In the investment sector, organisations not only compete for talent locally but also with other global players. Competitive environments require proactive strategies and practices to ensure employees are equipped with the necessary resources to be adaptable and recognised enough to commit. In the Fourth Industrial Revolution (4IR), individuals face a turbulent work environment and unstable employment arrangements because of economic factors, which require them to take proactive measures to manage their careers (Coetzee, 2018; Oosthuizen, 2022; Savickas & Porfeli, 2012). As a life-career survival strategy, adaptability must be incorporated into career plans. People’s ability to adapt to their careers is considered an essential personal quality (Rossier et al., 2017). The career adaptability theory of Savickas and Porfeli (2012) highlights ‘career control, career concern, career confidence and career curiosity as chief attributes needed to navigate career behavior’ (p. 749). Furthermore, Coetzee (2018) suggests that individuals who demonstrate self-efficacious career adaptability can remain motivated even under adverse circumstances and uncertainties to achieve their career goals. A wide range of psychosocial competencies is needed for employees to cope with the pressures of career self-management in the 4IR, given the turbulent work experiences (Rossier et al., 2017; Fox & Signé, 2021).

The South African investment sector is important not only for the country’s economy but also its financial system (Greenwood & Scharfstein, 2013). It encompasses various financial institutions, investment vehicles, and market participants involved in the allocation of capital for growth and returns. The 4IR has significantly impacted various sectors worldwide, including the investment sector in South Africa. The 4IR requires professionals in the investment sector to be adaptable and open to learning new skills (Oke & Fernandes, 2020). Those who can adapt to changing technologies, embrace digital tools, and continuously upgrade their knowledge and expertise are more likely to succeed in their careers. As technology becomes more pervasive in the investment sector, organisations need to foster a culture of innovation and digital transformation (Oke & Fernandes, 2020). Employees who are committed to their organisations will be more willing to embrace change, contribute to the implementation of new technologies, and adapt their skills to align with the firm’s strategic goals. On the other hand, organisations that fail to address the impact of the 4IR may experience decreased employee commitment (Oke & Fernandes, 2020).

Given the complex nature of the work performed in the investment sector, it is imperative that employees have the ability to handle the unforeseen requirements of their work roles during a transition, like the 4IR, in the work environment. The 4IR continues to transform the work environment landscape, and the investment sector is no exception. As technological advancements, automation and digitisation continue to reshape the world of work, it becomes crucial to understand employees’ career adaptability within a particular organisation because it impacts their commitment to that organisation. An employee’s demographic factors play a part in their career adaptability and achieving high levels of organisational commitment. The ability to adapt to work uncertainty is one of these characteristics (Ferreira, 2012; Savickas, 2011). It is challenging for organisations to find and retain high-quality human capital in an unstable commercial environment, competing for scarce resources in an era of globalisation. Numerous organisations suffer from a lack of organisational commitment.

The purpose of the present research was to investigate the relationship between career adaptability and organisational commitment among employees in the investment sector, while taking into account pertinent biographical factors.

Career adaptability is worth exploring in the South African investment sector because of its dynamic nature, diversified market, technological advancements, regulatory changes, and global exposure. It enables professionals to navigate industry changes, broaden their skill set, embrace new technologies, stay updated with regulations, and develop a global mindset, leading to increased employability and long-term career prospects (Rudolph et al., 2017; Savickas, 2013). Because most occupations no longer allow employees to climb the career ladder as a result of workplace changes in the 4IR (Ramos & Lopez, 2018), career stability will continue to disappear in the 4IR. Several studies have highlighted the importance of career adaptability for the preparation of individuals for unexpected tasks, work roles, and changes in work conditions (Gong et al., 2022; Ramos & Lopez, 2018). Employees’ capacity to adapt to changing roles at work influences their career adaptability (Rudolph et al., 2017; Savickas, 2013). The four dimensions of career adaptability utilised in this study (Savickas & Porfeli, 2012) entail: career concern, referring to the degree to which employees are planning for the future and preparing for unpredictable career challenges; career control, referring to the degree to which employees feel that it is within their control to make career changes; career curiosity, referring to the degree to which employees feel they need to take responsibility for their future careers; and career confidence referring to the degree to which employees have belief in themselves about their careers.

