Promotional opportunity, rewards, job security, training, career success and career commitment in insurance sector of Pakistan

The objective of this study is focused on the permanent employees’ career success in Pakistan insurance sector. In Pakistan, insurance sector is the most neglected sector for permanent employees to as a career path due to the lack of skill development, promotions and job security. The research objective is to study the impact of promotional opportunity, rewards, job security and training on career commitment and career success. The research framework of this study was developed based on theories of Social Cognitive Career Theory and Social Cognitive Theory. A total of 650 questionnaires were distributed to permanent employees in the insurance sector and 386 questionnaires were returned. The analysis was performed by SPSS 24 and Smart PLS 3.0. The results showed that promotional opportunity, rewards, job security, training are positively significant with career commitment. On the other side, promotional opportunity and job security are positively significant with career success, whereas, rewards
and training are not supported with career success. This study revealed a positive significant relationship between career commitment and career success. The moderating variable of self-efficacy in the relationship between career commitment and career success was found negatively significant which showed that the mindset and belief of the employees are negative about insurance sector as a career. This study proposes several theoretical and practical contributions which provide evidences that there is a strong relationship between promotional opportunity, rewards, job security, training and career success through career commitment and supports the theoretical relationship exhibit in the research framework. Finally, this study practically suggests that permanent employees in Pakistan insurance sector can be driven to develop their career by promotional opportunity, rewards, job security and training, as equivalent to other service sectors.