From a wealth management career to employee career success satisfaction: exploring the mediating role of job competency

From a wealth management career to employee career success satisfaction: exploring the mediating role of job competency Dani Alexander Benil https://orcid.org/0009-0008-5065-0729 S. Vasantha https://orcid.org/0000-0003-2087-1340 M. Thaiyalnayaki https://orcid.org/0000-0002-4788-4072

In this current study, our main goal is to explore the connections between wealth career management, job competency, and satisfaction with career success. Moreover, it seeks to explore the intermediary mechanisms through which wealth career management affects employees' level of contentment with their professional trajectories. Employing the analytical tool of structural equation modelling (SEM), the study has yielded noteworthy insights. SEM analysis findings underscore the pivotal role of job competency as a mediator. In essence, job competency serves as an explanatory link, shedding light on how different facets of wealth career management - namely, career development, superior work performance, intention to stay and performance management- influence an individual's career success satisfaction. This suggests that the way in which employees perceive their own competence within their careers significantly influences how the different aspects of wealth career management affect their satisfaction with career success
01 01 2024 903 https://creativecommons.org/licenses/by/4.0 10.56294/sctconf2024903 https://conferencias.ageditor.ar/index.php/sctconf/article/view/867 https://conferencias.ageditor.ar/index.php/sctconf/article/download/867/119 https://conferencias.ageditor.ar/index.php/sctconf/article/download/867/119 https://conferencias.ageditor.ar/index.php/sctconf/article/download/867/120 10.1108/02621710110410842 Abraham SE, Karns LA, Shaw K, Mena MA. Managerial competencies and the managerial performance appraisal process. Journal of management development. 2001 Dec 1; 20(10): 842-852 10.1037/0021-9010.89.1.127 Allen TD, Eby LT, Poteet ML, Lentz E, Lima L. Career benefits associated with mentoring for protégés: A meta-analysis. Journal of applied psychology. 2004 Feb; 89(1): 127–135 10.1037//0033-2909.103.3.411 Anderson JC, Gerbing DW. Structural equation modeling in practice: A review and recommended two-step approach. Psychological bulletin. 1988 May; 103(3): 411-423 10.1080/0742-969X.1999.11882917 Archer KC, Boyle DP. Toward a measure of caregiver satisfaction with hospice social services. The Hospice Journal. 1999 Jun 1; 14(2): 1-5 10.1348/096317908X288838 Armstrong‐Stassen M, Ursel ND. Perceived organizational support, career satisfaction, and the retention of older workers. Journal of occupational and organizational psychology. 2009 Mar; 82(1): 201-220 10.1002/job.4030150402 Arthur MB. The boundaryless career: A new perspective for organizational inquiry. Journal of organizational behavior. 1994 Jul 1: 295-306 10.5465/ame.1995.9512032185 Arthur MB, Claman PH, DeFillippi RJ. Intelligent enterprise, intelligent careers. Academy of Management Perspectives. 1995 Nov 1; 9(4): 7-20. https://doi.org/10.5465/ame.1995.9512032185 10.1002/job.290 Arthur MB, Khapova SN, Wilderom CP. Career success in a boundaryless career world. Journal of Organizational Behavior: The International Journal of Industrial, Occupational and Organizational Psychology and Behavior. 2005 Mar; 26(2): 177-202 10.28978/nesciences.1223571 ACAR BÇ, Yüksekdağ Z. Beta-Glycosidase Activities of Lactobacillus spp. and Bifidobacterium spp. and The Effect of Different Physiological Conditions on Enzyme Activity. Natural and Engineering Sciences. 