Money cannot buy happiness: improving governance in the banking sector through spirituality

Abstract

Purpose A model is proposed to develop happiness in the banking sector based on an improvement in the spirituality of employees. Design/methodology/approach Following the Schwartz’s model for behavioural transformation, a new path has been proposed based on the development of the transcendent vision of work. The data obtained were analysed using the partial least squares-structural equation modeling (SEM) method. Findings Contrary to the widespread idea that happiness is orientated towards the enjoyment of goods, bank employees prefer to develop spiritual values and resources that allow them to respond adequately to massive layoffs and pressures at work. Research limitations/implications The bank employees’ schedules made it difficult to organise group sessions. Multiple sessions prevented us all from interacting. Practical implications It is established a training strategy for the pursuit of happiness, to propose an engine for actions orientated towards happiness and to introduce transcendence and spirituality as requirements for finding happiness during daily work. Social implications There is a need to return to traditional values and principles in daily work. This will have a positive effect on communities and society. Originality/value A new concept has been coined: spiritual resources. This new variable can help to combat adversity by exploring the meaning of transcendence at work.