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Non-remuneration predictors of intention to quit among personal financial advisors

Thesis (MComm)--Stellenbosch University, 2011. / ENGLISH ABSTRACT: In insurance sales organisations, the Personal Financial Advisors (PFAs) serve a pivotal
function in the relationship between the organisation, product and customer. The
organisation invests a great deal of time and money in recruiting, training and retaining
good PFAs. However, turnover amongst these employees seem to remain high within
the first 36 months of employment.
The aim of this study was to explore the non-remuneration predictors of burnout and
intention to quit amongst PFAs in order to shed some light on the turnover problem.
Specific constructs were identified in a pilot study which would not necessarily have
been explored by the organisation and may have gone unacknowledged or overlooked.
These constructs are emotional labour, self-efficacy, time wasted on non-sales
activities, supervisor support and their relationship with burnout and intention to quit.
A convenience sample of 608 PFAs was approached from one insurance sales
organisation. One hundred and twenty two (122) respondents completed and returned
their questionnaires.
The descriptive statistics of the sample reflected a mean age of 35 years (range 21 to
61 years), with 66% males and 34% females, and a race distribution of 64% White, 19%
African, 10% Coloured and 7% Indian. The majority of the population had been working
for 13 to 24 months (46%). Overall, the sample produced a satisfactory to good
representation of the demographic statistics of the total population available to the
researcher.
Both quantitative and qualitative research techniques were utilised in this study.
Analysis of the qualitative data supported the role of the theoretical constructs chosen
for inclusion and additional sources of job stress were identified. Pearson productmoment
correlation analysis was used to analyse the questionnaire data, followed by
multiple regression analyses with work burnout, client burnout and intention to quit as
dependent variables, and the remaining constructs as the predictors. Both a
measurement and structural model was tested; both produced acceptable goodness-of-fit statistics. From all of the above-mentioned analyses, significant relationships were
found to exist between time wasted on non-sales activities, burnout, and self-efficacy;
self-efficacy, burnout and intention to quit, and burnout and intention to quit.
Conclusions were drawn from the obtained results and recommendations are made with
respect to future research, as well as with respect to the management of burnout and
intention to quit in the sales environment. / AFRIKAANSE OPSOMMING: In versekeringsmaatskappye speel die Persoonlike Finansiële Adviseur (PFA) ‘n baie
belangrike rol in die verhouding tussen die organisasie, die produk en die kliënt. Die
organisasie belê heelwat hulpbronne in die vorm van tyd en geld om goeie PFAs te
werf, op te lei en te behou. Ten spyte hiervan is daar steeds ‘n groot hoeveelheid PFAs
wat die organisasie verlaat binne die eerste 36 maande van aanstelling.
Die huidige studie se doelwit was om die nie-vergoedingsvoorspellers van uitbranding
onder PFAs, asook hulle intensies om te bedank, te bestudeer, om sodoende lig te
werp op die hoë omset onder PFAs. Spesifieke konstrukte wat nie noodwendig deur
die organisasie bestudeer sou word nie, is geïdentifiseer in ‘n loodsstudie. Hierdie
konstrukte is emosionele arbeid, selfbekwaamheid, tyd verloor op nieverkoopsaktiwiteite,
en ondersteuning deur die lynbestuurder. Hierdie konstrukte se
verwantskap met uitbranding en intensies om die organisasie te verlaat, is bestudeer in
die huidige studie.
‘n Gerieflikheidsteekproef van 608 PFAs vanuit een versekeringsmaatskappy is
genader vir deelname aan die huidige studie. Een honderd twee-en-twintig (122)
respondente het hul vraelyste voltooi en ingedien.
Die beskrywende statistiek van die steekproef het ‘n gemiddelde ouderdom van 35 jaar
getoon (verspreidingswydte 21 tot 61 jaar), met 66% manlik en 34% vroulik, en ‘n
rasseverspreiding van 64% blank, 19% swart, 10% kleurling en 7% Indiër respondente.
Oor die algemeen was die beskrywende statistiek ‘n aanvaarbare tot goeie
verteenwoordiging van die totale populasie.
Beide kwantitatiewe asook kwalitatiewe navorsingsmetodes is gebruik in hierdie studie.
‘n Analise van die kwalitatiewe data het die rol van die konstrukte wat vir insluiting
gekies is, bevestig, en addisionele bronne van werkstres is geïdentifiseer. Die Pearson
korrelasie-analises is gebruik om die vraelysdata te analiseer, gevolg deur stapsgewyse
meervoudige regressie-ontledings met werksuitbranding, kliëntuitbranding en intensie
om te bedank as afhanklike veranderlikes, en die oorblywende konstrukte as voorspellers. Beide die metingsmodel en die strukturele model is getoets, albei het
aanvaarbare pasgehalte van die model opgelewer. Uit al die bogenoemde analises is
beduidende verbande tussen die veranderlikes tyd verloor op nie-verkoopsaktiwiteite,
uitbranding, en intensie om te bedank; selfbekwaamheid, uitbranding en intensie om te
bedank; asook uibranding en intensie om te bedank gevind.
Gevolgtrekkings is gemaak vanuit die bevindinge en voorstelle is gemaak met die oog
op verdere navorsing, sowel as met betrekking tot die bestuur van uitbranding en
intensie om te bedank in die verkoopsomgewing.

Identiferoai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/17911
Date12 1900
CreatorsVan Tonder, Ronel
ContributorsMalan, D. J., Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Industrial Psychology.
PublisherStellenbosch : Stellenbosch University
Source SetsSouth African National ETD Portal
Languageen_ZA
Detected LanguageUnknown
TypeThesis
Format139 p.
RightsStellenbosch University

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