Experiencing organisational change in Greece: the impact of psychological contract, job satisfaction and organisational commitment on employees' EVLN behaviour

In 2007, the global economy was shaken by the financial crisis which started from the US. Among the countries which have been adversely affected is Greece. Since 2010, due to the unprecedented Greek debt crisis and the subsequent recession, the domestic economy has been struggling against bankruptcy. In response to the political pressures from the IMF, the EC and the European Central Bank, as the country had to fulfil its commitments to its borrowers; and aiming to safeguard domestic financial stability, the Greek banking sector has undergone a momentous structural transformation through a series of organisational changes. This paper examines employees' behavioural responses using three predictor variables namely, organisational commitment, job satisfaction and psychological contract breach. By establishing a better understanding of Greek bank employees' psyche and their behavioural responses towards organisational change, these findings can assist executives and policy makers in the area of reforms, to identify effective ways to retain employees, keep them engaged and improve their performance in times of crises.