Organizational Spirituality and Corporate Sustainability

This study explores the relationship between organizational spirituality and corporate sustainability within the Sri Lankan context and in a relatively unexamined area. Although organizational spirituality is increasingly relevant, many organizations hesitate to integrate it. This paper addresses the ways to incorporate spirituality into organizations and its implications for environmental, social, and economic sustainability. The COVID-19 pandemic has heightened the relevance of organizational spirituality, particularly in the face of bankruptcy and sustainability challenges. A quantitative approach was employed, with data collected via Google questionnaires from management-level employees (HR managers, CEOs, HR executives, etc.) across Sri Lanka’s banking, insurance, and diversified finance sectors. The analysis covered 61 companies, with organizational spirituality as the independent variable as well as economic, social, and environmental sustainability as the dependent variables. Data analysis was conducted using descriptive statistics, frequency analysis, and the Partial Least Squares (PLS) regression model analysis via SMART PLS 4.0. The findings reveal a significant positive relationship between organizational spirituality and corporate sustainability, indicating that higher levels of organizational spirituality positively impact economic, social, and environmental sustainability. Theoretical implications include contributions to stakeholder theory development, while practical implications suggest that company owners can leverage this relationship to enhance economic conditions. Policymakers can also use these insights to guide policy development and implementation in Sri Lanka.