Power of Workplace Spirituality Dimension for Enhancing Performance in Small and Medium Enterprises

Abstract

This study with the intention, to find solutions for the survival of small and medium enterprises (SMEs) in comparison to financially strong large organizations with advanced technology in the present competitive dynamic market with Industry 5.0 and hybrid working culture, explores relationship between dimensions of workplace spirituality on the performance of SMEs. There is limited empirical research on the SMEs' performance as compared to big organization in the Asian countries and needs survival strategies. SMEs contribute substantially to the economy. Samples were studied from the Indian SMEs. The findings established that while meaningful work and alignment with organizational values have significant positive relationship with organizational performance, the sense of community does not have a significant impact. The study provides insights that will be helpful to the stakeholders, owners and managers of SMEs, to enhance their performance and suggest the advantages for its implications, constraints, and the scope for future studies.