ASSESSING POSSIBLE OUTCOMES REGARDING ORGANISATIONAL JUSTICE IN THE FINANCIAL SERVICES INDUSTRY

Abstract

Organisational justice has captured the interest of scholars in recent years since it is associated with the perceptions of an individual, to the presence of fairness in an organisation. It thus captures what an individual feel or evaluates to be, morally correct rather than viewing it to be something prescriptive. The primary objective of this study is to assess the possible outcomes regarding organisational justice within the South African financial services industry. A quantitative research design was employed. Non- probability sampling was used and 436 usable questionnaires were returned. The empirical results reveal that trustworthiness of management, intrinsic and extrinsic rewards, organisational transparency and organisational climate have positive influence on procedural-interactional justice and distributive justice, while employee engagement is founded to have no significant influence on both procedural-interactional justice and organisational distributive justice. Furthermore, both procedural-interactional justice was found to have a positive influence on both organisational citizenship behaviour and reputable employee retention, while organisational distributive justice had positive influence on organisational citizenship behaviour and reputable employee retention.

Keywords: Financial Services Firms, Organisational Justice, Trustworthiness of Management, Extrinsic Rewards, Intrinsic Rewards, Organisational Citizenship Behaviour, Reputable Employee Retention

JEL Classification: L20, L21

Received: 25.11.2018

Accepted: 26.03.2019

Published online: 24.04.2019

How to cite this paper: Mrwebi, V. (2019). Assessing possible outcomes regarding organisational justice in the financial services industry. Corporate Governance and Sustainability Review, 3(1), 51-63. https://doi.org/10.22495/cgsrv3i1p5