Female Employee Exploitation and Corporate Longevity: A study of Financial Institutions in Imo State, Nigeria.

Female Employee Exploitation and Corporate Longevity: A study of Financial Institutions in Imo State, Nigeria.

Okoro, Ruth Chikwado and Ugwoegbu, Ihechukwu Victor

Nnamdi Azikiwe University, Awka, Anambra State, Nigeria

DOI: https://dx.doi.org/10.47772/IJRISS.2024.803254S

Received: 09 July 2024; Revised: 23 July 2024; Accepted: 27 July 2024; Published: 10 September 2024

ABSTRACT

The role of women in the workforce has undergone significant changes in recent decades, with an increasing number of women entering the corporate world and making valuable contributions to economic growth and development. The purpose of this study was to examine the relationship that between female employee exploitation and corporate longevity in financial institutions in Imo State, Nigeria. The specific objectives were to determine the relationship that between objectification and job satisfaction of financial institutions in Imo State, Nigeria. It also ascertained the correlation between gender-based discrimination and organisational expansion of financial institutions in Imo State, Nigeria. The study was anchored on Resource-Based View (RBV) theory, by Jay Barney (1991). It employed discriptive survey research design. The target population were 253 female staff of financial institutions in Imo State, Nigeria. Taro Yamane’s method was used to get a sample size of 155. Hypotheses were tested with Pearson Product Moment Correlation Coefficient on Statistical Packages for Social Science (SPSS version 27) at 5% level of significance. Hypothesis one revealed that there was a statistically significant negative relationship between objectification and job satisfaction of financial institutions in Imo State, Nigeria, with r = -0.312, n = 155 and p value of 0.000 (p<0.05). Hypothesis two indicated that there was a statistically significant negative correlation that exists between gender discrimination and organisational expansion of financial institutions in Imo State, Nigeria, with r = -0.249, n = 155 and p value of 0.002 (p<0.05). The study concluded that there was a statistically significant negative relationship between female employee exploitation and corporate longevity of financial institutions in Imo State, Nigeria. The study recommended among others that financial institutions in Imo State need to recognise the imperative of gender equality and take proactive steps to address discrimination, create inclusive environments, and leverage diversity to drive business expansion.

Keywords: Female Employee Exploitation, Objectification, Gender-based Discrimination, and Corporate Longevity

INTRODUCTION

The corporate world has undergone significant transformations in recent decades, with the financial sector emerging as a key driver of economic growth and development. This transformation has been characterized by rapid technological advancements, shifting economic power dynamics, and the increasing importance of global trade and investment. As a result, the financial sector has become an integral component of modern economies, driving innovation, and fostering economic prosperity (Ejededawe, 2024).

Financial institutions, in particular, play a vital role in facilitating economic transactions, managing risk, and providing essential services that underpin economic prosperity. They provide a wide range of services, including credit provision, payment systems, investment opportunities, risk management solutions, and advisory services, among others. By providing these services, financial institutions facilitate economic activity, enable innovation, and support job creation, ultimately contributing to economic growth and development. As the global economy continues to evolve, the importance of financial institutions in shaping economic outcomes and promoting sustainable development has become increasingly evident. They have become critical players in promoting financial inclusion, reducing poverty, and supporting sustainable development goals, and their contributions are likely to continue shaping the global economic landscape in the years to come (Ogundana, Simba, Dana, and Liguori, 2021).

In Nigeria, the financial sector has experienced rapid expansion, driven by a combination of factors, including economic liberalisation, technological advancements, and a growing demand for financial services. Imo State, located in the southeastern region of the country, has emerged as a major economic hub, boasting a significant presence of financial institutions that cater to the financial needs of a growing population (Adetiloye, Adegboye, and Akinjare, 2020).

The role of women in the workforce has undergone significant changes in recent decades, with an increasing number of women entering the corporate world and making valuable contributions to economic growth and development. This shift has been driven by a combination of factors, including changes in social norms, advancements in education and training, and the increasing recognition of the importance of diversity and inclusion in the workplace. As a result, women have made significant strides in various industries, bringing unique perspectives, skills, and experiences that have enriched the corporate landscape. Despite facing numerous challenges, women have demonstrated remarkable resilience, adaptability, and determination, paving the way for future generations of female professionals (Nnabuife, Ndubuisi-Okolo, and Friday, 2023).

