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Employee Welfare Implementation and Organizational Survival in the Banking Industry

Nwala Felix Nwala (Ph.D)

Abstract

This study investigated the relationship between employee welfare implementation and organizational survival in the banking industry, with a focus on the moderating role of political climate. Using purposive and stratified random sampling, a sample size of 341 was drawn from a population of 2309 employees of deposit money banks in Rivers State. The Ordinary Least Square Method (OLSM) interfaced with Partial Correlation of Regression Analysis was employed. The findings revealed that employee welfare dimensions (Insurance programme, Counseling, Liberal holiday) jointly account for 77.3% of the variation in organizational survival (Innovation, Market Share, Adaptability), with an F-statistic of 2846.764 (p=0.000). While all individual dimensions showed a significant positive coefficient, Liberal holiday's positive influence on Adaptability and Market Share initially went against immediate theoretical literature but showed a peculiar behavior in Nigerian deposit money banks. The moderating variable, Risk Culture, was found to significantly moderate the relationship (correlation=0.572, p=0.000). The study concluded that employee welfare implementation is essential for business governance and buttresses survival in the banking system, which should be synchronized with essential benefits. It recommended frequent training on risk-driven strategies and effective management of both the insurance programme and liberal holidays for organizational existence and prosperity.

Keywords

InsuranceCounselingHolidaysInnovationMarket ShareAdaptability

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