The Effect of Shared Leadership on Work–Life Balance in Digital Work Environment of SMEs: Focusing on the Serial Multiple Mediation Effects of Person-Organization Fit and Techno-Stress

With the rapid advancement of digital transformation and the impact of the COVID-19 pandemic, digital work environments have emerged as the new standard for organizational operations. In this context, small and medium-sized enterprises (SMEs) are increasingly required to shift away from traditional operational models and leadership structures toward more flexible and participatory organizational strategies. Notably, the autonomy- and interaction-oriented tendencies of the MZ generation (Millennials and Generation Z) align well with the principles of shared leadership in digital work settings. This study empirically examines the impact of shared leadership on the work–life balance of MZ-generation employees in SMEs’ digital work environments, focusing on the serial multiple mediating roles of person–organization (P–O) fit and techno-stress. An empirical analysis was conducted with 257 MZ-generation employees in South Korea. The findings reveal that shared leadership enhances P–O fit and reduces techno-stress, thereby exerting a positive influence on work–life balance. Furthermore, P–O fit and techno-stress mediate the effects of shared leadership through a sequential mechanism involving cognitive identity formation and emotional stress buffering. The study extends existing theories of shared leadership by situating them within the contemporary digital organizational context of SMEs and provides theoretical insights into the complex mediating mechanisms underlying its effects on work–life balance. Practically, the results highlight the necessity of adopting shared leadership as an effective collaboration strategy for MZ-generation employees during the digital transformation era. Additionally, the study suggests integrated strategies to enhance organizational fit and manage techno-stress, offering meaningful implications for sustainable human resource management and organizational operations in SMEs.