PSYCHOSOCIAL DETERMINANTS OF EMPLOYEES’ PERFORMANCE AMONG INSURANCE WORKERS

Abstract

Job insecurity is a significant psychosocial factor that can influence employee performance, particularly in industries where uncertainty about employment stability is prevalent. This study explores the impact of job insecurity and selected demographic factors on employee performance within the Nigerian insurance industry. It specifically examines how job insecurity, age, marital status, work experience, and educational qualifications interact to affect task and contextual performance. A cross-sectional research design was used, with a sample of 150 employees from various insurance companies in Ibadan, Nigeria. The sample consisted of 61 male respondents (40.7%) and 89 female respondents (59.3%), with an age range from 20 to 48 years (M = 30.75, SD = 7.18). Data
were collected via a structured questionnaire measuring job insecurity, task performance, and contextual performance. Statistical methods, including Chi-Square tests, multiple regression analysis, and t-tests, were employed to analyze the relationships between variables. The study found a significant association between job insecurity and employee performance. Specifically, a high level of job insecurity was linked to lower employee performance (ϰ² = 134.40, df = 1, P < 0.05). The regression analysis revealed that work experience and marital status were significant predictors of job performance (β = -0.165, P < 0.05 and β = -0.180, P < 0.05, respectively).
However, age and educational qualifications did not significantly predict job performance. Gender differences in job performance were not significant (t = -0.544, P > 0.05). The findings underscore the negative impact of job insecurity on employee performance, particularly within the Nigerian insurance industry. The results suggest that work experience and marital status are key demographic factors influencing performance. While demographic variables such as age and education did not significantly predict job performance, the study highlights the need for organizations to address job insecurity and support employees in navigating this uncertainty. Future research could explore other factors influencing employee performance.