Organisational and personal drivers of innovative work behavior of employees in the marketing division of financial institutions in Ibadan, Nigeria: a mixed method approach.

Abstract

The financial sector plays a pivotal role in Nigeria's economy, with organisations facing increasing pressure to enhance performance amidst rising stakeholder expectations and intense competition. In this dynamic environment, customers' access to diverse information sources and suppliers has heightened their expectations for superior product quality and service, necessitating innovation as a crucial driver of organisational success. This study investigates the personal and organisational determinants of innovative work behaviour within the marketing divisions of financial institutions in Ibadan, Nigeria. Employing a sequential exploratory mixed methods design, the study commenced with qualitative interviews involving 12 marketers and 6 marketing managers, followed by a quantitative phase involving the distribution of 330 structured questionnaires, of which 300 were usable for analysis. Thematical and multivariate analyses were carried out. Findings from both qualitative and quantitative analyses reveal several precursors for innovative work behaviour, including transformational leadership, enabling organizational culture and climate, adequate resources, and personal characteristics such as passion, creativity, commitment, engagement, self-motivation, and confidence. Statistical analyses indicate that employees' level of education and the specific banks they work for significantly influence their innovative work behaviour. Furthermore, positive relationships were observed between innovative work behaviour and both personal (psychological capital and employee engagement) and organisational factors (organisational climate and culture). Psychological capital directly influenced innovative work behaviour, while employee engagement exhibited both direct and mediating effects on the relationship between organisational culture/climate and innovative work behaviour. Aligned to the findings, it is recommended that financial institutions foster conducive organisational cultures that promote employee engagement, thereby enhancing innovative work behaviour. At the personal level, strategies to develop marketers' psychological capital and coping mechanisms for stressful work environments are advised to improve their wellbeing and organisational engagement. Additionally, organisational management should prioritize skill training, provide supportive leadership, and implement effective reward systems to support employees in achieving innovative work behaviour. In conclusion, this study underscores the importance of both personal and organisational factors in driving innovative work behaviour within the marketing divisions of financial institutions in Ibadan, Nigeria, offering practical insights for organisational strategies and interventions aimed at fostering innovation and competitiveness in the sector.