Employee's Perception of Change Effect as a Competitive Advantage on Nigeria Banking Industry: An Empirical Analysis

Abstract

The intensity of competition has increased within the Nigeria banking system, due to series of reforms that led to implementing organizational development in the industry as away of repositioning the country's economy to achieve the objective of becoming one of the 20 largest economy by the year 2020. Creating a sustainable competitive advantage therefore has become paramount importance considering the institutional changes that were introduced in form of strategy to conform to the changing norms and patterns of operation in the industry. Such strategies include merger and acquisitions, private placement, re-engineering process, right sizing and so on. This paper attempts to evaluate employee's perception of change effect as a competitive advantage on the Nigeria banking industry, thereby assessing employees' perception of change effect on personal job outcome variables in relation to change success. Using multiple regression analysis, the findings of the study reveal the existence of significant relationship between employees' perception of change success and the personal job outcome variables. The beta analysis shows that employee perception of job commitment; good salary and job security were the strong determinants of employee perception of change effect with perception of self-actualization and career progression as the weak determinants. It is proffered in the paper that change agents in the banking industry should always consider the aspect of job security and motivational incentives when implementing change.

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