Abstract:
Employees are the most valuable asset in the insurance sector, and employee
satisfaction is a crucial driver to achieving the performance of an organization.
High employee engagement leads to increased job satisfaction, performance, and
employee retention and reflects positive overall employee engagement.
Scholarly findings have been made in other industries in other countries but are
limited to the insurance industry of Sri Lanka. The main empirical gap leads to
the study of the impact of employee engagement and internal brand equity. The
study focuses on understanding how internal branding is important to the
service sector as it directly affects competitiveness. The researcher has taken
four employee engagement independent variables of internal communication,
training, brand knowledge and leadership and internal brand equity as
dependent variables. The 385 samples were selected through the Morgan table
out of a total employee of 11,677 in the insurance industry. The reliability and
validity tests proved the balance of responses, and Descriptive analysis,
correlation analysis, multiple regression, and normality tests were performed to
analyze the data through SPSS software. A structured questionnaire was used to
get responses from employees. Findings reveal that internal communication,
brand knowledge, training and leadership have a significant impact on internal
brand equity in the Sri Lankan insurance industry. Out of four variables,
leadership plays a pivotal role in impacting the internal brand equity of insurance
firms in Sri Lanka. The findings proved that employee engagement is key for the
improvement of brand equity of insurance firms where guidance is given for
management to critically focus on the above aspect. The enhancements of
communication strategies, training metho