However, despite their contributions, women continue to face systemic barriers, biases, and discriminatory practices that hinder their career advancement, well-being, and economic empowerment. Gender-based discrimination, objectification, stereotyping, and bias persist in many forms, from unequal pay and limited opportunities for promotion to harassment and unequal representation in leadership positions. These obstacles not only undermine women’s potential but also perpetuate gender inequality, limiting their ability to fully participate in the economy and reach their full potential (Ojediran, and Anderson, 2020). Addressing these challenges is crucial for promoting gender equality, empowering women, and unlocking their contributions to economic growth and development. By recognising and addressing these systemic barriers, there can be a creation of a more inclusive and equitable workplace that values and supports the contributions of all professionals, regardless of gender.

Statement of the Problem

Female employees in some financial institutions face objectification, and gender-based discrimination, leading to reduced job satisfaction and diminished organisational expansion. The exploitation manifests in various forms, including unequal pay, limited career advancement opportunities, and unfair treatment, resulting in a lack of motivation, reduced productivity, and high turnover rates. This not only affects the well-being of female employees but also hinders organisational expansion and sustainability.

Despite their contributions to the growth and development of financial institutions, female employees in Imo State, Nigeria, continue to face exploitation, perpetuating gender inequality and hindering corporate longevity. Gender-based discrimination, objectification and bias persist in the workplace, limiting career advancement opportunities and creating a hostile work environment. Female employees are often relegated to lower-level positions, denied promotions, and subjected to unequal pay, leading to reduced job satisfaction and organisational expansion.

The exploitation of female employees in financial institutions in Imo State, Nigeria, has far-reaching consequences for both the individuals and the organisations. Female employees face physical, emotional, and psychological distress, leading to reduced job satisfaction, decreased productivity, and increased turnover rates. Organisational expansion and sustainability are hindered as the institution loses talented and experienced employees. Moreover, the perpetuation of gender inequality and discrimination undermines corporate social responsibility and reputation, ultimately affecting corporate longevity. This study sought to explore the complex relationships between female employee exploitation and corporate longevity in financial institutions in Imo State, Nigeria.

Objectives of the Study

The broad objective of the study is to examine the relationship that exists between female employee exploitation and corporate longevity: A study of financial institutions in Imo State, Nigeria.

1. To determine the relationship that exists between objectification and job satisfaction of financial institutions in Imo State, Nigeria.

2. To ascertain the correlation that exists between gender-based discrimination and organisational expansion of financial institutions in Imo State, Nigeria.

Research Questions

1. What is the relationship that exists between objectification and job satisfaction of financial institutions in Imo State, Nigeria?

2. How does gender-based discrimination correlate with organisational expansion of financial institutions in Imo State, Nigeria?

Research Hypotheses

Ho: There is no statistically significant relationship that exists between objectification and job satisfaction of financial institutions in Imo State, Nigeria.

Ho: There is no statistically significant correlation that exists between gender-based discrimination and organisational expansion of financial institutions in Imo State, Nigeria.

Significance of the Study

The findings of this study is relevant to management through the gaining of a deeper understanding of the impact of female employee exploitation on corporate longevity, identifying strategies to promote gender equality and reduce exploitation, and enhancing their ability to create a positive work environment that improves employee satisfaction and productivity. This knowledge can enable management to make better decisions regarding talent management and retention, ultimately leading to improved corporate social responsibility and reputation. Female employees can benefit from this study through the validation of their experiences and concerns, increased awareness of their rights and entitlements, and empowerment to advocate for themselves and others. This will potentially lead to improved working conditions and opportunities, resulting in enhanced well-being and job satisfaction, as they feel heard, supported, and valued in their workplace.

The government can utilize the findings of this study to inform policies and regulations that promote gender equality in the workplace, understand the economic impact of female employee exploitation, and develop programs that support female employees and entrepreneurs. Additionally, the study’s insights will enable improved monitoring and enforcement of labor laws and regulations, ultimately creating a more equitable and supportive work environment for women. Academics will benefit from this study as it contributes to the body of knowledge on gender and workplace studies, providing valuable insights into the complex relationships between gender, work, and organizational performance. The study will identify areas for future research and exploration, develop theoretical frameworks and models for understanding female employee exploitation and corporate longevity, and enhance our understanding of the intersection of gender, work, and organizational behavior, ultimately advancing the field of gender and workplace studies.

