Perception of Psychological Ownership among Employees of Bank of Industry and Mine: A Qualitative Study

Bank employees have always been the center of attention as organizational beneficiaries involving them in organizational achievements that cause sense of ownership and Psychological Ownership. This research was a qualitative study based on the grounded theory to percept a Psychological Ownership model for the employees of the Bank of Industry and Mine. This case study consisted of 18 Bank of Industry and Mine employees. The primary themes were collected from the interviews through open coding to extract the study categories. The causal conditions were identified as organizational conditions as well as group and individual conditions. The strategies included psychological empowerment and designing a supportive reward system. The context conditions included employees trust in the organization, employees sensitivity to the organization, occupation-employee proportion, and organizational participation culture. The intervening conditions were identified as society culture, cyberspace, economic stability, and corruption. The output indicates that Psychological Ownership can lead to both positive individual and organizational behavior. To improve the employees' performance and have an influence on their attitudes and behavior, managers of the bank can modify or eliminate destructive behaviors by understanding and applying the Psychological Ownership model, and can create or improve the feeling of Psychological Ownership in order to achieve the goals of the bank.