Marketers’ and leaders’ understanding of innovative work behaviour in financial institutions in Ibadan, Nigeria: A qualitative inquiry

Abstract

Orientation: The Nigerian financial sector is vital for the country’s economy. Innovative work behaviour (IWB) is a significant determinant of organisations’ success and sustainability in a competitive environment. A deeper understanding of employees’ views on IWBs is critical for full engagement with the demands of the fourth Industrial Revolution.
Research purpose: The study explored marketers’ and their leaders’ understanding of IWBs in financial institutions in Ibadan, Nigeria.
Motivation for the study: Studies on IWB in the marketing divisions of financial institutions in Nigeria are quite few. A qualitative approach explored the experiences of marketers and leaders to gain deeper insight into their understanding of IWB and factors that influence it.
Research approach/design and method: Qualitative in-depth interviews were conducted with 12 marketers and six managers in various financial institutions in Ibadan, Nigeria, regarding IWB.
Main findings: The findings show that marketers and leaders have insight into IWBs. The study identified various precursors for innovation in each of the financial institutions. These precursors include transformational leadership, enabling environment, supportive organisational culture and climate, engagement and commitment to organisational growth, creativity, self-motivation and confidence.
Practical/managerial implications: Intervention guidelines were suggested to the management and leaders in these financial institutions to encourage and promote IWB among their employees regarding the importance of organisational support, leadership and improved management.
Contribution/value-add: This study contributes to the growing discourse on innovative work behaviour within Nigerian financial institutions by providing insights into its antecedents and identifying strategies for its enhancement.