2023 Apr 1; 8(1): 1-7 10.1375/jhtm.13.2.113 Ayres H. Career development in tourism and leisure: An exploratory study of the influence of mobility and mentoring. Journal of Hospitality and Tourism Management. 2006 Aug; 13(2): 113-123 10.1016/j.ijpe.2009.07.010 Azizi N, Zolfaghari S, Liang M. Modeling job rotation in manufacturing systems: The study of employee's boredom and skill variations. International journal of production economics. 2010 Jan 1; 123(1): 69-85 10.1177/109442819800100104 Bagozzi RP, Edwards JR. A general approach for representing constructs in organizational research. Organizational research methods. 1998 Jan; 1(1): 45-87 10.1017/CBO9780511625459.005 Barley SR. Careers, identities, and institutions: The legacy of the Chicago School of Sociology. Handbook of career theory. 1989 Aug 25; 41: 41-65 10.1037//0022-3514.51.6.1173 Baron RM, Kenny DA. The moderator–mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of personality and social psychology. 1986 Dec; 51(6): 1173-1182 10.1080/09585199200000161 Baruch Y, Rosenstein E. Human resource management in Israeli firms: Planning and managing careers in high technology organizations. International Journal of Human Resource Management. 1992 Dec 1; 3(3): 477-495 10.1108/13620439610111426 Baruch Y. Organizational career planning and management techniques and activities in use in high‐tech organizations. Career Development International. 1996 Feb 1; 1(1): 40-49 10.1108/00483480310460234 Baruch Y. Career systems in transition: A normative model for organizational career practices. Personnel review. 2003 Apr 1; 32(2): 231-251 10.1016/j.hrmr.2006.03.002 Baruch Y. Career development in organizations and beyond: Balancing traditional and contemporary viewpoints. Human resource management review. 2006 Jun 1; 16(2): 125-138 10.1002/1099-050X(200024)39:4<347::AID-HRM6>3.0.CO;2-C Baruch Y, Peiperl M. Career management practices: An empirical survey and implications. Human resource management. 2000 Dec; 39(4): 347-366 10.1002/job.4030140202 Bateman TS, Crant JM. The proactive component of organizational behavior: A measure and correlates. Journal of organizational behavior. 1993 Mar; 14(2): 103-118 10.1002/(SICI)1099-050X(199623)35:3<383::AID-HRM6>3.0.CO;2-T Blancero D, Boroski J, Dyer L. Key competencies for a transformed human resource organization: Results of a field study. Human resource management. 1996 Sep; 35(3): 383-403 10.2307/41164749 Bowen DD, Hall DT. Career planning for employee development: A primer for managers. California Management Review. 1977 Dec; 20(2): 23-35 10.1108/13527600110797254 Burke RJ. Managerial women’s career experiences, satisfaction and well‐being: a five country study. Cross Cultural Management: An International Journal. 2001 Dec 1; 8(3/4): 117-133 Burke RJ, McKeen CA. Work experiences, career development, and career success of managerial and professional women. Journal of Social Behavior and Personality. 1995; 10(4): 81–96 Campbell RJ, Moses JL. Careers from an organizational perspective. Career development in organizations. 1986: 274-309 10.5465/256797 Campion MA, Cheraskin L, Stevens MJ. Career-related antecedents and outcomes of job rotation. Academy of management journal. 1994 Dec 1; 37(6): 1518-1542 10.1111/j.1744-6570.1992.tb00863.x Chao GT, Walz P, Gardner PD. Formal and informal mentorships: A comparison on mentoring functions and contrast with nonmentored counterparts. Personnel psychology. 1992 Sep; 45(3): 619-636 10.1016/j.jbusres.2011.08.015 Chong E. Managerial competencies and career advancement: A comparative study of managers in two countries. Journal of business research. 2013 Mar 1; 66(3): 345-353 10.1177/1523422305286156 Chen HC, Naquin SS. An integrative model of competency development, training design, assessment center, and multi-rater assessment. Advances in Developing Human Resources. 