The Moderating Effect of General Competencies on Career Satisfaction and Job Performance: An Emperical Study on Wealth Management Firms
DOI:
https://doi.org/10.55908/sdgs.v11i6.1196Keywords:
competency, competencies, career satisfaction, job performance, wealth managementAbstract
Objective: The aim of the paper is to present the vital importance of employees' competencies in creating a correlation between job performance and career satisfaction in wealth management companies.
Method: To analyse the correlation between employee performance and career satisfaction, a research framework was employed that incorporates general competencies as an intermediary factor in wealth management firms. A survey was conducted among 90 employees working in wealth management offices in Cochin.
Results: Based on the survey results, it is apparent that possessing general competencies is crucial for improving job performance and achieving career satisfaction within the wealth management sector.
Conclusions: It is evident from the research that wealth managers can benefit greatly from providing a career advancement environment for their employees. This is because it leads to the development of a more skilled workforce, which in turn translates into better job performance and increased efficiency. The central point of the paper is to address the ambiguity and inconsistency that exists regarding the part of general competencies, career satisfaction and job performance in wealth management.
References
Agarwal, Renu, Roy Green, and Richard Hall. "Management education for organizational and managerial innovation." Handbook of Organizational and Managerial Innovation. Edward Elgar Publishing, 2013. 189-216.
Akkermans, Jos, et al. "Competencies for the contemporary career: Development and preliminary validation of the career competencies questionnaire." Journal of Career Development 40.3 (2013): 245-267.
Al Balushi, Isehaq Ahmed Abdullah, Noor Awanis Muslim, and Mohamed Khudari. "The Effect of Human Resources Practices on Sport Organization’s Performance in Oman: The Mediating Role of Leadership Style." International Journal of Professional Business Review 8.7 (2023): e02616-e02616.
Alderfer, C.P. (1967), “Convergent and Discriminant Validation of Satisfaction and Desire Measures by Interviews and Questionnaires”, Journal of Applied Psychology, Vol. 51, No.6, pp. 509–520
Allen, J., Ramaekers, G., Van der Velden, R., (2005). Measuring Competencies of Higher Education Graduates, New Directions Institutional Research, No. 126, Wiley Periodicals, Inc..
Arnolds, C.A. & Boshoff, C. (2000), “Does Higher Remuneration Equal Higher Job Performance? An Empirical Assessment of the NeedProgression Proposition in Selected Need Theories”, South African Journal of Business Management, Vol. 31 No 2, pp.53–64.
Arthur, M.B., Khapova, S.N. and Wilderom, C. (2005), “Career success in a boundary less career world”, Journal of Organizational Behavior, Vol. 26, No. 2, pp. 177-202.
Babin, B.J., Boles J.S.(1998), “Employee behaviour in a service environment: a model and test of potential differences between men and women”, Journal of Marketing, Vol. 62 No 2, pp.77–91.
Babin, B.J., Boles, J.S. (1996), “The effects of perceived co-worker involvement and supervisor support on service provider role stress, performance and job satisfaction”, Journal of Retailing, Vol. 72 No 1, pp.57-75.
Ballout H.I. (2009), Career commitment and career success: moderating role of self-efficacy, Career Development International, Vol. 14 No. 7, pp. 655-670
Boyatzis RE, 1982. The Competent Manager: A model for Effective Performance, John Wiley & Sons, New York.
Burke, R.J., McKeen, C.A., 1995. Work experiences, career development, and career success of managerial and professional women. Journal of Social Behavior and Personality 10 (6), 81–9
Burke, R.J. (2001), “Managerial women’s career experiences, satisfaction and wellbeing: a five-country study”, Cross-Cultural Management, 8(3/4), 117-33.
Çetin, Münevver, Melisa Erdilek Karabay, and Mehmet Naci Efe. "The effects of leadership styles and the communication competency of bank managers on the employee's job satisfaction: the case of Turkish banks." Procedia-Social and Behavioral Sciences 58 (2012): 227-235.
Chang, Yu-Chia, et al. "Job competency and intention to stay among nursing assistants: the mediating effects of intrinsic and extrinsic job satisfaction." International journal of environmental research and public health 18.12 (2021): 6436.
Chong, Eric. "Managerial competencies and career advancement: A comparative study of managers in two countries." Journal of business research 66.3 (2013): 345-353.
El Othman, Radwan, et al. "Personality traits, emotional intelligence and decision-making styles in Lebanese universities medical students." BMC psychology 8 (2020): 1-14.
Farth, J., Dobbin, G., Cheng, B. (1991), “Cultural relativity in action: a comparison of self-ratings made by Chinese and US workers”, Personnel Psychology, Vol. 44, pp.129-147.
Jacob, Nisha Ann. "Competency Mapping of Employees in the Banking Sector." De Paul Journal of Scientific Research 5.1 (2018): 43-52.
