University of Phoenix College of Doctoral Studies Releases White Paper on Role of Psychological Capital in Employee Retention
August 24 2024 - 8:00AM
Business Wire
Dr. Joy Taylor reviews findings from 2024
Career Optimism Index to highlight how hope, efficacy, resilience
and optimism function as psychological capital contributing to
workforce retention
University of Phoenix College of Doctoral Studies releases a new
white paper, “Psychological Capital: Impact of Hope, Efficacy,
Resilience, and Optimism on Employee Retention,” authored by Joy
Taylor, Ed.D., associate faculty at the College and senior research
fellow in the Center for Workplace Diversity and Inclusion Research
(CWDIR). The white paper focuses on key findings from the
University of Phoenix Career Institute® 2024 Career Optimism Index®
study to highlight how hope, efficacy, resilience and optimism
function as psychological capital contributing to retention of the
workforce.
Over subsequent years, the Career Optimism Index findings
demonstrate a disconnect between employer and worker mindset
regarding opportunities for advancement: in the 2024 study, 90% of
employers in the survey felt their company provided workers with
opportunities for advancement, compared to 69% of workers with the
same impression.
“Hope, efficacy, resilience, and optimism are not passive
behavioral traits. They are open to development and can readily
adapt and respond to relatively short training interventions,”
states Taylor. “There is an opportunity for employers who have a
clear understanding of what drives career hope, efficacy,
resilience, and optimism to address employee needs.”
The white paper highlights how psychological capital elements of
hope, efficacy, resilience and optimism are portrayed through the
Index findings and can help to promote positive thinking patterns.
“These traits can be developed when employers intentionally provide
proven support in the form of role models and mentors, professional
development based on employee interests and priorities, building
self-sufficient teams with adaptable leaders, investing in current
and future talent and culture, and dynamic decision-making,” Taylor
urges.
Taylor is an associate faculty of the College of Doctoral
Studies at University of Phoenix and a former classroom teacher,
school principal, and district administrator with nearly forty
years of experience in K-12 education, who has worked with a wide
range of school improvement stakeholders. A first-generation
college graduate, Taylor fully embraces the role education,
mentoring and strong relationships play in navigating a path to
success in the world of public education. She earned her doctorate
in Educational Leadership and Administration at Nova Southeastern
University, and a master's in Educational Leadership and a
bachelor’s degree in Elementary Education at the University of
Central Florida. Taylor is co-recipient of the inaugural University
of Phoenix President’s Award for Excellence in Diversity, Equity,
Inclusion, and Belonging Research.
The full white paper is available on the Research Hub or as a
direct link here.
About University of Phoenix
University of Phoenix innovates to help working adults enhance
their careers and develop skills in a rapidly changing world.
Flexible schedules, relevant courses, interactive learning,
skills-mapped curriculum for our bachelor’s and master’s degree
programs and a Career Services for Life® commitment help students
more effectively pursue career and personal aspirations while
balancing their busy lives. For more information, visit
phoenix.edu.
About the College of Doctoral Studies
University of Phoenix’s College of Doctoral Studies focuses on
today’s challenging business and organizational needs, from
addressing critical social issues to developing solutions to
accelerate community building and industry growth. The College’s
research program is built around the Scholar, Practitioner, Leader
Model which puts students in the center of the Doctoral Education
Ecosystem® with experts, resources and tools to help prepare them
to be a leader in their organization, industry and community.
Through this program, students and researchers work with
organizations to conduct research that can be applied in the
workplace in real time.
About the Career Optimism Index®
The Career Optimism Index® study is one of the most
comprehensive studies of Americans' personal career perceptions to
date. The University of Phoenix Career Institute® conducts this
research annually to provide insights on current workforce trends
and to help identify solutions to support and advance American
careers and create equity in the workplace. For the fourth annual
study, fielded between December 5, 2023-January 2, 2024, surveyed
more than 5,000 U.S. adults who either currently work or wish to be
working on how they feel about their careers at this moment in
time, including their concerns, their challenges, and the degree to
which they are optimistic about their careers. The study was
conducted among a nationally representative, sample of U.S. adults
and includes additional analysis of the workforce in the top twenty
DMA markets across the country to uncover geographic nuances. The
study also explores insights from 501 U.S. employers to provide
comparison between the workforce and those who hire, train, and
retain them. Additionally, for the first time, a statistical
modeling analysis was conducted to illustrate how employers and
employees can benefit financially from investing in career
optimism.
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Sharla Hooper University of Phoenix
sharla.hooper@phoenix.edu