Psychological contracts: are they still relevant?

Maguire, Heather (2002) Psychological contracts: are they still relevant? Career Development International, 7 (3). pp. 167-180. ISSN 1362-0436

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Abstract

In dynamic business environments the concept of the psychological contract has altered radically. Empirical evidence from a case study conducted in one of Australia's largest banking organisations is used to illustrate how change can impact upon the psychological contract. Traditional loyalty to an organisation and continuance commitment are becoming less important as organisations pursue more transactional relationships with their employees and as employees are encouraged to pursue more self-interested 'protean' careers. The question could be asked whether, with such increased emphasis on self-serving personal and organisational strategies, the 'psychological contract' continues to provide a means of establishing effective relationships between organisations and their employees. The main conclusion is that the maintenance of such contracts still makes an important contribution to organisational relationships but that organisations need to seek ways of adjusting the terms of the psychological contract to meet the needs of an increasingly mobile and protean workforce.

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Item Type:	Article (Commonwealth Reporting Category C)
Refereed:	Yes
Item Status:	Live Archive
Additional Information:	Deposited in accordance with the copyright policy of the publisher.
Faculty / Department / School:	Historic - Faculty of Business - Department of Management and Organisational Behaviour
Date Deposited:	18 Jan 2008 01:36
Last Modified:	11 Jun 2014 05:34
Uncontrolled Keywords:	psychology; contracts; banking; case studies
Fields of Research :	15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150311 Organisational Behaviour 17 Psychology and Cognitive Sciences > 1701 Psychology > 170107 Industrial and Organisational Psychology 15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150305 Human Resources Management
Socio-Economic Objective:	B Economic Development > 91 Economic Framework > 9102 Microeconomics > 910202 Human Capital Issues
Identification Number or DOI:	10.1108/13620430210414856
URI:	http://eprints.usq.edu.au/id/eprint/3750

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