Journal of Economic Management and Accounting Volume 1 Number 1 April 2026 Published online: January 07, 2026 e-ISSN: 3123-8599.
p-ISSN: 3123-8564, p 1-14 DOI: https://doi.
org/10.
70375/jema.
Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry Chelvia Anggreini1.
Mohamad Sodikin2*.
Ginanjar Suendro3 email1: chelviaanggreini5@gmail.
com, email2: sodikinmohamad73@gmail.
com, email3:
gsuendro@gmail.
1,2,3
Sekolah Tinggi Ilmu Ekonomi Cendekia Karya Utama.
Semarang.
Indonesia Jl.
Tegalsari Raya No.
102 Semarang.
Indonesia Correspondence Author's: sodikinmohamad73@gmail.
Abstract.
This study aims to analyze the influence of leadership style, work environment, and workload on employee performance at PT BFI Finance Indonesia Tbk.
Semarang Branch, using the Job DemandsAeResources (JDR) Theory as its underlying framework.
The JD-R model posits that employee performance and well-being depend on the balance between job demands and job resources.
The research employed a quantitative explanatory approach involving 56 employees from the Central Operation division, selected through purposive sampling.
Data were collected using a Likert-scale questionnaire and analyzed using multiple linear regression with SPSS version 21.
The results reveal that leadership style and work environment have positive and significant effects on employee performance, while workload has a significant negative effect.
The coefficient of determination (RA) of 0.
673 indicates that the three variables collectively explain 67.
of employee performance variation.
Respondents perceived that communication and support from leaders were strong, and social relations in the workplace were positive, although workload and performance targets were considered relatively high.
These findings reinforce the JD-R Theory (Bakker & Demerouti, 2.
, showing that leadership and work environment function as job resources that enhance motivation and performance, whereas excessive workload represents job demands that may hinder employee outcomes if not properly managed.
Practically, organizations in the financial services sector should maintain a balance between job demands and job resources to achieve sustainable employee performance Keywords: JD-R Theory, leadership style, work environment, workload, employee performance INTRODUCTION In todayAos highly competitive business environment, employee performance is a critical determinant of organizational success and strategic achievement (Albrecht et ,2.
Within IndonesiaAos private financing industry covering consumer, automotive, property, and business capital financing the growing demands for productivity, efficiency, and regulatory compliance have intensified (Sibuea, 2.
The rapid pace of digital transformation and the constant pressure to meet sales targets require organizations to maintain a balance between job demands and available resources to sustain employee engagement and performance (Montani et al.
, 2.
This study employs the Job DemandsAeResources (JD-R) Theory as its conceptual foundation.
The JD-R model posits Journal of Economic Management and Accounting VOL.
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Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry that employee performance emerges from the interaction between job demands and job resources (Bakker & Demerouti, 2.
High job demands, such as workload and administrative complexity, may lead to stress and burnout, whereas job resources, including supportive leadership and a positive work environment, foster motivation and commitment (Xanthopoulou et al.
, 2.
In the financing sector, these elements are particularly relevant due to the dual pressures of sales targets and regulatory compliance.
Empirical evidence from PT BFI Finance Indonesia Tbk Semarang Branch underscores this issue: employee performance scores declined from 84 in 2022 to 78 in 2024, while cases of work delay increased from 3 to 22.
Preliminary findings revealed dissatisfaction with the physical work environment, inconsistent leadership styles, and excessive workloadsAiindicating an imbalance between job demands and resources.
Prior studies show mixed results regarding the effects of leadership style, work environment, and workload on employee performance .
Islam et al.
, 2025.
Bangwal & Tiwari, 2019.
Herdiana & Sida, 2023.
Pourteimour et al.
, 2.
These inconsistencies highlight both empirical and contextual research gaps, especially within IndonesiaAos private financing sector (Pratama & Indriyaningrum, 2022.
Riyadi et al.
, 2.
Therefore, this study aims to examine how leadership style, work environment, and workload influence employee performance within the JD-R framework, offering theoretical and practical insights for enhancing productivity and well-being in the financial services industry.
LITERATURE REVIEW
The Theory of Job DemandsAeResources (JD-R) put forward by (Bakker & Demerouti, 2007, 2017.
