Masters Degrees (School for Organisation and Resource Management)

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Browsing Masters Degrees (School for Organisation and Resource Management) by Subject "Corporate culture -- Time management"

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    Variables affecting employees of insurance companies in achieving learning outcomes competency brought by regulatory changes
    (Stellenbosch : Stellenbosch University, 2021-12) Malatji, Matsobane Jay; Khoza, Lindiwe Mhakamuni; Stellenbosch University. Faculty of Military Sciences. School for Organisation and Resource Management.
    ENGLISH ABSTRACT: The FAIS Act 37 of 2002 stipulates the Fit and Proper requirements for employees engaged in intermediary services and advice in the South African Financial Services Sector. They must achieve competency in regulatory learning in order for them to be declared Fit and Proper. Competency is defined from a theoretical perspective to demonstrate a positive outcome when assessed for skills, knowledge and expertise needed for execution of tasks in relation to a financial product a person is authorised to deal in. This research project is a case study. Empirical literature provided a conceptual framework through which the study determined the statistical significance of self-directed learning, organisational culture, change management, time management, emotions, motivation and technology in achieving academic success, which is equated to competency for this study. Purposive sampling was utilised to select two insurance companies in South Africa. Two hundred and eighty-five employees in roles entailing advice and intermediary services were targeted as participants. Quantitative data (close-ended questions) and Qualitative data (open-ended questions) were collected through a questionnaire completed online by participants. Document analysis was conducted through the latest competency register from Company A and FSCA competency report. Company B is exempted as per FAIS Notice 78 of 2019. Qualitative data was also collected using four semi-structured focus groups comprising a minimum of six participants per session. Mixed method was used. Quantitative data was statistically analysed. Linear regression was applied to determine the significance of self-directed learning, organisational culture, change management, time management, emotional intelligence, motivation and technology in achieving competency in regulatory learning. Qualitative data was thematically analysed. The Ascent to Competency model was adopted for this study. It demonstrates that needs of students must be met hierarchically before a learner can ascent to competency. Data revealed that Motivation, Emotions and Organizational Culture are at 5% level of significance with averages of 0.1871, 0.2329 and 0.5879 respectively. Change Management and Time Management are statistically significant at 10% level of significance. On the Ascent to Competency model, Change Management is placed at the first layer of the hierarchy under safety and security, followed by Organisational Culture under belongingness. Time Management, Emotions and Motivation fall within the third hierarchy, called Self-concept. Self-Directed Learning and Technology at 0.0237 and 0.0644 respectively are not statistically significant in explaining the model. Qualitative data revealed that all variables identified in this study have an impact on employees when they engage in regulatory learning to achieve competency. Other variables such as Experience, Family Support, Remuneration Model, and Quality of Training also affect employees. The role of the employer was emphasised strongest by respondents as factor affecting the achievement of competency in regulatory learning requirements. Data showed that employees are not accustomed with potential assistance they could get from the FSCA and InSETA. Employees unable to attain competency face the consequences of either debarment, which leads to job loss, or demotion to jobs outside of the advice and intermediary service sector. It is thus necessary for employees of insurance companies to understand both the barriers to, and enablers of achievement of competency, bearing in mind the implications for not fulfilling Fit and Proper requirements.