The consequences and limits of empowerment in financial services |
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| Institution: | 1. Division of Pharmacology, Utrecht Institute for Pharmaceutical Sciences, Utrecht University, Universiteitsweg 99, Utrecht 3584 CG, The Netherlands;2. The Fred Wyszkowski Cancer Research Laboratory, Department of Biology, Technion-Israel Institute of Technology, Haifa, Israel;1. College of Chemistry, Jilin University, Changchun 130026, PR China;2. Department of Chemistry, Tonghua Normal University, Tonghua 134002, PR China;1. Department of Surgery, The University of Texas Medical Branch, Galveston, TX;2. Department of Internal Medicine, The University of Texas Medical Branch, Galveston, TX;3. Department of Surgery, The University of California, San Francisco-East Bay, Oakland, CA;4. Department of Surgery, The University of South Florida, Tampa, FL;1. Stanford University, USA;2. LICOS Centre for Insitutions and Economic Performance, University of Leuven, Belgium;3. Center for Chinese Agricultural Policy, Chinese Academy of Sciences, China;4. Ningxia University, China;1. Department of Psychological and Brain Sciences, Washington University in St. Louis, St. Louis, Missouri;2. Department of Psychology and Neuroscience, Duke University, Durham, North Carolina;3. 23andMe, Mountain View, California |
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| Abstract: | Empowerment may be one of the answers to the growing competition and increasingly demanding customers in the financial retail sector, but the relation between empowerment and profit-oriented behaviour at the service encounter has been only sparsely documented. This article offers a comparative empirical analysis of the conditions and impact of empowerment and related activities in Danish financial institutions, with a focus on semi-standardised front-line jobs. The results indicate that granting decision-making authority and autonomy to the individual front-line employees has often been a powerful step in the efforts of the financial service companies to increase their competitiveness. In the change process, formal participation has only a moderate supportive impact on performance while changes initiated at the branch offices and the linking of rewards with performance, both have a notably positive impact on the competitiveness and profit-oriented behaviour of front-line employees. |
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