Schaufeli & Bakker, 2.
provide a comprehensive conceptual framework for explaining how working conditions affect employee performance.
This theory assumes that every job has two main categories: job demands and job resources.
Job demands refer to physical, psychological, social, or organizational demands that require continuous effort and have the potential to cause stress and fatigue if not balanced by adequate resources.
On the other resources are aspects of work that serve to achieve work goals, reduce job demands, and stimulate employee growth and engagement (Schaufeli et al.
, 2.
Journal of Economic Management and Accounting VOL.
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e-ISSN: 3123-8599.
p-ISSN: 3123-8564.
Pages 1-14 In the context of this study, workload is categorized as job demand, while leadership style and work environment are positioned as job resources that play a role in balancing job demands with performance outcomes.
The JD-R model explains that optimal performance can be achieved when adequate resources are able to neutralize the negative impact of high demands (Bakker & Demerouti, 2.
Thus, the interaction between leadership style, work environment, and workload is an important determinant in shaping employee performance.
1 Leadership Style as a Job Resource Leadership is one of the most crucial organizational resources that can improve performance through increased motivation, trust, and work engagement.
Leaders with a transformational style are able to inspire subordinates through shared vision, intellectual stimulation, and individual attention, which in turn improves employee performance (Judge & Piccolo, 2004.
Ng, 2.
Similarly, participatory leadership creates a sense of belonging and responsibility among employees by involving them in decision-making (Khassawneh & Elrehail, 2.
In the JD-R's perspective, a positive leadership style serves as a motivational resource that increases work engagement and commitment to the organization (Buil et al.
Conversely, authoritarian or unresponsive leadership can exacerbate work pressure and lower performance outcomes.
Based on this foundation, the first hypothesis is formulated as follows:
H1: Leadership style has a positive and significant effect on employee performance.
2 Work Environment as a Job Resource A supportive work environment whether physically, socially, or psychologically can serve as an important job resource for maintaining employee well-being and A safe, comfortable, and conducive work environment creates a positive work atmosphere that increases individual focus and motivation (Bangwal & Tiwari.
Saidi et al.
, 2.
Several studies confirm that a good work environment has a positive effect on performance through increased job satisfaction and engagement (Feriandy, 2024.
Mendonca et al.
, 2.
However, the results of previous research are not always consistent, for example (Erawati et al.
, 2019.
Lilo & Ardiansari, 2.
found that the work environment had no significant effect on performance when intrinsic motivation and leadership style played a Journal of Economic Management and Accounting VOL.
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Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry more dominant role.
Based on the JD-R theory, this condition can be explained because job resources do not always have a direct effect on performance, but can be a buffering effect against high work pressure.
Therefore, the second hypothesis is formulated as H2: The work environment has a positive and significant effect on employee 3 Workload as Job Demand On the other hand, workload is a form of job demand that requires high physical and mental effort.
When these demands exceed the individual's capabilities, work stress, emotional exhaustion, and decreased productivity will arise (Bakker & Demerouti, 2.
A number of empirical studies support the negative relationship between workload and performance, where increased workload leads to decreased work outcomes due to increased burnout (Herdiana & Sida, 2023.
Komsatun et al.
, 2021.
Velyka & Guerzoni.
However, different results were found in other studies.
For example (Pourteimour et al.
, 2021.
Pujaroh et al.
, 2024.
Sudiarditha & Margaretha, 2.
reported that workload had no significant effect on performance when a performance-based compensation system was implemented, as financial and non-financial incentives were able to neutralize the negative impact of work demands on motivation.
This suggests that the effect of workload on performance is contextual and can be moderated by other job resources such as organizational and leadership support.
Based on these results, a third hypothesis is H3: Workload has a negative and significant effect on employee performance.
4 Integration of JD-R Models in Research Contexts Overall, this study seeks to test the JD-R model in the context of financing organizations in Indonesia, by placing leadership style and work environment as job resources that strengthen employee motivation and engagement, as well as workload as job demand that has the potential to reduce performance.
Optimal performance is expected to be achieved if the balance between demands and resources can be maintained.
