LEADERSHIP STYLES AND EMPLOYEE WELL-BEING IN FIRST BANK NIGERIA LTD., LAGOS STATE, NIGERIA
Keywords:
Transformational Leadership, Transactional Leadership, Laissez-Faire Leadership, Workplace Mental Health.Abstract
Given the high-pressure environment of Nigeria's banking industry, understanding the influence of leadership styles on employee well-being is critical for fostering a sustainable and productive workforce. This study examined the impact of leadership styles on employees' well-being, particularly for those employed in high-pressure industries such as Nigeria's banking industry, using First Bank branches in Lagos State, Nigeria, with emphasis on transformational, transactional, and laissez-faire leadership philosophies. One hundred employees from ten First Bank branches in Lagos, Nigeria, were selected using convenience sampling and were mailed a structured online questionnaire as part of a quantitative design for the study. Primary data were collected through the questionnaire, which measured employees’ perceptions of leadership styles and their well-being using Likert-scale items. Multiple regression analyses were carried out to examine how each of the three leadership styles predicted employees’ well-being, with reference to established theoretical frameworks on leadership and occupational well-being. Transformational leadership and laissez-faire styles significantly and positively influenced employee well-being. Transactional leadership style did not have a significant effect on employee well-being, which could be due to the fact that it is purely task-orientated and based on performance rewards, and it does not have the emotional support and motivational aspect that would improve employee well-being, particularly in a high-stress job like in banking. These findings are valuable contributions to information on the dynamics of leadership styles in the Nigerian banking industry, offering precise, practical suggestions for human resource policies and leadership development to support employee well-being.
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