Predictors of Work Meaningfulness and their Implications for the Banking Sector
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This research explores the higher and lower-order determinants of Work Meaningfulness of employees in the banking industry in Punjab, India, and discusses their implications for banks. With a sample population of 600 banking professionals, the study utilized the Work and Meaning Inventory, Survey of Perceived Organizational Support (SPOS), Psychological Capital Questionnaire (PCQ), and Workplace Stressors Assessment Questionnaire to quantify the major variables. Psychological capital, Organizational support perceived, and Perceived work stress were treated as independent variables, while Work Meaningfulness was the dependent variable. Discriminant analysis indicated that Psychological Capital, Specifically Self-efficacy, Hope, Resilience, and Optimism, along with Perceived Organizational Support are stronger predictors of work meaningfulness than work stress dimensions such as Demands, Control, Support, Role, Relationships, and Rewards which are the lower predictors. These results point out that the development of psychological resources and organizational support system not only enhances work meaningfulness and employee well-being but also strengthens ethical judgment, reporting accuracy, and adherence to governance standards. On the other hand, unmanaged stressors and undefined roles enhance reporting errors, increase the risk of biased financial choices and decrease work meaningfulness. Enhancing self-efficacy, hopefulness, optimism and resilience training, role clarification, and fair rewards Fosters work meaningfulness which is necessity to ensure financial stability, transparency, and accountability in the banking industry.
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