The need to fulfil the relational and transactional psychological contract of partners is well recognised, however, this is because all partners share the business and have a voice within decision-making process, yet, the sustainability of the psychological contract mainly transactional depends on the financial stability and profitability of the JLP, and this could be further tested in the time of downswing.

The constitution does provide them guiding principle, but JLP has the flexibility to adapt different approaches to create human capital advantage through various strategies. However, there is overly emphasise to filter through candidates who can fit with their partnership behaviour (spirit) and then can lose out a huge chunk of the talent pool. The total reward model has been crafted carefully with partner’s involvement which plays a substantive role in escalating the motivation and commitment of their partners to their job and organisation.

REFLECTION

The contextual scope of the society (power distance, individualism/collectivism and masculinity) enact a significant role in shaping the leadership style, in addition, the organizational culture (values, beliefs, customer, and practices) further provide refinement to it, yet, with self-awareness and training, one can allow himself to adapt/change different leadership styles.

Having worked in medium-scale insurance company for more than 8 years (in UK), I have realized with the help of this module that extrinsic values can only motivate a person in a short-term and for a perpetual high level of performance, engagement and job satisfaction, employer need to realize that there is also unwritten contract to discharge, otherwise, it could lead to despair, apathy and anger, consequently, detrimental effects on business viability.

REFERENCES

Armstrong, M. and Taylor, S. (2014) Armstrong’s handbook of human resource management practice. Kogan Page P