Title

Resilience, optimism, hope, and self-efficacy in handling the Global Financial Crisis: Experiences of employees in a multinational industrial organisation operating in Europe, Asia and the United States

Date of this Version

1-1-2013

Document Type

Journal Article

Publication Details

Citation only

Hicks,R., & Knies, E. (2013). Resilience, optimism, hope, and self-efficacy in handling the Global Financial Crisis: Experiences of employees in a multinational industrial organisation operating in Europe, Asia and the United States. Paper presented at the Restructuring the Full Employment Narrative: Incorporating the 14th Path to Full Employment Narrative and the 19th National Conference on Unemployment, Newcastle.

© Copyright University of Newcastle, 2013

2013 HERDC Submission. FoR code: 170102;170106

ISBN

978098732762

Abstract

Little is known about how the workforce of organisations affected by the GFC managed to handle the stresses of the period and what were the qualities of employees that contributed to perceived effective performance. This paper reports on a stint in an industrial multi-national organisation with operations in Europe, Asia and the US; the study examined the relevance of employee psychological capital (human resource qualities) to perceived successful performance in the different regions. There is a strong relationship between actual and perceived performance. These findings indicated that resilience, hope, optimism, and self-beliefs/ self-efficacy were facets contributing to how well the employees saw themselves as contributing to the organisation's survival and success following the GFC of 2009. The findings appear to confirm the belief that the qualities of employees are important in the success of organisations during difficult periods.

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This document has been peer reviewed.