In the literature review, it became evident that career adaptability is an important construct for managing unclear tasks and ambiguities in the workplace (Gupta et al., 2015; Kou et al., 2023). Accordingly, employees with greater career adaptability tend to be more proficient at planning, exploring, making decisions, and expressing themselves with confidence (Hirschi, 2009). A person’s ability to manage intrinsic and circumstantial factors in their career reflects their independence (Chong & Leong, 2015). The study of Perera and McIlveen (2017) has further demonstrated that employees who are adaptable provide a constructive contribution to their organisations. Karatepe and Olugbade (2017) found that previous research neglected the impact of employee initiative and focussed more on factors beyond employees’ control such as work conditions. The present study sought to address this gap by examining the relationship between career adaptability and organisational commitment, considering relevant biographical variables, and acknowledging the proactive role of employees in shaping their commitment levels.

Organisational commitment is of great importance in the South African investment sector. It cultivates employee loyalty, dedication, and a sense of belonging, leading to increased productivity, stronger teamwork, and higher job satisfaction (Markovits & Van Dick, 2007). By fostering a committed workforce, organisations can reduce turnover rates, retain top talent, and create a positive work culture where employees are motivated to go above and beyond. This commitment not only enhances the organisation’s reputation but also makes it more attractive to prospective employees, giving them a competitive edge in the industry (Signé, 2023). Organisational commitment has been studied in several studies (Arasanmi et al., 2019; Filimonau et al., 2020). This great focus on organisational commitment is because of the fact that it is a key component of a successful organisation (Mokoena et al., 2022). According to Al Mutair et al. (2023) and Steers (1977), organisation commitment is a collection of employees’ feelings and emotions derived from their experiences working for a company. In addition to attaching themselves to their organisations, goals and roles, employees tend to be more attached to their organisations for their benefit than for their own gain (Markovits & Van Dick, 2007). Cegarra-Navarro et al. (2010) define organisational commitment as the degree to which employees view their togetherness with the organisation and derive their desire to remain with it (Cegarra-Navarro et al., 2020). Organisations can measure employee commitment through assessing organisational commitment (Mowday et al., 1982). It is estimated that the depth of this commitment will be determined by whether the employees perceive the organisation’s goals and values, how much effort they put into their work, and whether they are willing to remain employed by the organisation. Affective, normative, and continuance organisational commitment are three synchronised mental states (Meyer & Allen, 1997). Affective commitment describes a subjective, emotional, and interactive relationship with the organisation (Meyer & Allen, 1997). Because of the entrenched custom of reciprocity, normative commitment is an obligatory commitment (Meyer & Allen, 1997). When individuals leave a company, continuity commitment conveys commitment based on the cost of social and economic separation (Meyer & Allen, 1997). Employee commitment is critical for an organisation’s success in the 4IR as it operates in a highly competitive environment (Signé, 2023). In this study, Meyer and Allen’s (1997) framework of organisational commitment was used as the foundation because its core tenets stated that the construct provides evidence of psychological attachment between employees and their organisations, leading to a lower turnover rate spontaneously.

South Africa is a diverse country with a complex history of social and economic disparities (Myer et al., 2004). Researching career adaptability and organisational commitment in the investment sector with a consideration on demographic factors can shed light on potential disparities or inequalities within the industry. According to Tladinyane and Van Der Merwe (2015) and Savickas (2013), the inclination for change diminishes as individuals grow older, while younger and middle-aged individuals demonstrate greater adaptability compared to older employees. Lyons et al. (2021) emphasise the substantial variations in career development trends between men and women, highlighting the significance of examining gender differences within the career context. However, despite their assertion, there is a scarcity of existing literature that examines the relationship between gender and career adaptability and organisational commitment. Furthermore, there is limited available literature specifically examining ethnicity in relation to career adaptability and organisational commitment within the South African investment sector context. Understanding how ethnicity intersects with career adaptability and organisational commitment, can provide valuable insights into the experiences and challenges faced by different ethnic groups in the South African investment sector workforce. Upon examining the existing literature, it became apparent that qualifications continue to be regarded as a significant factor in the realm of career adaptability research (Koen et al., 2012). Correspondingly, Coetzee (2018) suggests that in previous times of relatively stable job environments, career development focussed on career maturity, which facilitated upward mobility and knowledge enhancement. In their study, Rossier et al. (2017) examined job-specific tenure and organisational tenure and found that workers faced the risk of becoming complacent and satisfied if they did not engage in up-skilling or re-skilling over a continuous period of 5 to 10 years. Consequently, their adaptability and flexibility would decline, increasing vulnerability in the labour market. As far as the researchers’ knowledge goes, no studies have explored the relationship between the business unit and the main constructs under investigation. On the contrary, numerous studies on career adaptability have focussed on exploring personal differences among individuals.

