Employee Empowerment and Behaviour Modification of Selected Insurance Companies in Lagos State, Nigeria

Abstract

The frequent turnover in the insurance companies and under-performance of the financial planners has led to inability in meeting up with company production target. The focus of this research is to determine the significant relationship between training and turnover reduction. It determined the connection between some identified empowerment variables and achievement of organisational objectives. Survey research design was utilized and 261copies of structured questionnaire were used to collect data. Data collected were analyzed using mean and standard deviation. Correlation and Regression were used to test the hypotheses. It was discovered that there is a positive significant relationship between employee training and turnover reduction. The findings also revealed that the identified empowerment variables are powerful tools to modify employee's behaviour for organisational goals attainment. It is effective in helping employees to achieve their own personal career objectives which in turn change their view on seeing the organisation not only as a workplace but also as a learning organisation. The study concludes that the underlying principle of giving employees the freedom for constant improvement, flexibility, and power to make decisions and solve problems leaves an employee energized, capable, and determined to make the organization successful. It was therefore recommended that insurance companies should formulate policies and procedures for empowerment programmes at the workplace. Managers of these insurance companies should prioritize those empowerment factors, according to the organisation capacity and apply them so as to reduce the turnover rate and increase the performance of the sector.