Description

This study sought to understand whether change, learning and development affected the levels of employee engagement in a private bank that underwent restructuring. The aim of the study was to establish the immediate feeling of engagement, change, learning and development followed by an organisational restructure (cycle 1). After implementing a learning intervention, the feelings of change, learning and development and employee engagement were reassessed (cycle 2).
Investigating employees’ feelings of dissatisfaction, and methods for improvement, led to the recognition that learning and development, structured to address the gaps left by a lack of change management efforts, was critical in improving low levels of employee engagement.
The research adopted a mixed methods approach, incorporating both quantitative and qualitative analysis. The researcher interviewed selected employees within the private banking business unit, who completed a survey. To measure job engagement, the researcher used the five-point Likert scale and adapted the questionnaire from multiple sources. The research focused on, and strongly supported, the impact of change and learning on employee engagement levels both pre- and post-intervention. The results of the survey indicated that only half of the respondents were engaged and that they strongly emphasised learning and development, and having a core understanding of what was required from them after an organisational change. Opportunities for development were therefore critical to improved engagement. Having both downward and upward communication between leadership and employees also improved engagement levels in the team.
In the researcher’s opinion there is no specific methodology that will fit every organisation or every changing situation. An organisation needs to make a cohesive effort within its change management team to understand the basic principles of change management. It is then the responsibility of the change agents to fully understand each change and adapt a flexible framework that encompasses the key principles to successfully implement the changes.
According to evolutionary theories introduced by Charles Darwin and Jean-Baptiste Lamarck, survival in a permanently modified environment takes place through adaptation. The same is true today in the private banking industry. Whether it is through circumstantial mutation, embodied by young start-ups, or through the transformation of existing institutions, only the ones who are willing to accept change and adapt shall prosper. This fundamental law of nature is more relevant than ever for the financial services industry and particularly for private banking, (Kearney, 2014).
Future research could focus on measuring how engagement affects operational efficiency. In this study, the researcher came across multiple suggestions that overall performance was affected following a change. Although statistically this was not examined, it may be a crucial topic to explore in the future. This will, in turn, give organisations a view and measurement of just how important engagement practices are.