CASUAL STAFF COMMITMENT ON PERFORMANCE OF INSURANCE COMPANY IN NIGERIA

Raji, Oladeinde Akeem¹ & Adegboye, Emmanuel Olatunji²

¹Department of Insurance, The Federal Polytechnic Ilaro, Ogun State.

²Department of Banking & Finance, The Federal Polytechnic Ilaro, Ogun State.

Email: Akeemraji02@yahoo.com; Adejuwonolatunji95@gmail.com

ABSTRACT

Casual staffs are sometimes uncommitted to their jobs due to some factors and benefits accrued to permanent workers but not to casual staffs. However, it is very disastrous to company performance when employees are not committed to their jobs. It is in lieu of this that the researchers attempted to examine the impact of casual staff commitment on the performance of insurance company’s in Abeokuta Metropolis, as the economic hub of Ogun state.. Explanatory research design was employed as the cross sectional survey research design in generating the required primary data. A well-structured questionnaire was developed and administered among sampled casual staff of five selected insurance companies in the metropolitan city. Multi-stage sampling procedure was employed to select the respondents of the study and study data was analysed with STATA software application. Prior to Ordinary Least Square (OLS) analysis, Factor Analysis (FA) was conducted. The findings indicate that loyalty, pride of belonging and high morale as staff commitment indicators have positive impact on performance of insurance, while value of congruence has negative impact on performance of insurance company. Meanwhile, findings reveal further that all the predictors except value congruence were statistically significant at 5% level of significance. The study concludes that despite the informal employment status of casual staff of insurance companies in Abeokuta metropolis, their commitments have significant implications for performance of insurance companies in the city. The study, therefore, recommends that insurance sector should exhibit high level of commitment to its casual staff in term of high morale like encouragement, motivation among others.

Keyword: Casual, Loyalty, Value Congruence, High Morale, Pride of Belongings, Performance, Commitment, Insurance Company.