2006 May; 8(2): 265-282 10.1002/job.4030150403 DeFillippi RJ, Arthur MB. The boundaryless career: A competency‐based perspective. Journal of organizational behavior. 1994 Jul; 15(4): 307-324 10.1037/apl0000085 DeNisi AS, Murphy KR. Performance appraisal and performance management: 100 years of progress?. Journal of applied psychology. 2017 Mar; 102(3): 421-433 10.1002/job.214 Eby LT, Butts M, Lockwood A. Predictors of success in the era of the boundaryless career. Journal of Organizational Behavior: The International Journal of Industrial, Occupational and Organizational Psychology and Behavior. 2003 Sep; 24(6): 689-708 10.1111/j.1365-2648.2004.03094.x Ellenbecker CH. A theoretical model of job retention for home health care nurses. Journal of advanced nursing. 2004 Aug; 47(3): 303-310 Evangelidis, K. Performance measured is performance gained, The Treasurer, 1992: 45-47 10.1037/1082-989X.10.4.444 Field AP. Is the meta-analysis of correlation coefficients accurate when population correlations vary?. Psychological methods. 2005 Dec; 10(4): 444-467 10.1177/002224378101800313 Fornell C, Larcker DF. Structural equation models with unobservable variables and measurement error: Algebra and statistics. Journal of Marketing Research. 1981; 18(3): 382-388 Gakovic A, Yardley K. Global talent management at HSBC. Organization Development Journal. 2007 Jul 1; 25(2): P201-P205 10.1177/001872679705000404 George JM, Jones GR. Experiencing work: Values, attitudes, and moods. Human relations. 1997 Apr; 50(4): 393-416 10.51983/ijiss-2023.13.1.3378 Agina-Obu R, Oyinkepreye Evelyn SG. Evaluation of Users’ Satisfaction of Information Resources in University Libraries in Nigeria: A Case Study. Indian Journal of Information Sources and Services, 2023; 13(1): 1–5 10.5465/256352 Greenhaus JH, Parasuraman S, Wormley WM. Effects of race on organizational experiences, job performance evaluations, and career outcomes. Academy of management Journal. 1990 Mar 1; 33(1): 64-86 10.1108/eb017390 Gutteridge TG, Leibowitz ZB, Shore JE. When careers flower, organizations flourish. Training & Development. 1993 Nov 1; 47(11): 24-30 Hair JF. Multivariate data analysis. 2009 Hall DT. The Career Is Dead--Long Live the Career. A Relational Approach to Careers. The Jossey-Bass Business & Management Series. Jossey-Bass Inc., Publishers, 350 Sansome Street, San Francisco, CA 94104. 1996 10.7251/afts.2022.1426.079S Sotnikova O. Zhidko E, Prokshits E, Zolotukhina I. Administration of Sustainable Development of Territories as One of the Approaches for Creating A Biosphere-Compatible and Comfortable Urban Environment. Arhiv za tehničke nauke, 2022; 1(26): 79–90 10.5465/amr.2001.4378023 Higgins MC, Kram KE. Reconceptualizing mentoring at work: A developmental network perspective. Academy of management review. 2001 Apr 1; 26(2): 264-288 Houssein AA, Singh JS, Arumugam T. Retention of employees through career development, employee engagement and work-life balance: An empirical study among employees in the financial sector in Djibouti, East Africa. Global Business and Management Research. 2020 Jul 1; 12(3): 17-32 Liebowitz J, Agresti W, Djavanshir GR. Communicating as IT professionals. Prentice-Hall, Inc.; 2005 Aug 1 Aziz B, Hamilton G. Enforcing reputation constraints on business process workflows. Journal of Wireless Mobile Networks, Ubiquitous Computing, and Dependable Applications. 2014 Mar; 5(1): 101-121 10.1177/014920639402000103 Judge TA, Bretz Jr RD. Political influence behavior and career success. Journal of management. 1994 Mar 1; 20(1): 43-65 10.1111/j.1744-6570.1999.tb00174.x Judge TA, Higgins CA, Thoresen CJ, Barrick MR. The big five personality traits, general mental ability, and career success across the life span. Personnel psychology. 