The relationship between psychological capital, eudaimonic well-being and work engagement

Abstract

Orientation: The struggle for survival in the mining industry is intense and a competitive advantage can be obtained by having employees who are engaged in their work. Research purpose: To conceptualise the relationship between PsyCap, eudaimonic well-being and work engagement and to determine the predictive nature of PsyCap and eudaimonic well-being in terms of work engagement. Motivation for the study: Organisations with more highly-engaged engaged employees for every actively disengaged employee than their competitors, experienced higher earnings per share. Companies who can increase the level of work engagement may experience an increase in profit due to an increase in employee output. Research design, approach and method: A quantitative, cross-sectional approach was employed. The convenience sample (n=339) included males and females, with different levels of education and tenure. Exploratory factor analyses and calculation of Cronbach's alpha were used for validity and reliability testing. Coefficient correlations were used to assess relationships. Regression analyses were used to determine the predictability of PsyCap and eudaimonic well-being on work engagement. Main findings: There is a positive relationship between PsyCap, eudaimonic well-being and work engagement. PsyCap was found to be a strong predictor of work engagement. Eudaimonic well-being was not a predictor of work engagement. Practical/managerial implications: The study highlights the relationship between PsyCap, eudaimonic well-being and work engagement. The importance of PsyCap as a predictive tool of work engagement was underlined, PsyCap being open for development and enhancement, thus creating opportunities for management to improve the PsyCap levels which will result in increased levels of work engagement. Contribution/value-add: The study confirmed the predictive nature of PsyCap and provided increased knowledge regarding the relationship between eudaimonic well-being and work engagement. The business environment world-wide face enormous challenges with regards to disengaged employees. Organisations can increase profits by investing in PsyCap to increase work engagement amongst employees.