Understanding the Relationship Between Psychological Capital, Personality Traits, and Well-Being Among Female Banking Professionals in Sri Lanka
The banking industry in Sri Lanka isa demanding environment, especially for professional women who often juggle multiple responsibilities. Recent research has shed light on the intricate dynamics between Psychological Capital (PsyCap), personality traits, and overall well-being (WB) among female banking professionals. This exploration provides insights that can guide better workplace practices and policies.
Importance of Psychological Capital in Workplace Dynamics
The findings emphasize the critical role of PsyCap, which encompasses hope, resilience, optimism, and self-efficacy. Research indicates that these components are fundamental in helping employees manage stress and maintain a healthy work-life balance. For instance, managers highlighted the incessant pressure faced by banking staff due to demanding workloads, compliance regulations, and fast-paced transactions. As one manager noted, “If we take an example of the officers who are working as cashiers, they are more stressed during peak hours.”
High levels of resilience, in particular, emerged as the most significant factor influencing the ability to navigate workplace challenges. Resilient employees exhibit adaptability and flexibility, allowing them to manage work stress effectively without succumbing to overwhelming pressures. Such capabilities result in better capacity to maintain work-life balance, as demonstrated by positive correlations between PsyCap and employee well-being.
The Role of Personality Traits
Personality traits significantly mold an employee’s approach to both personal and professional obligations. The study illustrated that individual differences, particularly traits such as emotional stability, conscientiousness, and other elements of the Big Five personality model, play vital roles in shaping an individual’s work-life balance.
Managers pointed out that personality can affect how employees cope with stress and take on responsibilities. As one participant explained, “Each of the five personality types has a unique impact on WB, and the ideal balance depends on personal preferences, job requirements, and life circumstances.” Such insights underscore the nuanced ways in which different personality traits contribute to well-being in the banking sector.
Marginal Effects of Psychological Traits
Analysis of self-efficacy revealed some compelling associations: with a 1% increase in self-efficacy, the likelihood of falling into a low well-being category decreased by approximately 0.09%. Furthermore, higher self-efficacy resulted in a 14.51 percentage point decrease in moderate well-being risk, and a substantial increase in the probability of high well-being. This aligns with existing literature, reinforcing the notion that individuals with greater self-efficacy are more adept at managing stress, prioritizing obligations, and seeking solutions to challenges.
Optimism also plays a critical role. A study found that each 1% rise in optimism diminishes the chances of low well-being by 0.06%. This finding underscores the importance of fostering a positive mindset as a part of well-being strategies, especially in high-stress environments like banking.
Emotional Stability and Conscientiousness
Emotional stability, correlated with lower neuroticism, emerged as a key player in improving work-life balance. Those with higher emotional stability experienced greater satisfaction and were better equipped to handle stress. The results indicated that increased emotional stability could enhance overall well-being among banking professionals.
Conscientiousness also demonstrated significant marginal effects; a 1% improvement in conscientiousness decreased the likelihood of low and moderate well-being, while increasing the chances of achieving high well-being by 8.61 percentage points. This emphasizes the importance of task organization, planning, and prioritization in enhancing work-life balance.
Managerial Insights on Coping Strategies
From the managerial perspective, coping strategies were identified as crucial for promoting well-being. Managers advocated for developing employees’ emotional intelligence and resilience. Insights from managers suggested that fostering open communication, empathy, and emotional support can alleviate stress and improve psychological well-being. One manager remarked, “More resilient employees can balance work and life demands successfully.”
Training programs focusing on mindfulness, relaxation techniques, and stress management were also recommended as means to bolster resilience among employees. The emphasis on personalized wellness programs was particularly noteworthy—addressing individual personality traits can lead to more effective coping mechanisms.
Conclusion
The exploration of the relationship between Psychological Capital, personality traits, and well-being in Sri Lankan banking professionals unveils critical insights with practical significance. By understanding how these factors interplay, organizations can tailor strategies to foster a healthier work environment, thereby enhancing employee satisfaction and productivity. This research not only adds to the academic discourse but also provides actionable guidance for those seeking to improve workplace dynamics in the banking sector.
