THE SOUTH AFRICAN FINANCIAL SERVICES INDUSTRY: HOW TO USE MOTIVATIONAL FACTORS TO ENSURE EMPLOYEE SATISFACTION

2016 ◽  
Author(s):  
Chantal Rootman ◽  
Janine Krüger ◽  
Tony Matchaba-Hove
Keyword(s):  
South African ◽  
Financial Services ◽  
Employee Satisfaction ◽  
Motivational Factors ◽  
Financial Services Industry ◽  
The South ◽  
Services Industry

scholarly journals Mutuality and regulation: The transition from mutual to public in the South African longterm insurance industry

2012 ◽  
Vol 5 (2) ◽  
pp. 567-590 ◽  
Author(s):  
Grietjie Verhoef
Keyword(s):  
South Africa ◽  
South African ◽  
Financial Services ◽  
Structural Changes ◽  
Insurance Companies ◽  
Financial Services Industry ◽  
The South ◽  
Organisational Form ◽  
Services Industry ◽  
Building Societies

The mutual structure of various financial institutions has changed internationally, especially during the late 1980s and early 1990s. Various explanations have been offered. Some commentators argue the mutual organisational form has become redundant, others consider structural changes in the financial services industry as the main reason for organisational changes. In the United Kingdom the stronger emphasis on profitability had a profound impact on the decision to demutualise many building societies. In the USA the failure of mutual savings and loan associations resulted in demutualisation as a rescue strategy. This paper will explore the specific circumstances in South Africa of the changes in the mutual organisational form of building societies and insurance companies. The mutual form of organisation has a long history in South Africa. This paper will explore the reasons for the early choice of mutuality and the recent forces leading to the demutualisation of companies in order to list as public entities on stock exchanges, both in South Africa and abroad. South Africa experienced varying degrees of international isolation and sanctions, but, in the financial services industry, a strong international connection was sustained. The South African experience will be considered against the international changes in the financial services industry as well as the regulatory changes in South Africa. The paper will explain the peculiar South African conditions as the context for the organisational changes in South African mutual.

scholarly journals The dimensionality of professional commitment

2003 ◽  
Vol 29 (2) ◽  
Author(s):  
Jeffrey J. Bagraim
Keyword(s):  
Statistical Analysis ◽  
South African ◽  
Financial Services ◽  
Component Model ◽  
Professional Commitment ◽  
Financial Services Industry ◽  
The South ◽  
Services Industry

This paper examines the dimensionality of professional commitment amongst a sample of 240 South African actuaries. Data were obtained, via a mailed questionnaire, from members of the South African Actuarial Society employed in the financial services industry. Statistical analysis conducted on the data showed that the 3-component model first proposed by Meyer, Allen and Smith (1993) is appropriate for understanding professional commitment amongst South African professionals. The analysis also showed that South African actuaries are highly committed to their profession. Opsomming Hierdie artikel ondersoek die dimensionaliteit van professionele toewyding by ‘n steekproef van 240 Suid-Afrikaanse aktuarisse. Die data is verkry deur ‘n posvraelys aan lede van die Suid-Afrikaanse Aktuariële Vereniging wat in die finansiële dienstesektor werksaam was. Statistiese ontledings wat uitgevoer is op die data dui aan dat die driekomponentmodel, aanvanklik voorgestel deur Meyer, Allen en Smith (1993), geskik is om professionele toewyding by Suid-Afrikaanse beroepslui te verstaan. Die ontleding dui verder aan dat Suid-Afrikaanse aktuarisse hoogs toegewyd is aan hulle professie.

scholarly journals Leadership Competencies: The Contribution Of The Bachelor In Management And Leadership (BML) To The Development Of Leaders At First National Bank, South Africa

2010 ◽  
Vol 9 (10) ◽  
Author(s):  
Sylvie Botha ◽  
Madaleen Claassens
Keyword(s):  
South Africa ◽  
South African ◽  
Financial Services ◽  
Leadership Competencies ◽  
Business Leaders ◽  
Financial Services Industry ◽  
Managerial Leadership ◽  
National Bank ◽  
Services Industry ◽  
Management And Leadership

The importance of effective managerial leadership is vital within the business environment. Business leaders, including those within the financial services industry, are confronted with numerous challenges. In order to deal effectively with those challenges, the unique developmental needs of business leaders need to be addressed continuously. From a South African perspective, business leaders are confronted with unique challenges such as globalisation, cultural diversity, black economic empowerment and transformation. Leaders whose competency levels are adequately developed are able to address these issues and succeed in adding value to their organisations. The question is whether the required leadership competencies can be acquired through tertiary education programmes that are specifically designed for adult learners, and whether this learning contributes to the growth of successful business leaders.  This study focused on the leadership competencies required by leaders within the financial services industry exploring the contribution made by the Bachelor in Management and Leadership degree (offered by the University of the Free State in South Africa) to the development of leaders at First National Bank, a major financial services provider in South Africa.  The results of the study indicated that the BML has indeed addressed the researched managerial leadership competencies utilised by First National Bank and that the programme has contributed significantly to the development and growth of its managerial leaders. However, certain gaps were identified and  in order to ensure the sustainability of acquired knowledge and skills, it is recommended that a coaching and mentorship programme be introduced and implemented  by First National Bank. It was also found that leadership in Africa faces unique challenges and it is foreseen that South African companies will place more emphasis on African leadership competencies in their leadership development programmes.

Distribution of financial services

1993 ◽  
Vol 120 (1) ◽  
pp. 25-65
Author(s):  
A. K. Gupta ◽  
G. Westall
Keyword(s):  
Financial Services ◽  
Distribution System ◽  
Price Sensitivity ◽  
Financial Services Industry ◽  
Future Trends ◽  
Pricing Policy ◽  
Services Industry

AbstractThe historic barriers between the different companies which comprise the financial services industry are breaking down. In order that organisations may prosper in the new environment the relationships between products, distribution and clients need to be understood. A theory is developed to explain the historic position and the dynamics of the current environment and indicate future trends. The conclusion is that successful organisations will be those which fully understand and specialise in a limited number of sectors, and those who start with a clientbase and a distribution system which will not inhibit the introduction of other distribution methods so that they can become multi-product and multi-distribution organisations. Finally, the paper explores the relationships between pricing policy and distribution by means of distribution chains to determine the point and degree of price sensitivity.

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