Employee Exit-Based Communication and Survival of Quoted Insurance Firms in Nigeria

Abstract

The study examined employee exit-based communication and survival of quoted insurance firms in Nigeria. The study adopted contingency theory to build the literature. The study adopted cross-sectional survey design. The population of the study consists of quoted insurance companies listed on the Nigerian Exchange group (NGX) consisting of twenty three (23) companies in the financial industry in Nigeria. Primary data was used in the study. Content and face validity was utilized. The study employed descriptive and inferential statistical tools such as: mean, standard deviation and Spearman’s Rank Order Correlation Coefficients to analyze the data. The findings revealed that employee exit-based communication has a very strong positive and significant influence on survival of quoted insurance firms in Nigeria. The study concludes that employee exit-based communication has a strong and significant influence on the outcomes of productivity, and liquidity; thus advancing positive outcomes of survival of quoted insurance firms in Nigeria. The study recommends that management of quoted insurance firms should prioritize employee exit-based communication: briefed shareholders of any changes; communicate to parties that may be affected by the exited employee status and changes. Furthermore, stakeholders should be keep abreast of the changes to the roles and responsibilities of any exiting employee, thus, this would strengthening bonds and connections between management and employees, creating understanding and shared responsibility within the organization.