1999 Sep; 52(3): 621-652 10.1080/01446190010003425 Kagioglou M, Cooper R, Aouad G. Performance management in construction: a conceptual framework. Construction management and economics. 2001 Jan 1; 19(1): 85-95 10.1108/09596111011042695 Kong H, Cheung C, Qiu Zhang H. Career management systems: what are China's state‐owned hotels practising?. International Journal of Contemporary Hospitality Management. 2010 Jun 1; 22(4): 467-482 10.1111/j.1744-6570.1998.tb00746.x Kossek EE, Roberts K, Fisher S, Demarr B. Career self‐management: A quasi‐experimental assessment of the effects of a training intervention. Personnel psychology. 1998 Dec; 51(4): 935-960 10.1108/03090591211192647 Kucherov D, Zavyalova E. HRD practices and talent management in the companies with the employer brand. European Journal of training and Development. 2012 Jan 27; 36(1): 86-104 10.1177/0193841X9301700202 MacKinnon DP, Dwyer JH. Estimating mediated effects in prevention studies. Evaluation review. 1993 Apr; 17(2): 144-158 10.1207/s15327906mbr3001_3 MacKinnon DP, Warsi G, Dwyer JH. A simulation study of mediated effect measures. Multivariate behavioral research. 1995 Jan 1; 30(1): 41-62 10.1037//0021-9010.67.6.737 McClelland DC, Boyatzis RE. Leadership motive pattern and long-term success in management. Journal of Applied psychology. 1982 Dec; 67(6): 737-743 10.1111/j.1547-5069.1987.tb00581.x McCloskey JC, McCain BE. Satisfaction, commitment and professionalism of newly employed nurses. Image: The Journal of Nursing Scholarship. 1987 Mar; 19(1): 20-24 10.1007/978-1-4614-9460-7_3 McMahon M, Watson M, Patton W. Context-resonant systems perspectives in career theory. Handbook of career development: International perspectives. 2014: 29-41 Mirabile RJ. Everything you wanted to know about competency modeling. Training & development. 1997 Aug 1; 51(8): 73-78 10.1177/089484530102700401 Murphy SE, Ensher EA. The role of mentoring support and self-management strategies on reported career outcomes. Journal of Career development. 2001 Jun; 27: 229-246 10.1108/13620439910270599 Nabi GR. An investigation into the differential profile of predictors of objective and subjective career success. Career development international. 1999 Jul 1; 4(4): 212-225 10.1057/fsm.2014.9 Näppä A, Farshid M, Foster T. Employer branding: Attracting and retaining talent in financial services. Journal of Financial Services Marketing. 2014 Jun 1; 19: 132-145 10.1111/j.1744-6570.2005.00515.x Ng TW, Eby LT, Sorensen KL, Feldman DC. Predictors of objective and subjective career success: A meta‐analysis. Personnel psychology. 2005 Jun; 58(2): 367-408 10.1016/S1441-3523(06)70018-3 O’Brien D, Gardiner S. Creating sustainable mega event impacts: Networking and relationship development through pre-event training. Sport Management Review. 2006 May 1; 9(1): 25-47 10.1108/01437729410053617 Orpen C. The effects of organizational and individual career management on career success. International journal of manpower. 1994 Feb 1; 15(1): 27-37 10.2307/255574 Price JL, Mueller CW. A causal model of turnover for nurses. Academy of management journal. 1981 Sep 1; 24(3): 543-565 10.5465/256760 Schneer JA, Reitman F. Effects of alternate family structures on managerial career paths. Academy of Management Journal. 1993 Aug 1; 36(4): 830-843 10.1037//0021-9010.84.3.416 Seibert SE, Crant JM, Kraimer ML. Proactive personality and career success. Journal of applied psychology. 1999 Jun; 84(3): 416-427 10.1097/00005110-200104000-00010 Shader K, Broome ME, Broome CD, West ME, Nash M. Factors influencing satisfaction and anticipated turnover for nurses in an academic medical center. JONA: The Journal of Nursing Administration. 