Scope of the Study

The geographical scope of this study is Imo State, Nigeria. The study was delimited to financial institutions in Imo State, Nigeria. The independent variable is female employee exploitation and its proxies are: objectification, and gender-based discrimination, while the dependent variable is corporate longevity and its proxies are: job satisfaction, and organisational expansion. This study was conducted within 2024.

Female Employee Exploitation

Female employee exploitation refers to the systemic and institutionalized mistreatment of women in the workplace, perpetuating gender-based discrimination, bias, and inequality. This exploitation manifests in various forms, including unequal pay, limited career advancement opportunities, and unfair treatment, resulting in a lack of motivation, reduced productivity, and high turnover rates. Female employees are often subjected to gender stereotyping, harassment, and bullying, creating a hostile work environment that undermines their well-being and dignity. Moreover, they are frequently expected to perform emotional labor, managing their emotions to meet organizational expectations, while their male counterparts are often excused from similar responsibilities. This exploitation is deeply ingrained in organizational cultures, perpetuating gender inequality and limiting women’s potential (Idoghor, and Okechukwu, 2022).

Female employee exploitation encompasses the pervasive and insidious practices that undermine women’s autonomy, agency, and dignity in the workplace. It involves the manipulation and coercion of female employees, forcing them to compromise their values, boundaries, and aspirations to conform to organizational expectations. This exploitation can take many forms, including sexual harassment, unequal pay, and limited opportunities for career advancement, all of which perpetuate gender-based discrimination and bias. Female employees are often expected to perform unpaid emotional labor, managing their emotions to maintain a positive work environment, while their male colleagues are free to express themselves without consequence. This exploitation is perpetuated by organizational cultures that prioritise profit over people, ignoring the well-being and dignity of female employees (Awwad, Binsaddig, Kanan, and Al-Shirawi, 2023).

Female employee exploitation is a complex and multifaceted phenomenon that permeates every aspect of organizational life. It involves the exploitation of women’s labor, skills, and experiences, often without recognition or compensation. Female employees are frequently subjected to gender-based violence, harassment, and discrimination, creating a toxic work environment that undermines their physical and mental health. Moreover, they are often denied opportunities for career advancement, forced to take on unpaid care work, and expected to conform to gender stereotypes that limit their potential. This exploitation is perpetuated by organizational cultures that prioritize masculinity and profit over femininity and people, perpetuating gender inequality and limiting women’s contributions (Jaiyeola, and Adeyeye, 2021).

Female employee exploitation refers to the systemic and structural processes that perpetuate gender-based discrimination, bias, and inequality in the workplace. It involves the exploitation of women’s bodies, minds, and emotions, often without their consent or compensation. Female employees are frequently subjected to sexual harassment, unequal pay, and limited opportunities for career advancement, all of which perpetuate gender-based discrimination and bias. Moreover, they are often expected to perform emotional labor, managing their emotions to maintain a positive work environment, while their male colleagues are free to express themselves without consequence. This exploitation is perpetuated by organizational cultures that prioritize profit over people, ignoring the well-being and dignity of female employees. It is a pervasive and insidious practice that undermines women’s autonomy, agency, and dignity, limiting their potential and contributions (Muogbo, 2020).

Objectification

Objectification is the to the process of reducing female employees to mere objects or commodities, stripping them of their agency, autonomy, and individuality. This occurs when women are valued solely for their physical appearance, sexualized, and treated as objects of desire, rather than as professionals with skills and expertise. In the financial sector, objectification can manifest in the sexualization of female employees in marketing materials, the expectation for women to conform to unrealistic beauty standards, and the perpetuation of gender stereotypes that limit their career advancement opportunities. Objectification creates a toxic work environment, where women are seen as objects to be exploited, rather than as valued employees deserving of respect and dignity (Stankiewicz, Julie, Rosselli, and Francine, 2021).

