Psychological capabilities for salespeople’s sustainable work performance in financial services sector

Abstract

AbstractThe present study investigated the importance of psychological capabilities to support financial product salespeople in overcoming challenges and sustaining motivation and work performance during and after COVID-19 pandemic. Furthermore, this study suggests useful ways to develop the psychological capabilities. By using an interpretive phenomenological approach as the methodology, twenty financial product salespeople have been interviewed. The findings reveal that positive mindset, belief-in-oneself and not-giving-up are crucial psychological capabilities for salespeople’s sustainable work performance. These psychological capabilities match with the elements in the Psychological Capital Model. Positive mindset is associated with hope and optimism; belief-in-oneself is associated with self-efficacy, and not-giving-up is associated with resilience. The study also found approaches that help develop these psychological elements, including being proactive in seeking help and guidance, setting personal goal, and continuous learning. The findings contribute to the financial services and sales literature by providing a better understanding of how psychological capabilities help motivate financial product salespeople toward positive and sustainable work outcomes, and the ways to develop the psychological capabilities.