In the context of PT BFI Finance Indonesia Tbk Semarang Branch, this condition is very relevant considering the characteristics of the job Journal of Economic Management and Accounting VOL.
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e-ISSN: 3123-8599.
p-ISSN: 3123-8564.
Pages 1-14 that demands high targets, administrative pressure, and the need for effective leadership to maintain motivation and productivity.
Thus, the conceptual model adopted in this study confirms that Job resources .
eadership style and work environmen.
have a positive influence on employee performance.
Job demand .
has a negative influence on employee performance.
The best performance occurs when job resources are able to balance the negative impact of job demands.
The empirical model of the research is shown in the following Figure 1:
Leadership
Style
( )
Work Environment ( ) Employee Performance (-) Workload Figure 1.
Empirical model of research
RESEARCH METHODS
This study employed an explanatory quantitative approach to analyze and explain the causal relationships between leadership style, work environment, workload, and employee performance.
This approach was chosen for its ability to provide objective empirical evidence through statistical measurement (Creswell & Creswell, 2.
The research was conducted at PT BFI Finance Indonesia Tbk Semarang Branch, a major private automotive and multifinance company experiencing a decline in employee performance over the past two years.
The population consisted of 65 employees in the Central Operation section.
Using purposive sampling, 56 respondents were selected based on criteria of having at least one year of service and direct involvement in financing operations.
Data were collected through a closed-ended questionnaire using a five-point Likert scale ranging from Austrongly disagreeAy to Austrongly agree.
Ay The study measured four main constructs:
Journal of Economic Management and Accounting VOL.
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Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry leadership style, defined as the leaderAos way of influencing and motivating subordinates (Judge & Piccolo, 2.
work environment, reflecting physical and social workplace conditions (Reyne-Pugh et al.
, 2.
workload, referring to tasks and responsibilities relative to time and resources (Schaufeli & Taris, 2.
and employee performance, reflecting work quality, quantity, and responsibility (Schaufeli & Taris, 2.
Instrument validity was tested using the Pearson Product Moment, and reliability using CronbachAos Alpha, with criteria of r > 0.
30 and > 0.
70 (Cicchetti, 1.
All items met these Data analysis employed multiple linear regression with SPSS version 21, including classical assumption tests .
ormality, multicollinearity, heteroscedasticit.
, ttests for partial effects.
F-tests for simultaneous effects, and RA to measure the explanatory power of the model.
RESULTS AND DISCUSSION
1 Respondent Description This study involved 56 respondents who were employees of the Central Operation section of PT BFI Finance Indonesia Tbk Semarang Branch.
The characteristics of the respondents were categorized by gender, age, last education, and length of service, presented in Table 1 below.
Table 1.
Respondent Characteristics Characteristic Category Gender Man Woman 20Ae25 years old 26Ae30 years >30 years old High School/Vocational School 1Ae3 years Age Education Tenure Number .
Percentage (%) Journal of Economic Management and Accounting VOL.
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Pages 1-14 Characteristic Category Number .
Percentage (%) 4Ae6 years >6 years old The data in Table 1 shows that most of the respondents are 26Ae30 years old with a bachelor's degree (S.
This composition shows that the majority of employees are of productive age with a fairly good level of education, so they are expected to be able to adapt to the high work dynamics in the financing sector.
2 Test of Instrument Validity and Reliability The validity test was conducted using Pearson Product Moment correlation analysis, and the results showed that all items had a calculated r-value of > 0.
30, which means that all indicators were declared valid (Table .
Furthermore, the results of the reliability test also showed a Cronbach's Alpha value of > 0.
70 for all variables (Table .
, indicating that the instrument had a high level of internal consistency and was suitable for hypothesis testing (Cicchetti, 1.
Table 2.
Instrument Validity and Reliability Test Results Variable Leadership Style Work Environment Workload Employee Performance Number Items Range r-count Validity Status Cronbach's Alpha Status Reliability 512Ae0.
Valid Reliable 471Ae0.
Valid Reliable 503Ae0.
546Ae0.
Valid Valid Reliable Reliable Source: Primary data processed .
3 Hypothesis Test Results Data analysis was carried out using multiple linear regression with the help of SPSS The test results are shown in Table 3 below.