Objectification involves the treatment of women as mere instruments for achieving financial goals, rather than as human beings with inherent value and worth. This occurs when female employees are seen as mere tools for generating profits, without consideration for their well-being, dignity, or career aspirations. In the financial sector, objectification can manifest in the exploitation of women’s labor, skills, and experiences without recognition or compensation, the denial of opportunities for career advancement, and the perpetuation of gender-based discrimination and bias. Objectification perpetuates a culture of exploitation, where women are seen as means to an end, rather than as ends in themselves (Kang, 2021).

Objectification is the the treatment of women as fungible and interchangeable, rather than as unique individuals with distinct experiences, perspectives, and contributions. This occurs when female employees are seen as mere cogs in a machine, without consideration for their individuality, creativity, or innovation. In the financial sector, objectification can manifest in the perpetuation of gender-based discrimination, bias, and stereotyping, the denial of opportunities for career advancement, and the exploitation of women’s labor and skills without recognition or compensation. Objectification perpetuates a culture of dehumanization, where women are seen as mere objects, rather than as human beings deserving of respect, dignity, and recognition (Ogundana, Simba, Dana, & Liguori, 2021).

Gender-based Discrimination

Gender-based discrimination is the systemic and institutionalized bias and prejudice against individuals based on their gender, perpetuating unequal treatment, opportunities, and outcomes. This discrimination manifests in various forms, including unequal pay, limited career advancement opportunities, and unfair treatment, creating a hostile work environment that undermines the well-being and dignity of female employees. In the financial sector, gender-based discrimination can manifest in the perpetuation of gender stereotypes, bias in performance evaluations, and unequal access to resources and opportunities, limiting women’s potential and contributions. This discrimination perpetuates gender inequality, limiting women’s economic empowerment and perpetuating the gender gap in financial institutions (Burnette, & Stanfors, 2020).

Gender-based discrimination involves the perpetuation of harmful gender stereotypes, biases, and prejudices, creating a toxic work environment that marginalizes and excludes women. This discrimination can manifest in the assumption that men are more competent and capable than women, perpetuating gender-based bias in hiring, promotion, and opportunities for career advancement. In the financial sector, gender-based discrimination can manifest in the lack of representation of women in leadership positions, the perpetuation of gender-based violence and harassment, and the tolerance of discriminatory practices and behaviors. This discrimination perpetuates a culture of sexism and misogyny, limiting women’s potential and perpetuating gender inequality in financial institutions (Nnabuife, Ndubuisi-Okolo, & Friday, 2023).

Gender-based discrimination refers to the denial of equal opportunities, rights, and privileges based on gender, perpetuating inequality and marginalization. This discrimination can manifest in the lack of access to credit, loans, and other financial services for women, limiting their economic empowerment and perpetuating the gender gap. In the financial sector, gender-based discrimination can manifest in the perpetuation of gender-based bias in lending, investing, and financial decision-making, limiting women’s access to capital and resources. This discrimination perpetuates gender inequality, limiting women’s economic potential and perpetuating the gender gap in financial institutions (Muogbo, 2020).

Corporate Longevity

Corporate longevity is the ability of an organization to sustain its operations, growth, and profitability over an extended period, while maintaining its reputation, trust, and loyalty among customers, employees, and stakeholders. This longevity is achieved through a combination of factors, including effective leadership, strategic planning, innovation, risk management, and adaptation to changing market conditions. In the financial sector, corporate longevity is critical, as it enables institutions to weather financial crises, maintain stability, and provide long-term value to customers and shareholders. Long-lived financial institutions are better equipped to build strong relationships, invest in their communities, and contribute to economic growth and development (Bansal, 2021).

Corporate longevity involves the capacity to endure and thrive through various economic cycles, regulatory changes, and technological disruptions. It requires a long-term perspective, a commitment to sustainability, and a willingness to invest in people, processes, and technology. Financial institutions that achieve corporate longevity are able to maintain their competitive edge, innovate continuously, and manage risk effectively. They also prioritize the development of their employees, foster a culture of excellence, and prioritize the needs of their customers and communities. By doing so, they build trust, loyalty, and a reputation for stability and reliability, which are essential for long-term success in the financial sector (Adetiloye, Adegboye, & Akinjare, 2020).

