This paper seeks to question and discuss the relevance of organizational, customer and professional commitment for effectively managing financial service firms. In…
This paper seeks to question and discuss the relevance of organizational, customer and professional commitment for effectively managing financial service firms. In particular, it aims to study differences between employed and self‐employed finance professionals.
The authors conducted in‐depth interviews with professionals in 30 finance firms in Austria. The interviews aimed to reveal professionals' notions of commitment as it pertains to each interviewee's specific work context, whether self‐employed or employed.
Although the financial services sector requires professionals to routinely display both high customer and professional commitment, it appears that organizational commitment is unrelated to performance. While employed finance professionals experience conflicts between organizational and customer commitment (e.g. selling in‐house products that may not perfectly match customers' needs), self‐employed professionals tend to clash between customers' best interests and their own self‐interest (e.g. selling products and services for which they receive the highest commission). All professionals noted that they work in a competitive environment with a focus on individual sales. Individual performance ratings were found to prevent the development of strong branch or team commitment.
Although qualitative methods are a starting‐point for identifying serious issues, quantitative studies across larger samples are needed to evaluate the scope of the findings.
The findings imply that financial services may not benefit much from HRM efforts that strive to obtain firm‐wide or organizational commitment. In large financial service firms the routine turnover of good professionals can be curbed if management starts to pay attention to creating flexible work arrangements, and enabling professionals to commit to customers and their profession.
While prior research suggests fostering the organizational commitment of employees, this study finds the concept of organization‐wide commitment to be of less importance for managing finance firms. This lack of importance of organizational commitment was found to be independent of finance professionals' contractual status (employed or self‐employed); whereas customer and professional commitment were associated with high performance motivation.
The purpose of this paper is to examine the service behaviours of highly committed consultants engaged in face‐to‐face service provision with customers in the financial‐services industry.
In‐depth interviews are conducted with 41 financial consultants (from 30 financial‐service firms) in Austria. The qualitative data are then rigorously analysed and coded to identify categories of behaviours of highly committed financial consultants.
In total, 15 behaviours of highly committed financial consultants are identified. These behaviours are shown to include both “in‐role” behaviours and “extra‐role” behaviours. The study also finds that service behaviours of highly committed financial consultants change over time. Employed and self‐employed financial consultants are found to have the same high‐commitment behaviours; however, employed consultants tend to experience conflicts between organisational commitment and customer commitment, whereas self‐employed consultants tend to experience conflicts between their own self interests and the interests of their customers.
The study did not examine whether age and experience influence behavioural differences. Nor did the study address the question of behaviours that are typical of low‐commitment service delivery. Future research could objectively record the behaviours (by audio‐recording and/or video‐recording) to reduce the possibility of self‐serving bias by respondents in reporting their behaviours.
The study provides guidance for managers who wish to encourage and reward highly committed service behaviours among employees.
Little research has been conducted into the actual behaviours of financial consultants while delivering services. Moreover, previous studies of organisational commitment have utilised quantitative methodologies to assess attitudes, whereas this study adopts a qualitative approach and examines actual behaviours of high work commitment.
The purpose of this editorial is two‐fold: first, to provide an overview of team‐related issues in the particular realm of contingent work arrangements, and second, to…
The purpose of this editorial is two‐fold: first, to provide an overview of team‐related issues in the particular realm of contingent work arrangements, and second, to introduce the collection of articles encompassing this special issue.
The editorial is a general literature review that provides the readers of this special issue with a broader scholarly literature framework. The editorial also provides a historical context of the field. First, the phenomenon of contingent work arrangements is discussed. Second, attention is given to identification of major strategic factors, which have been contributing to the growth of contingent work arrangements. Third, team‐related issues of differentiation, integration, and cooperation are discussed.
The overview of research in the area of contingent work arrangements demonstrates that such work arrangements are diverse in their contractual structure. The rationale for which organizations use contingent work arrangements are diverse, as are the reasons why employees undertake such work outside the scope of the traditional employment model. Research in this area has grown primarily with the focus on economic, legal, and social factors influencing the expansion of non‐standard work arrangements. Less research is found in the area of individual, managerial, and organizational consequences of this expansion.
This editorial – and the special issue in particular – gives attention to understanding the array of experiences associated with contingent workers with the purpose of accumulating theoretical knowledge in this field, but also – and perhaps more importantly – to add to the transition from evidence‐based knowledge to practical advice.