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The Effect of Employee Involvement in Strategic Change on the Performance of Insurance Companies in Zimbabwe

Author

Listed:
  • Bibi Zaheenah Chummun

    (Graduate School of Business and Leadership, University of KwaZulu-Natal (UKZN), Durban 4000, South Africa)

  • Lizanani Nleya

    (Graduate School of Business and Leadership, University of KwaZulu-Natal (UKZN), Durban 4000, South Africa)

Abstract

Due to rapid technological advancements and intense competition, organizations must find new ways to do business. As a result, changes in an organization’s structures, systems, and strategies are now a pre-requisite to survive the competition. Involving employees in strategic change programmes will harness ideas that enhance competitive advantage and organizational performance. The purpose of this study is to inform industry executives, especially in insurance companies, that employees are crucial resources that must be valued for their contribution to the survival of the organization. A total of 115 respondents were surveyed using a 5-point Likert scale questionnaire in a quantitative research approach. This study employed the multiple regression method to test the effect of five employee involvement constructs on organizational performance using IBM SPSS V28 software. All five constructs, that is, participation in decision-making, teamwork, communication, creativity, and innovation, significantly affected the performance of insurance companies in Zimbabwe. This study’s findings will convince top managerial leaders of the insurance industry to acknowledge and appreciate the importance of involving employees in strategic change programmes. Furthermore, industry regulatory authorities can promote policies and practices that involve employees in decision-making.

Suggested Citation

  • Bibi Zaheenah Chummun & Lizanani Nleya, 2023. "The Effect of Employee Involvement in Strategic Change on the Performance of Insurance Companies in Zimbabwe," JRFM, MDPI, vol. 16(9), pages 1-14, September.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2023:i:9:p:409-:d:1239081
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