Corporate longevity means the ability of an organisation to maintain its relevance, impact, and leadership position over an extended period. This is achieved through a combination of innovation, adaptation, and transformation, as well as a commitment to excellence, quality, and customer satisfaction. In the financial sector, corporate longevity is critical, as it enables institutions to stay ahead of the curve, anticipate changes in the market, and respond to emerging opportunities and challenges. Long-lived financial institutions are better equipped to navigate complex regulatory environments, manage risk effectively, and maintain their competitive edge in a rapidly changing market (Montiel, & Delgado-Ceballos, 2024).

Job Satisfaction

Job satisfaction means the positive emotional state resulting from an individual’s evaluation of their job experiences, including their perceptions of their role, responsibilities, and work environment. It is a multifaceted concept that encompasses various aspects, such as compensation, benefits, job security, opportunities for growth and development, work-life balance, and the sense of purpose and fulfillment derived from one’s work. In the financial sector, job satisfaction is critical, as it directly impacts employee motivation, productivity, and retention, ultimately influencing the quality of service provided to customers and the overall performance of the institution. Financial institutions that prioritize job satisfaction create a positive work environment, foster a culture of engagement and inclusivity, and encourage employee growth and development, leading to improved job satisfaction and overall well-being (Thompson, & Phua, 2022).

Job satisfaction involves the feeling of contentment, happiness, and fulfillment that comes from achieving one’s goals, meeting expectations, and making meaningful contributions to the organization. It is influenced by various factors, including the nature of the work, the work environment, supervision, compensation, and opportunities for advancement. In the financial sector, job satisfaction is essential, as it directly impacts employee turnover, absenteeism, and performance. Financial institutions that prioritize job satisfaction recognize the importance of creating a supportive work environment, providing opportunities for growth and development, and fostering a culture of recognition and appreciation, leading to increased job satisfaction and improved overall well-being (Moorman, 2023).

Job satisfaction refers to the degree to which employees feel valued, respected, and supported in their roles, leading to a sense of engagement, motivation, and commitment to the organization. It is influenced by various factors, including leadership, communication, teamwork, and the sense of purpose and meaning derived from one’s work. In the financial sector, job satisfaction is critical, as it directly impacts employee retention, productivity, and customer satisfaction. Financial institutions that prioritize job satisfaction create a positive work environment, foster a culture of inclusivity and respect, and encourage employee growth and development, leading to improved job satisfaction and overall well-being (Lindner, 2020).

Organisational Expansion

Organisational expansion is the strategic growth and development of the organization, encompassing various aspects such as increased market share, geographical reach, product offerings, and employee base. This expansion is achieved through a combination of organic growth, mergers and acquisitions, partnerships, and strategic alliances. In the financial sector, organizational expansion is critical, as it enables institutions to diversify their revenue streams, increase their competitiveness, and better serve their customers. Financial institutions that undergo successful organizational expansion are able to leverage their increased resources and capabilities to innovate, invest in technology, and enhance their risk management practices, ultimately leading to improved financial performance and sustainability (Dunlop, & Scheepers, 2023).

Organisational expansion is the process of scaling up operations, capabilities, and infrastructure to support business growth and development. This includes expanding into new markets, introducing new products and services, and upgrading technology and systems to support increased transaction volumes and complexity. In the financial sector, organizational expansion is essential, as it enables institutions to stay competitive, improve efficiency, and reduce costs. Financial institutions that undergo successful organizational expansion are able to attract and retain top talent, foster a culture of innovation and entrepreneurship, and enhance their reputation and brand, ultimately leading to increased customer loyalty and retention (Grimm, Hofstetter, & Sarkis, 2020).

Organisational expansion is the deliberate and strategic efforts to increase the institution’s size, scope, and influence, while maintaining its core values, mission, and vision. This expansion is achieved through a combination of internal development, strategic partnerships, and external growth initiatives, such as acquisitions and mergers. In the financial sector, organizational expansion is critical, as it enables institutions to build scale, increase their bargaining power, and better manage risk. Financial institutions that undergo successful organizational expansion are able to leverage their increased resources and capabilities to invest in research and development, enhance their digital capabilities, and improve their overall customer experience (Ojediran, & Anderson, 2020).

Conceptual Framework

This is a visual, diagrammatic or graphical representation of the research model, illustrating the interconnections and interrelationships between the variables, concepts, and theories. The conceptual framework is developed through a thorough review of the literature, careful consideration of the research questions, and a deep understanding of the research context. It is a dynamic and iterative process, refined and modified as the research progresses.

