Business model change and work satisfaction: the mediating role of personnel policies

Purpose The aim of the article is to present the impact of business model changes on work satisfaction, with particular emphasis on the mediating role of personnel policies. The literature highlights the vital importance of studying job satisfaction in the context of employee well-being and work efficiency. In examining the impact of changes in the business model on employee satisfaction in the pharmaceutical industry, it is assumed that personnel policies serve as a key mediating variable between the business model and employee satisfaction. Design/methodology/approach The study assumed the hypothesis that a change in the business model leads to changes in the personnel policies implemented in the organization, which determines total employee satisfaction and its components. In order to verify the hypothesis, statistical data collected through surveys conducted on a sample of 793 pharmacists working in Poland were used. Two structural equation models (SEM) were used to analyze the collected empirical data. In the first model, the dependent variable is the level of job satisfaction, while the independent variable is the change in the business model of running a pharmacy, which affects the change in personnel policies, which in turn affects the level of total job satisfaction. The second model describes the impact of changing the business model on personnel policies, which affects satisfaction with job content, work organization, working conditions, personnel development, interpersonal relations and remuneration. Findings The results of the SEM model estimations indicate a significant impact of business model changes on changes in human resource policies in pharmacies. The model in which the dependent variable is total job satisfaction demonstrates a significant and positive impact of personnel policies on work satisfaction, confirming their mediating role. The second model estimated shows a significant and positive impact of changes in personnel policies on the various components of work satisfaction. The conducted empirical research highlights the significant role of personnel policies as a mediator between changes in the business model and work satisfaction in the pharmaceutical industry. The study also emphasizes the significance of personnel policies as an adaptive tool for employees in response to organizational changes. Originality/value This article discusses the impact of changes in business activity in a specific market – pharmaceutical retailing – on pharmacists' work satisfaction. This adds value, as does the demonstration of the mediating role of personnel policies in the process of the impact of business model changes on overall job satisfaction and its components.