The Effect of Remote Work, Institution Efficiency, and Work Management on the Competitiveness of the Saudi Finance Institutions

Remote work as a new working pattern is considered of high importance in determining the competitiveness of the institutions that adopt this form of work. This study attempts to examine the effect of three explanatory variables: remote work, institutional efficiency, and work management on the competitiveness of finance institutions in Saudi Arabia. To collect the primary data, a survey is conducted on a stratified random sample that comprised 1270 respondents. The sample covers the three finance sector segments: banks, insurance, and finance companies. Correlation analyses, one-sample t-tests, and multi-regression analyses are applied to analyze the data. The results of the study showed that there is a positive significant relationship between the three explanatory variables of the study and institutional competitiveness. Besides, the regression model revealed that the two explanatory variables; remote work and institution efficiency are statistically significant at 95% confidence intervals, while work management is not statistically significant. The study recommends promoting remote work to increase the finance institution’s competitiveness by restructuring the work policies, designing work strategies, and introducing a new management system compatible with remote work.