Source: Researcher’s Compilation, 2024

Theoretical Framework

This study was anchored on Resource-Based View (RBV) theory, by Jay Barney in 1991. It states that a firm’s resources and capabilities are the primary sources of competitive advantage and sustainable business performance. Key aspects of the RBV theory include: Resources and capabilities, competence and capabilities of the firm, internal resources for strategy formulation and implementation, innovations and entrepreneurship, competitive advantage and sustainable business performance, leadership positions within industries. The RBV theory is relevant to the present study because it provides a valuable framework for understanding how small businesses can leverage their unique resources and capabilities to achieve sustainable competitive advantage, create value, and contribute to sustainable development, by identifying and utilizing their strengths, exploiting opportunities, and mitigating weaknesses and threats, thereby enabling them to innovate, adapt, and thrive in dynamic environments, while also contributing to the well-being of society and the environment, which is essential for achieving sustainable development goals.

Empirical Studies

Ejededawe (2024) examined perception of sexual objectification in advertising campaigns among Benin residents, Nigeria. The study was anchored on Objective Theory and Social Judgement Theory: A Survey research design was adopted with a sample size of 400, and a questionnaire as the primary data collection instrument. 400 copies of the designed questionnaires were distributed, representing a useful rate of 100% through three stages using the simple random, stratified and simple sampling procedure. Findings from the analysis of the data gathered showed that there is a notable prevalence of sexual objectification in advertising campaigns among Benin residents

Nnabuife, Ndubuisi-Okolo, and Friday (2023) ascertained gender discrimination and organisational performance in public Hospitals in Abia State, Nigeria. The research design employed is a quantitative approach, and data was collected using a structured questionnaire. The total population used for this study is 3,220 and the study adopted Taro Yamane formula to determine the sample size of 356. The sample size consisted of employees working in public hospitals in Abia State. Data was analysed using descriptive statistics and hypotheses was tested using Pearson Product Moment Correlation. The findings revealed that gender discrimination negatively affects organisational performance, leading to decreased operational efficiency, lower customer satisfaction, and reduced corporate prestige. Therefore, the study recommended that gender discrimination in the workplace needs to be addressed to enhance organizational performance.

Awwad, Binsaddig, Kanan, and Shirawi (2023) determined women on boards: an empirical study on the effects on financial performance and corporate social responsibility in Palestine. The purpose of this study was to investigate whether there is a relationship between women’s presence on boards of directors and companies’ financial performance and corporate social responsibility (CSR) disclosure and, if so, whether this relationship is positive, negative or neutral. The research sample included 47 companies listed on the Palestine Stock Exchange from 2010 to 2020. Panel regression analysis was used to examine the study’s hypothesis and achieve the study’s objectives. Findings revealed that the presence of women on the board of directors positively affects a company’s financial performance and disclosure of CSR. However, measuring the CSR disclosure sub-components separately showed a decrease in the disclosure index towards both the environment and employees. Moreover, the level of female representation on the boards of directors of the Palestinian companies studied is generally low.

Dunlop, and Scheepers (2023) examined the influence of female agentic and communal leadership on work engagement: vigour, dedication and absorption in South Africa. The purpose of this study was to investigate the influence of leadership on work engagement. A quantitative study was undertaken by applying purposive non-probability sampling and using an online survey with screening questions to ensure the respondent reported to a senior female manager. The survey consisted of reliable and valid Likert scales: agentic and communal leadership styles were assessed using the Agency-Communion-Inventory (AC-IN) scale with 20 questions and the Utrecht Work Engagement Scale (UWES-9) with three sub-scales: vigour, dedication and absorption. The 153 usable responses in this study were used to conduct validity and reliability tests and to apply multiple regression to test associations. Both agentic and communal leadership have a positive impact on work engagement when exhibited by a female. Although agentic leadership had an influence on all the elements of work engagement, communal leadership had a far stronger impact.

Gap in Literature

There exists methodological gap, variable gap, industry gap, geographical gap, and periodic gap. There is limited research on the present study. From the reviewed studies, the methodologies, variables, industries, location and time are different from that of the present study. Therefore, this study sought to bridge these gaps.