In conclusion, based on the reviewed literature, career adaptability plays a significant role in the psychological contract between employees and their investment sector organisations (Rasheed et al., 2020). When individuals possess high levels of career adaptability, they are more likely to actively seek and capitalise on career development opportunities within the organisation. This proactive behaviour demonstrates their commitment to self-improvement and growth. In turn, organisations that provide ample career development opportunities and support to their employees foster an environment that nurtures career adaptability. When investment sector organisations devote in employees’ career growth, individuals perceive a reciprocal obligation to commit to the organisation and fulfil their role-related responsibilities (Delobbe et al., 2016). This creates a positive cycle of career adaptability and organisational commitment necessitating the relationship to be explored while accounting for individuals’ biographical make-up.

The investment sector is operating in the fast-paced and dynamic world of work, and employees’ ability to adapt their careers to changing circumstances and their level of commitment to their organisations play critical roles in achieving both personal and organisational success. However, there is limited empirical research exploring the relationship between career adaptability and organisational commitment specifically within the investment sector. This study aims to address this research gap and answer the question – what is the relationship between career adaptability and organisational commitment among employees in the investment sector? Furthermore, the study seeks to examine how demographic variables may influence this relationship. Studying the relationship between career adaptability and organisational commitment among employees in the investment sector, while also considering the effect of demographic variables, offers several benefits to employees, organisations in the investment sector and industrial psychologists. A highly committed and adaptable workforce is more likely to be productive, innovative, and receptive to change. The study’s findings can contribute to organisational success by fostering a positive work culture and leveraging employees’ potential to the fullest. Promoting career adaptability and aligning it with employees’ commitment to the organisation, can create a more supportive and fulfilling work environment, leading to higher retention rates for the investment sector. Analysing the impact of demographic variables on career adaptability and organisational commitment will enable industrial psychologists to develop tailored talent management practices.

A quantitative non-experimental research design was used (Franz, 2023) to conduct the study. Because the variables were interrelated, a cross-sectional survey design was deemed appropriate (Kerlinger et al., 2000). A correlational statistical analysis was used in order to determine the empirical relationships between the variables (Durrheim & Dixton, 2010).

Data were collected using an online survey platform that was secure and encrypted. The objective of extending the invitation was to attain sample (n = 200) participants for the study. The inclusion criteria consisted of permanent employees in the investment sector, while the exclusion criteria encompassed non-permanent employees and non-investment sector employees.

Statistical analysis of the data was carried out with Statistical Package for Social Sciences (SPSS) version 26 (IBM Corp, 2019). Inferential statistics, descriptive statistics, and correlational statistics were computed. Cronbach’s alphas were calculated to assess the instruments’ internal consistency. According to Field (2013), parametric statistics are properly addressed by considering several assumptions, including normality, homogeneity of variance, interval data, and independence. Accordingly, the assumptions were heeded, and the results were as follows: the Levene’s test confirmed homogeneity; parametric statistics indicated interval data and independence. According to Kerlinger et al. (2000), means and standard deviations (SD) were calculated as part of the descriptive statistics to determine the central tendency and dispersion of scores. A Pearson product-moment correlation was calculated to determine if the variables are positively or negatively related, as well as the strength of their relationship. A judgement call was made to set the significance value at a 95% confidence interval (CI) level (p < 0.05) in order to prevent Type I errors, as it aligns with the commonly accepted standard of practice. By adhering to this threshold, there is a balance between the risk of falsely rejecting the null hypothesis and the need to make accurate conclusions based on the observed data. The relationship was deemed practically significant when the results indicated r values greater than 0.30 (Cohen, 1992). The variation caused by biographical variables on dependent variables, namely career adaptability and organisational commitment, could be assessed using standard multiple regression analyses. F-tests were used to measure significant regression between career adaptability and organisational commitment. In the study, organisational commitment was considered the dependent variable, while career adaptability was the independent variable. Additionally, the impact of biographical variables was examined as moderating variables. The R² values that yielded a value larger than 0.13 were deemed to have a medium effect and therefore were considered practically significant (Cohen, 1992). T-tests and analysis of variance (ANOVA) were used to determine the significance of mean differences. Specifically, t-tests were used to assess the variance between the gender scores, career adaptability scores, and organisational commitment scores. Analysis of variances were used to measure the significance of differences in means for several variables – such as age, ethnicity, qualifications, tenure, career adaptability, and organisational commitment – for each group.

