The impact of digital technologies on employees’ mental health and wellbeing in financial services in South Africa

Abstract

This study aimed to examine the influence of digital technologies on the mental health and wellbeing of employees within South African financial services organisations. The research framework was rooted in the Unified Theory of Acceptance and Use of Technology (UTAUT). The aim was to identify the influencing factors of adoption and the usage associated with digital technologies and analyse the implications of the digital technologies for employees' mental health and wellbeing in the context of the financial services sector in South Africa. A quantitative methodology was employed, sampling employees from financial services organisations in South Africa. A convenience sampling approach was utilised, resulting in a final sample size of 174 respondents. The data collection process involved the administration of an online survey questionnaire. To analyse the gathered data and test formulated hypotheses, Confirmatory Factor Analysis (CFA) and Structural Equation Modelling (SEM) were employed. Results of the study were consistent with the predictions of the UTAUT framework, indicating that performance expectancy, facilitating conditions, hedonic motivation, and social influence were the significant drivers of acceptance of digital technologies among users in financial services organisations. Furthermore, the study revealed significant positive correlations between the acceptance of digital technologies and both employee mental health and wellbeing. This signifies the interconnected nature of technology acceptance and its impact on employee outcomes. This study contributes to the existing knowledge by shedding light on the relationship between digital technologies, employee mental health, and wellbeing within the financial services sector in South Africa. The findings emphasise the importance of considering the multifaceted effects of technology on employees, urging organisations to recognise and address the implications for mental health and overall wellbeing in the workplace.