METHODOLOGY

This study adopted descriptive survey research design because it helps to gather detailed information about the target population’s characteristics and opinions. It adopted primary source of data and secondary source of information, so as to triangulate data and ensure validity by combining original data collection with existing research. The study employed convenience non-probability sampling technique, so as to quickly and easily access a subset of the target population, given time and resource constraints. The target population are 253 female staff of financial institutions in the two major senatorial zones of Imo State, Nigeria, namely, Owerri, and Orlu zones, this was chosen so as focus on a specific demographic and geographic region, allowing for more in-depth analysis. Taro Yamane’s method was used to get a sample size of 155, this method was chosen in order to determine a statistically sufficient sample size, ensuring reliable results while minimizing costs. Hypotheses were tested with Pearson Product Moment Correlation Coefficient on Statistical Packages for Social Science (SPSS version 27) at 5% level of significance. This helps to examine relationships between variables and test hypotheses using a widely accepted statistical method, with a standard level of significance.

RESULTS AND DISCUSSION

Hypotheses Testing

Decision Rule: Reject the null hypothesis and accept the alternate if P-value < 0.05; if otherwise, accept the null Hypothesis.

Hypothesis One

Table 1: Ho: There is no statistically significant relationship between objectification and job satisfaction of financial institutions in Imo State, Nigeria.

Ha: There is a statistically significant relationship between objectification and job satisfaction of financial institutions in Imo State, Nigeria.

Correlations

Source: The Researcher, 2024.

Discussion of Finding

Table 1 showed that there was a statistically significant negative relationship between objectification and job satisfaction of financial institutions in Imo State, Nigeria, with r = -0.312, n = 155 and p value of 0.000 (p<0.05). Therefore, the study accepted the alternate hypothesis and concluded that there was a statistically significant negative relationship between objectification and job satisfaction of financial institutions in Imo State, Nigeria. This finding is in line with the result of Ejededawe (2024) in the study on perception of sexual objectification in advertising campaigns among Benin residents, Nigeria.

Implication: When employees, particularly women, are objectified or reduced to their physical appearance, it leads to a significant decrease in their job satisfaction. This can result in decreased productivity, increased turnover rates, and a toxic work environment.

Hypothesis Two

Table 2: Ho: There is no statistically significant correlation that exists between gender discrimination and organisational expansion of financial institutions in Imo State, Nigeria.

Ha: There is a statistically significant correlation that exists between gender discrimination and organisational expansion of financial institutions in Imo State, Nigeria.

Correlations

Source: The Researcher, 2024.

Discussion of Finding

Table 2 showed that there was a statistically significant negative correlation that exists between gender discrimination and organisational expansion of financial institutions in Imo State, Nigeria, with r = -0.249, n = 155 and p value of 0.002 (p<0.05). Therefore, the study accepted the alternate hypothesis and concluded that there was a statistically significant negative correlation that exists between gender discrimination and organisational expansion of financial institutions in Imo State, Nigeria. This result is in tandem with the result of Nnabuife, Ndubuisi-Okolo, and Friday (2023) in the study on gender discrimination and organisational performance in public Hospitals in Abia State, Nigeria.

Implication: Financial institutions that perpetuate gender discrimination are likely to experience stunted growth, reduced market share, and decreased competitiveness, ultimately hindering their ability to expand and thrive. Conversely, institutions that foster inclusive cultures, address gender biases, and promote equal opportunities are more likely to experience rapid growth, increased innovation, and enhanced reputation, leading to successful expansion and long-term success.

CONCLUSION

This study concluded that there was a statistically significant negative relationship between female employee exploitation and corporate longevity of financial institutions in Imo State, Nigeria.

RECOMMENDATIONS

The study recommends that:

1. Financial institutions in Imo State need to prioritise creating a work culture that values and respects employees’ autonomy, dignity, and individuality, providing training on objectification and harassment, and implementing policies that promote inclusivity and equity. By doing so, they can foster a positive work environment that promotes job satisfaction, employee retention, and overall organisational success.
2. Financial institutions in Imo State need to recognise the imperative of gender equality and take proactive steps to address discrimination, create inclusive environments, and leverage diversity to drive business expansion.

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