Harel GH. & Tzafrir SS., 1999. The effect of Human Resource Management Practices on the Perceptions of Organizational and Market Performance of the Firm, Human Resource Management,38,3,185-99.
Jin, Myung Hun, Bruce McDonald, and Jaehee Park. "Person–organization fit and turnover intention: Exploring the mediating role of employee followership and job satisfaction through conservation of resources theory." Review of Public Personnel Administration 38.2 (2018): 167-192.
Karabayb, Melisa Erdilek, and Mehmet Naci Efec. "The Effects of Leadership Styles and the Communication Competency The Case of Turkish Banks." Procedia-Social and Behavioral Sciences 58 (2012): 227-235.
Lee YK., Park DH. & Yoo D., 1999. The Structural Relationships between Service Orientation, Mediators, and Business Performance in Korea Hotel Firms, Asia Pacific J. Tourism Res. 4,1:59-70.
Maslow, A.H. (1943), “A theory of human motivation”, Psychological Review, Vol. 50 No 4, pp.370-396.
Poon, J. (2004), “Career commitment and career success: moderating role of emotion perception”, Career Development International, 9(4), 374- 90.
Qomariah, Nurul & Marchita, Pietricia & Susbiyani, Arik & Sanosra, Abadi. (2020). How to Increase Job Satisfaction of Bank Employees?. IOSR Journal of Business and Management. 22. 36-42. 10.9790/487X-2207083642.
Rad AM. & Yarmohammadian MH., 2006. A Study of Relationship between Managers’ Leadership Style and Employees’ Job Satisfaction, Leadership in Health Services 19,2, xi-xxviii.
Sanyal, Shouvik, and Mohammed Wamique Hisam. "Impact of training and development on the performance of employees-A comparative study on select banks in sultanate of Oman." International journal of scientific research and management 6.03 (2018): 47-57.
Saxena, Prashant, and Shilpa Bendale. "The management education (MBA) Challenge a study of managerial competency needs & how well MBA's differentiate." Procedia Economics and Finance 11 (2014): 642-653.
Seibert, S.E., Kraimer, M.L. and Liden, R.C. (2001), “A social capital theory of career success”, Academy of Management Journal, 44(2),219- 237
Shet, Sateesh V., S. V. Patil, and Meena R. Chandawarkar. "Competency based superior performance and organizational effectiveness." International Journal of Productivity and Performance Management 68.4 (2019): 753-773.
Shih, Kuang-Hsun, et al. "The indicators of human capital for financial institutions." Expert Systems with Applications 37.2 (2010): 1503-1509.
Smith, David M., and Surendra K. Mansinghka. "Certification programs in finance." Financial Practice and Education 9 (1999): 111-119.
Thompson J., Stuart R., & Lindsay RP, 1997. The Competence of Top Team Members; a Framework for Successful Performance, Team Performance Management, 3, 2, 57-75.
Weinert F.E., 2001. Concept of Competence: A conceptual Clarification. In D. S. Rychen and L., H. Salganik eds.., Defining and Selecting Key Competencies. Seattle, Wash.: Hofgrefe& Huber.
Yousef, D.A. (1998), “Satisfaction with job security as a predictor of organizational commitment and job performance in a multicultural environment”, International Journal of Manpower, 19(3), 184-194
Van Scotter, J.R., Motowidlo, S.J., Cross, T.C. (2000), “Effects of task and contextual performance on systematic rewards”, Journal of Applied Psychology, Vol. 85 No 4, pp.526-535.
Udin, Udin. "Linking transformational leadership to organizational learning culture and employee performance: The mediation-moderation model." International Journal of Professional Business Review 8.3 (2023): e01229-e01229.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. Authors who publish in this journal agree to the following terms: the author(s) authorize(s) the publication of the text in the journal;
2. The author(s) ensure(s) that the contribution is original and unpublished and that it is not in the process of evaluation by another journal;
3. The journal is not responsible for the views, ideas and concepts presented in articles, and these are the sole responsibility of the author(s);
4. The publishers reserve the right to make textual adjustments and adapt texts to meet with publication standards.
5. Authors retain copyright and grant the journal the right to first publication, with the work simultaneously licensed under the Creative Commons Atribuição NãoComercial 4.0 internacional, which allows the work to be shared with recognized authorship and initial publication in this journal.
6. Authors are allowed to assume additional contracts separately, for non-exclusive distribution of the version of the work published in this journal (e.g. publish in institutional repository or as a book chapter), with recognition of authorship and initial publication in this journal.
7. Authors are allowed and are encouraged to publish and distribute their work online (e.g. in institutional repositories or on a personal web page) at any point before or during the editorial process, as this can generate positive effects, as well as increase the impact and citations of the published work (see the effect of Free Access) at http://opcit.eprints.org/oacitation-biblio.html
• 8. Authors are able to use ORCID is a system of identification for authors. An ORCID identifier is unique to an individual and acts as a persistent digital identifier to ensure that authors (particularly those with relatively common names) can be distinguished and their work properly attributed.
