Joshua & Castillo, Alethea. (2021). The Relationship Between Self-Efficacy and Work Engagement Among Teachers. 8. 29-33.
Mercali, G.D. And Costa, S.G. (2019). Anteced-ents Of Work Engagement Of Higher Edu-cation Professors In Brazil. RAM. Revista de Administração Mackenzie, 20(1). doi: https://doi.org/10.1590/1678-6971/eramg190081.
Murphy, S. A. (2019). The effects of work en-gagement on ethical decision-making: A meta-analysis. Journal of Business Ethics, 158(3), 697-713.
Narciso, R. & Guhao, E (2020). Structural Equation Model On Job Satisfaction Among Business Process Outsourcing Employees In Region Xi. The Internation-al Journal of Business Management and Technology, [online] 4. Available at: https://theijbmt.com/archive/0932/121537545.pdf [Accessed 29 Mar. 2024].
Nassani, A., & Alhammad, B. & Alqahtani, R. F. (2021). The relationship between job characteristics and job satisfaction: The mediating role of work engagement in the private sector organizations in Ri-yadh. Journal of Advances in Social Sci-ence and Humanities, 7(04), 1762−1770. http://dx.doi.org/10.15520/jassh.v7i4.607
Ng, T. W. H., & Burke, R. J. (2023). Employee turnover, retention, and engagement in a globalizing world. Annual Review of Or-ganizational Psychology and Organiza-tional Behavior, 10(1), 175-202.
Nickerson, C. (2023). Hofstede’s Cultural Di-mensions Theory & Examples. [online] Simply Psychology. Available at: https://www.simplypsychology.org/hofstedes-cultural-dimensions-theory.html.
Niemiec, C. M., & Ryan, R. M. (2020). Autono-my, competence, and relatedness in the workplace: A review of self-determination theory. Journal of Voca-tional Behavior, 117, 103456.
Omar, D. & Moinuddin A., & Al-Tobasi A (2016). The impact of the psychological capital on job performance: a case study on faculty members at Philadelphia Uni-versity. Int Rev Manag M. 2016;6(2):183–191.
Patel, P.C. and Conklin, B., 2021. Work out-comes and satisfaction of financial man-agers: The role of job clarity and impact. Journal of Management Studies, 58(4), pp.1023-1045.
Rai, A. & Maheswari, S. (2021). Exploring the mediating role of work engagement be-tween the linkages of job characteristics with organizational engagement and job satisfaction. Management Research Re-view, 44(1), 133-157. doi: https://doi.org/10.1108/MRR-10-2019-0442.
Rajgopal, S., (2020). The Role of Financial Re-porting and Transparency in Enhancing Work-Life Balance. Journal of Financial Reporting, 5(2), pp.45-62.
Šakytė-Statnickė, G., Bilan, S. and Asta Sa-vanevičienė (2023). The impact of work engagement of different generations on organisational engagement. Journal of In-ternational Studies, 16(4), pp.136–152. doi: https://doi.org/10.14254/2071-8330.2023/16-4/9.
Schermuly C. C. (2019). New work—gute arbe-it gestalten: Psychologisches empower-ment von mitarbeitern [New work—designing good work: Psychological em-powernment of employees]. Haufe.
Schermuly, C. C., Creon, L., Gerlach, P., Graßmann, C., & Koch, J. (2022). Leader-ship Styles and Psychological Empower-ment: A Meta-Analysis. Journal of Lead-ership & Organizational Studies, 29(1), 73-95. https://doi.org/10.1177/15480518211067751
Scott ES, Gang W, Stephen HC (2011). Ante-cedents and consequences of psychologi-cal and team empowerment in organiza-tions: a meta-analytic review. J Appl Psy-chol. ;96(5):981–1003. doi: https://doi.org/10.1037/a0022676
Smith, J. A., & Patel, R. B. (2019). The impact of technological innovation on the account-ing profession. Accounting Horizons, 33(4), 25-40. doi: https://doi.org/10.2308/acch-52214.
Spreitzer G. M. (2008). Taking stock: A review of more than twenty years of research on empowerment at work. In Barling J., Cooper C. L. (Eds.), Handbook of organi-zational behavior (pp. 54-72). Sage.
Spreitzer, G. M. (1995). Psychological empow-erment in the workplace: Dimensions, measurement, and validation. Academy of Management Journal, 38 (5), 1442-1465.
Spreitzer, G. M. (1996). Social structural char-acteristics of psychological empower-ment. Academy of Management Journal, 39(2), 483-504.
Steel, Piers & Schmidt, Joseph & Bosco, Frank & Uggerslev, Krista. (2018). The effects of personality on job satisfaction and life satisfaction: A meta-analytic investigation accounting for bandwidth–fidelity and commensurability. Human Relations. 72. 001872671877146. 10.1177/0018726718771465.
Sun, Li & Bunchapattanasakda, Chanchai. (2019). Employee Engagement: A Litera-ture Review. International Journal of Human Resource Studies. 9. 63. 10.5296/ijhrs.v9i1.14167.
Usher, E. L., & Pajares, F. (2008). Sources of self-efficacy in school: Critical review of the literature and future directions. Re-view of Educational Research, 78(4), 751-796. doi: https://doi.org/10.3102/0034654308321456
Wang, Q., & Xie, J. (2020). The effects of team self-efficacy and knowledge sharing on employee creativity: A moderated media-tion model. Journal of Business Research, 112, 942-951.
Wright, T. A., & Cropanzano, R. (2019). The positive psychology of work. Annual Re-view of Organizational Psychology and Organizational Behavior, 6(1), 121-143.
Yakın, M. and Erdil, O. (2012). Relationships Between Self-Efficacy and Work En-gagement and the Effects on Job Satisfac-tion: A Survey on Certified Public Ac-countants. Procedia - Social and Behav-ioral Sciences, [online] 58, pp.370–378. doi: https://doi.org/10.1016/j.sbspro.2012.09.1013.
Yuan, K., Wu, R., & Bentler, P. M. (2011). Ridge structural equation modeling with corre-lation matrices for ordinal and continu-ous data. British Journal of Mathematical and Statistical Psychology, 64, 107–133.
Zarrin, L., Mansour Ghafourifard and Zahra Sheikhalipour (2023). Relationship be-tween Nurses Reflection, Self-efficacy and Work Engagement: A Multicenter Study. Journal of Caring Sciences, 12(3), pp.155–162. doi: https://doi.org/10.34172/jcs.2023.31920.
Zhang, X. and Bartol, K.M., 2020. Empowering leadership and employee creativity: The roles of psychological empowerment and promotion focus. Journal of Applied Psy-chology, 105(2), pp.157-169.
Zimmerman, M.A (1995) Psychological em-powerment: issues and illustrations, American Journal of Community Psychol-ogy, 23(5),581-599.