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Psychological Capital (PsyCap)
Transcript of Psychological Capital (PsyCap)
Obtain an understanding of what Psychological Capital is and how it pertains to the field of Positive Psychology
Be able to define the four core components of PsyCap and the basic functions of each
Understand why PsyCap specifically is a factor organizations can develop
Understand how the Conservation of Resources (COR) theory and/or Broaden and Build theory relate to PsyCap
Understand basic steps in developing PsyCap in an organization
Be able to identify organizational outcomes of PsyCap (i.e. effect on well-being, job satisfaction, and performance)
History/Background Psychological Capital
Hope- Sense of agency and pathways
Efficacy- Conviction of abilities to get the job done
Resilience- Ability to bounce back from adversity
Optimism- explanation of events
"The inventory, the value of my company, walks out of the door every evening." ~ Bill Gates
Seligman's 1998 APA Address- Forthcoming of Positive Psychology
PsyCap as a positive state of development
Positive Organizational Behavior (POB)
Various Types of Capital
Conservation of Resource Theory (COR)
Antecedent= COR, Behavior= PsyCap, Consequence= Well-Being
Broaden and Build Theory
PsyCap as State-Like
PsyCap can be invested in and managed
State-Like tendencies allow for development
Lasts only a few hours for little cost with lasting effects
High Order construct, best represented by all four, not individually
Various micro-interventions for each component
Momentary and fixed vs. malleable and long lasting
Set and Clarify organizational and personal goals that are specific and challenging
Stepping methods to break down goals
Develop alternative pathways
Acknowledge enjoyment in the process
Mastery experiences or performance attainments
Vicarious experiences or modeling
Physiological and psychological arousal
Know when to use alternative pathways
"Re-goal" to avoid false hope
Identify self-defeating beliefs when faced with a challenge
Evaluate the accuracy of beliefs
Once dysfunctional beliefs are discounted, replace with constructing and accurate beliefs
Outcomes of PsyCap
Higher retention rates
Increased org. commitment
Less stress symptoms
Fewer intentions to quit
Fewer job searching behaviors
Better customer service
Higher levels of well-being
Now you know all about PsyCap!
Four core components & basic functions
Why organizations should and can develop PsyCap
Admin. (2013). Human capital management: What is the best human
capital management software. Retrieved from http://bestprojectmanagementsoftwarereview.com/human-capital-management-what-is-the-best-human-capital-management-software/
DeCenzo, D. A., & Robbins, S. P. (2009).
Fundamentals of human resource management. (10th ed. ed.). Hoboken, NJ: Wiley.
Luthans, Psychological Capital, translated by Li Chaoping, China
Light Industry Press, 2008: 198.
Refer to Annotated Bibliography in Resource Packet
Effect model of psychological capital intervention
Avoid negative thinking traps when things go wrong
Test the accuracy of beliefs about problems and how to find solutions that work
Remain calm and focused when overwhelmed with emotion and stress