The University of South Africa Research Ethics Committee granted ethical clearance to conduct this study (Ref #: 2020_CEMS_IOP_002). Informed consent was obtained from the participants for the use of their data in research. A perpetual commitment was made to protect participants’ anonymity, voluntary participation, and confidentiality.

This section depicts the empirically tested differences in career adaptability and organisational commitment in terms of demographic variables. One-way ANOVA and independent t-tests were conducted to test for significant mean variations for the main variables.

Results of CAAS and OCQ indicate that participants are generally highly committed to their careers and organisation. Career control has a high mean score, suggesting that the sampled employees feel self-regulated, take responsibility for their future, and can independently determine what learning they need to make for career adaptations in the 4IR (Oosthuizen, 2022; Signé, 2023). A significant positive relationship was observed between all OCQ variables and respondents with high levels of career control. According to Al Mutair et al. (2023) and Savickas and Porfeli (2012), career control is ‘an employee’s focus on the future of his or her career while taking into account the challenges that will accompany it’. This research’s respondents are very much aware of the importance of career control and incorporate it into their career goals, as suggested by Ismail (2017). The respondents’ low mean score was obtained for career concern. According to Ismail (2017), this suggests that respondents were not worried about their careers. It is important to note that this outcome is interpreted in the context of coronavirus disease 2019 (COVID-19), particularly in South Africa (Armdt, 2020), when career concerns may not have been a priority or area of focus for respondents at the time (Armdt, 2020). Generally, a high level of career concern is expected as it reflects individuals’ capability of getting other employment opportunities (Koen et al., 2012; Savickas et al., 2019). The importance of empowering employees in order to deal with various career obstacles is thus highlighted.

Organisational commitment is important to understanding employees’ movement behaviour (Bahrami et al., 2016). According to the responses, there is a high measure of continuity commitment, which indicates that respondents are only committed to the organisation because they are aware of the financial consequences of terminating their employment. In addition, this score should be understood in light of the fact that the study was conducted during the COVID-19 pandemic (Arndt et al., 2020), during which financial security became a top priority. A work culture that allows employees to be adaptable may be a winning strategy (Ferreira et al., 2010), but commitment from employees is important for the stability of the organisation (Nayak & Sahoo, 2015). The research respondents scored low on the affective commitment mean score. According to Mercurio (2015), Meyer et al. (2002) and Beck and Wilson (2000), employees who are emotionally committed to an organisation perceive their goals and values as aligned with those of the organisation. In spite of many studies confirming the stated outcome, Rathi and Lee’s (2017) study produced contrasting outcomes. If presented with an opportunity to terminate their employment, employees who perceive incongruence between themselves and the organisation are more likely to do so (Bahrami et al., 2016).

The individuals’ biographical variables are crucial in understanding their level of career adaptability and organisational commitment (Zacher, 2014). Past research has highlighted factors such as age and gender as significantly related to organisational commitment (Azeem, 2010).

Career adaptability and organisational commitment can benefit both organisations and employees (Ferreira, 2019). Adaptability in managing these transitions in the 4IR is essential both for employers and employees to keep up with changes at the micro and macro level (Oosthuizen, 2022). An employee’s ability to navigate career-related challenges and environmental stressors is positively influenced by adopting a growth mindset. In person-centred career discussions, managers should identify employees’ strengths and/or areas of enrichment to advance their careers (Potgieter, 2012, 2014). The 4IR requires organisations to provide employees with opportunities to enhance their career adaptability (Signé, 2023) so they can support sustainable organisations. Organisational career management practices should be emphasised in workplaces, and more attention should be given to sensitising employees of the importance of career adaptability as it will improve their commitment (Ndzube, 2013). As part of career strategies and practices in organisations, biographical variables should not be underestimated (Oosthuizen et al., 2014). Optimising career adaptability and fostering organisational commitment necessitate implementing customised interventions that take into account the biographical factors investigated in this study.