Table 3.
Multiple Linear Regression Test Results Influence between variables Regression t-count Coefficient () Sig.
Information Leadership Style Employee Performance 0,312 Accepted and Significant Journal of Economic Management and Accounting VOL.
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Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry Work Environment Employee Performance 0,289 Accepted and Significant Workload
Employee Performance -0,271 Accepted and Significant Constant () Ai
F-count
0,000
Ai Eligible Models Significant Source: Primary data processed .
Based on these results, the regression model can be declared feasible, with an Fcalculated value of 36.
281 and a significance of 0.
000 < 0.
This means that leadership style, work environment, and workload simultaneously have a significant impact on employee performance.
A determination coefficient value (RA) of 0.
673 indicates that 3% of employee performance variations can be strongly explained by all three independent variables (Ghozali, 2.
, while the rest are influenced by other factors outside the model.
The results of the analysis in Table 3 show that leadership style has a positive and significant effect on the performance of employees of PT BFI Finance Indonesia Tbk Semarang Branch.
This shows that the more effective the leadership style applied, the higher the employee performance.
Empirically, respondents' perceptions of leadership style indicators reinforce these results.
The communication indicator obtained the highest average score of 4.
18, followed by the motivation indicator of 4.
05, while the supervision and assertiveness indicators obtained relatively lower scores, namely 3.
62 and 3.
These findings show that employees rate their leaders as good at communicating and providing direction, but still lack decisiveness in terms of supervision and discipline This phenomenon is in line with empirical conditions in companies, where the rate of employee delays has increased significantly during 2024, indicating that although communication is going well, the leadership control function is not optimal.
According to (Ayya, 2023.
Laksmita & Perdhana, 2.
, effective leadership involves not only the ability to communicate, but also consistency in decision-making and exemplary work The results of this study also support the study (Khan et al.
, 2020.
Khassawneh & Elrehail, 2.
, which shows that transformational leadership styles improve employee Journal of Economic Management and Accounting VOL.
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Pages 1-14 motivation and performance through inspiration, recognition, and moral encouragement.
This is also in line with studies (Sodikin.
Mohamad.
Niati.
Asih.
Pratiwi, 2025.
Sodikin.
Sodikin & Fachrunnisa, 2.
that show that leaders who possess high intellectual capacity, managerial competence, and spiritual maturity will drive improved employee In the context of PT BFI Finance Indonesia Tbk Semarang Branch, a leadership style that tends to be participatory and communicative is quite effective in building work morale, but it needs to be strengthened with firmness and supervision so that discipline This also confirms the findings (Baird et al.
, 2.
, that the success of leadership in financial services organizations depends on a balance between the human approach and the control mechanism.
Thus, aspects of leadership style have an important contribution to improving performance, especially in the context of the finance industry that demands speed, responsibility, and accuracy of work results.
The results of the regression test also showed that the work environment had a positive and significant effect on employee performance.
This means that the better the working environment, the higher the employee's performance.
Based on respondents' perceptions, the indicators of the working relationship between colleagues and superiors obtained the highest score of 4.
25, followed by the indicators of safety and comfort at work of 4.
07, while the indicators of spatial planning and completeness of facilities received relatively low scores of 3.
64 and 3.
The data shows that socially, the work environment at PT BFI Finance Indonesia Tbk Semarang Branch has supported good team cooperation and communication, but physically there are still limitations in terms of space and work facilities.
This is in line with the results of pre-surveys which show that the narrow layout of the space and the distance between the desks that are too close together cause concentration disorders and decrease work effectiveness.
These findings reinforce the results of the study (Bangwal & Tiwari, 2019.
Feriandy, 2024.
Mendonca et al.
, 2020.
Saidi et al.
, 2.
which states that the physical and social work environment has a significant effect on employee performance because it can increase psychological comfort.
However, these results differ from studies (Erawati et al.
, 2019.
Lilo & Ardiansari, 2.
, which found that the work environment had no significant effect on employee performance.
These differences in results show that the influence of the work environment is highly dependent on the characteristics of the Journal of Economic Management and Accounting VOL.
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Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry industrial sector and the type of work.
