The role of psychological capital and meaningful work in enhancing well-being

Orientation: Physicians in developing countries are exposed to high stressors that seriously affect their well-being and work performance. Psychological capital (PsyCap) and meaningful work might be utilised to counter such adversities. Research purpose: This study aims to identify the most suitable psychological well-being model for physicians to manage the high work demands of their profession. Motivation for the study: With rising burnout among health professionals, there is an urgent need for Human Resource Management (HRM)-driven strategies to enhance employee well-being and sustain organisational effectiveness. By providing evidence-based insights, this research aims to inform HR practices that foster a healthier, more motivated workforce while improving overall organisational performance. Research approach/design and method: Quantitative data were collected from 315 Indonesian physicians using three validated tools. This study employed scaling for data collection and utilised structural equation modelling (SEM) for data analysis. Main findings: This study found that psychological capital positively influences both meaningful work and psychological well-being among physicians. Psychological capital emerged as the strongest predictor in the model, with its influence on well-being partially mediated by meaningful work. However, meaningful work showed a negative association with well-being, indicating that in high-stress settings, it may also act as a psychological burden. Practical/managerial implications: By integrating PsyCap development and meaningful work strategies, HRM can create a supportive and fulfilling work environment, ultimately improving employee well-being, productivity and retention. Contribution/value-add: By highlighting the role of PsyCap and meaningful work, this research provides valuable insights for organisations seeking to cultivate a motivated, fulfilled and high-performing workforce.