2001 Apr 1; 31(4): 210-216 10.1108/IJPPM-03-2018-0128 Shet SV, Patil SV, Chandawarkar MR. Competency based superior performance and organizational effectiveness. International Journal of Productivity and Performance Management. 2019 Jun 10; 68(4): 753-773 10.1016/j.eswa.2009.06.042 Shih KH, Liu YT, Jones C, Lin B. The indicators of human capital for financial institutions. Expert Systems with Applications. 2010 Mar 1; 37(2): 1503-1509 10.1111/j.1744-6570.2000.tb00220.x Shippmann JS, Ash RA, Batjtsta M, Carr L, Eyde LD, Hesketh B, Kehoe J, Pearlman K, Prien EP, Sanchez JI. The practice of competency modeling. Personnel psychology. 2000 Sep; 53(3): 703-740 10.2307/270723 Sobel ME. Asymptotic confidence intervals for indirect effects in structural equation models. Sociological methodology. 1982 Jan 1; 13: 290-312 Spencer LM, Spencer S. Competence at Work: Models for Superior Performance, Wiley, New York, NY. 1993 10.1093/oep/53.3.385 Stasz C. Assessing skills for work: two perspectives. Oxford economic papers. 2001 Jul 1; 53(3): 385-405 10.1111/j.1533-8525.1970.tb02074.x Stebbins RA. Career: The subjective approach. The Sociological Quarterly. 1970 Jan 1; 11(1): 32-49 10.1016/S1053-4822(98)80003-X Sullivan SE, Carden WA, Martin DF. Careers in the next millennium: Directions for future research. Human Resource Management Review. 1998 Jan 1; 8(2): 165-185 10.1108/02683940710820073 Suutari V, Mäkelä K. The career capital of managers with global careers. Journal of Managerial Psychology. 2007 Sep 25; 22(7): 628-648 Tams S, Arthur MB. The boundaryless career. In Encyclopedia of career development. Sage Publications. 2006: 44-49 10.1177/019394599701900206 Taunton RL, Boyle DK, Woods CQ, Hansen HE, Bott MJ. Manager leadership and retention of hospital staff nurses. Western journal of nursing research. 1997 Apr; 19(2): 205-226 10.5465/3069444 Tharenou P. Going up? Do traits and informal social processes predict advancing in management?. Academy of management Journal. 2001 Oct 1; 44(5): 1005-1017 10.4324/9781410608895-17 Uhl-Bien M. Relationship development as a key ingredient for leadership development. InThe future of leadership development. Psychology Press. 2003 Sep 12: 155-174 10.58346/JISIS.2023.I2.004 Obeidat A, Yaqbeh R. Business Project Management Using Genetic Algorithm for the Marketplace Administration. Journal of Internet Services and Information Security. 2023; 13(2): 65-80 10.1108/02635570810844098 Verdú‐Jover AJ, Gómez‐Gras JM, Lloréns‐Montes FJ. Exploring managerial flexibility: determinants and performance implications. Industrial Management & Data Systems. 2008 Feb 1; 108(1): 70-86 10.1016/j.sbspro.2012.02.055 Wang R, Tseng ML. Evaluation of international student satisfaction using fuzzy importance-performance analysis. Procedia-Social and Behavioral Sciences. 2011 Jan 1; 25: 438-446 10.1016/j.jvb.2010.05.003 Weng Q, McElroy JC, Morrow PC, Liu R. The relationship between career growth and organizational commitment. Journal of vocational behavior. 2010 Dec 1; 77(3): 391-400 10.1016/j.jvb.2012.01.014 Weng Q, McElroy JC. Organizational career growth, affective occupational commitment and turnover intentions. Journal of vocational behavior. 2012 Apr 1; 80(2): 256-265 10.1080/13598660802607673 Williams J, Forgasz H. The motivations of career change students in teacher education. Asia‐Pacific Journal of Teacher Education. 2009 Feb 1; 37(1): 95-108 10.1108/eb053651 Woodruffe C. What is meant by a competency?. Leadership & organization development journal. 1993 Jan 1; 14(1): 29-36 10.1108/13673270710832163 Zaim H, Tatoglu E, Zaim S. Performance of knowledge management practices: a causal analysis. Journal of knowledge management. 2007 Oct 30; 11(6): 54-67