THE CHALLENGES, PROBLEMS AND PROSPECTS OF OUTSOURCING HUMAN CAPITAL IN NIGERIA
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THE CHALLENGES, PROBLEMS AND PROSPECTS OF OUTSOURCING HUMAN CAPITAL IN NIGERIA
Chapter one
1.0 Introduction.
1.1 Background of the Study.
Every commercial organisation, regardless of scope, size, or style of operation, has a ‘end’ to which they work; such ‘ends’ are referred to as aims and objectives to be reached within a specified time frame depending on the organization’s heritage.
However, it is important to understand that there is no ‘end’ without’means’ to achieve that ‘goal’; these’means’ in any organisation are classified as: Man, Machine, Money, Material, Time, and Technology.
These’means’, which are viewed as resources or usable resources in all organisations, cannot work autonomously, and man, which is regarded as human resources, is the most crucial feature of all these resources, if an organisation is to fulfil its stated goals.
It is important to note, however, that no organisation can operate without human resources in the global context. Since all actions such as planning, extracting, and processing all other resources to make them useful in a variety of ways as necessary by the organisation and in line with the organization’s corporate mission.
The human aspect of any organisation must be well nurtured in order to achieve the organisation’s stated aims and objectives. This necessitates the establishment of a personnel management department in every organisation, which serves as an effective utilisation of human labour towards achieving set goals through the production of quality goods and services that can meet consumers’ tastes and fill their needs profitably.
Because the purpose of hiring people is to help the company grow and achieve its goals, the company will make every effort to ensure that the wages and salaries paid to employees do not interfere with the intended profit from the production and sale of goods and services generated by the employees. Abefe-Balogun (2001).
Thus, while humans are highly important and must be well cared for, they must not be at the expense of the company’s goals and objectives, which are primarily profit-oriented. As a result, one’s interest must not come at the price of the other, implying that goals must be congruent.
1.2 Statement of the Problem
This research focuses on the issues, problems, and potential of outsourcing human capital in Nigeria, namely the private sector economy.
In recent years, there has been a growing and unprecedented trend among businesses to outsource their core and ancillary company tasks. This is because outsourcing allows the organisation to focus more on core business goods and growth while saving time and money.
While manufacturers and employers present numerous justifications for outsourcing, it is undeniable that when human resources are outsourced, workers’ rights and privileges are steadily reduced, and those in permanent employment risk losing their appointment. There is increasing anxiety about job security.
Casualisation is in a hazardous situation because so many businesses refer to it as casualisation or outsourcing. Whatever you call it, it is taking on a hazardous dimension, which is why we are attempting to gather all unions from all industries together to collaborate and plan together in order to combat this evil.
Because this is a capitalist state, their concern is not with human beings.
In fact, their machines are valued more highly than their workers. Unless we get together to confront this monster, unemployment will rise by the day. Bright (2007).
However, the problems and challenges of outsourcing human capital in Nigeria have become a national issue, and the problems and obstacles encountered as a result of human capital outsourcing significantly outweigh the potential for Nigeria in general.
Though most organisations pretend that they only want to focus on their core activities, which is why they outsource their human resource management, it is now clear that organisations, particularly in the banking industry, are only interested in achieving their stated objectives without regard for the interests of their employees.
Outsourcing human capital is beneficial to organisations, but what about the impact on employees and the country’s economy, specifically the private economy, which led to the emergence of this project work using the Bank PHB (Consisting of Platinum and Habib Bank) Headquarters, Human Resources Department 10, Tiamiyu Savage Street, Victoria Island Lagos.
Furthermore, this research work is to study the difference between those organisations using the outsourcing system of recruitment and those using in-sourcing system of recruitment.
This research work will base its testing case on First City Monument Bank (FCMB) Headquarters, Human Resources Department, Boston House 10/12 Macarthy Street, Ikoyi S. W. Lagos (the organisation that uses in-sourcing system of recruitment) to bring about the evil in which outsourcing has
1.3 Object of the Study
The study’s aims are:
i. Determine the issues involved and how individuals recruited through the outsourcing mechanism may deal with them.
ii. To investigate problems experienced by personnel hired through consulting firms, i.e. the outsourcing system of recruiting.
iii. Determine the opportunities available to organisations that use an outsourced system for recruitment.
iii. Investigate whether the so-called outsourcing system involves enslavement on the part of the workers, and to what extent.
v. To determine the impact of an outsourcing recruitment system on the Nigerian private economy.
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