In finance companies that have high administrative activities, the comfort and efficiency of the workspace have a strategic role in individual Therefore, improving employee performance in companies such as PT BFI Finance can be strengthened by improving spatial layout, the availability of ergonomic work facilities, and strengthening a collaborative work culture between employees.
The results of the study show that workload has a significant but negative effect on employee performance.
This means that the higher the workload that employees receive, the more their performance decreases.
These results are supported by respondents' perceptions, where the time pressure and work target indicators obtained the highest score of 4.
32, indicating that employees feel their workload is high and demand speed of task completion.
Meanwhile, the balance indicator between work volume and individual abilities only obtained a score of 3.
41, indicating that most employees feel their workload exceeds their ideal capacity.
These findings are in line with the results of pre-survey interviews which show that work targets often increase every period without an increase in the number of workers or adequate support systems.
These results support the study (Herdiana & Sida, 2023.
Komsatun et al.
, 2021.
Velyka & Guerzoni, 2.
which states that excessive workload causes physical and mental fatigue, as well as decreases work effectiveness.
However, the results of this study differ from the findings (Pourteimour et al.
, 2021.
Pujaroh et al.
Sudiarditha & Margaretha, 2.
which states that workload can actually improve performance when balanced with job satisfaction and good work-life balance.
These inconsistencies in results show a significant research gap, where the influence of workload on performance is highly contextual, depending on the level of complexity of the work and organizational support.
In the context of PT BFI Finance Indonesia Tbk, high workload is often associated with the achievement of financing targets and administrative pressure, which if not balanced with motivation and social support, can reduce performance.
Thus, companies need to adjust the division of labor system and performance targets to be balanced with employee capacity.
This is also in line with Job DemandsAe Resources Theory (Bakker & Demerouti, 2.
, which explains that optimal performance is achieved when workload .
ob demand.
is balanced with work resources such as supportive leadership and a conducive work environment .
ob resource.
Journal of Economic Management and Accounting VOL.
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e-ISSN: 3123-8599.
p-ISSN: 3123-8564.
Pages 1-14 Overall, the results show that leadership style and work environment have a positive effect on employee performance, while workload has a negative effect.
coefficient of determination (RA) value of 0.
673 indicates that these three variables explain more than 67% of employee performance variations, while the rest are influenced by other factors such as motivation, compensation, and organizational culture.
These findings reinforce the Job DemandsAeResources (JD-R) model developed by (Bakker & Demerouti, 2.
, where leadership style and work environment serve as organizational resources that strengthen work motivation, while workload becomes a factor in job demand that suppresses employee energy.
This research also makes a new empirical contribution to the context of the finance industry in Indonesia, showing that the balance between effective leadership, a healthy work environment, and a proportionate workload is an important determinant in maintaining high performance.
In addition, this study closes the gap phenomenon found in the pre-survey, namely a decline in employee performance even though the company already has a good management system.
The results of the study show that the decline is more caused by behavioral and psychological aspects of employees, especially related to leadership indecisiveness and unbalanced workload, rather than by the company's work system or policies alone.
CONCLUSION
This study proves that leadership style, work environment, and workload simultaneously have a significant effect on the performance of employees of PT BFI Finance Indonesia Tbk Semarang Branch.
Partially, leadership style and work environment have a positive effect, while workload has a negative effect on performance.
Respondents' perceptions showed that communication and leadership support as well as working relationships were going well, but supervision, work facilities, and target loads were still the main obstacles.
These findings confirm the relevance of the Job DemandsAeResources (JD-R) Theory, there leadership and the work environment play a role as job resources that increase motivation, while excessive workload as a job demand that suppresses Journal of Economic Management and Accounting VOL.
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Leadership Style.
Work Environment, and Workload as Determinants of Employee Performance: Evidence from Indonesia's Private Financing Industry Theoretically, these results expand the application of JD-R and transformational leadership in the context of the private finance sector in Indonesia.
Practically, management needs to balance the workload, strengthen the supervisory function, and improve the physical work environment.
The limitations of this study include the scope of one branch and limited variables.
Further research is suggested to add psychological variables and use a cross-organizational approach to make the results more general.
REFERENCE LIST