Site icon Premium Researchers

TRAINING AND DEVELOPMENT OF HUMAN RESOURCES. A CRITICAL FACTOR IN BANKING OPERATIONS

TRAINING AND DEVELOPMENT OF HUMAN RESOURCES. A CRITICAL FACTOR IN BANKING OPERATIONS

Need help with a related project topic or New topic? Send Us Your Topic 

DOWNLOAD THE COMPLETE PROJECT MATERIAL

TRAINING AND DEVELOPMENT OF HUMAN RESOURCES. A CRITICAL FACTOR IN BANKING OPERATIONS

ABSTRACT

The purpose of this study is to determine the impact of training development in banking operations.

The goal is to find the causes of excessive labour turnover in banks, particularly commercial banks, and to determine the linkages between productivity and human resources, training, and development.

Also, whether the availability of training and development possibilities motivates bank employees, allowing them to remain committed to the banks’ service.

The researcher used oral interviews, questionnaires, and personal observations to acquire the essential data for the study.

A total of 53 (fifty-three) First Bank Plc employees were studied. The acquired data was statistically analysed using percentages. According to the application, training and development opportunities motivate workers and raise the quality of job performance of the bank’s staff. Despite the fact that a large number of bank workers have been taught, their performance is still unsatisfactory.

The following recommendations were made based on the above findings: Banks should ensure that their training programmes are well-structured and planned, and that equal opportunities for training and development are provided to employees at all levels.

A proper job rotation and assignment should accompany the training programme. Many practical components of financial services should be included in training. Trainers should also be provided with resources and undergo frequent training to keep their knowledge up to date.

The researcher also suggests that banks maintain this work and refer to it anytime training and development programmes are developed. The idea of archiving research works without making meaningful use of them is problematic.

CHAPTER ONE: INTRODUCTION

The necessity for training became a crucial part in the transition to civilization as man produced tools, weapons, clothes, shelter, and language. It makes no difference whether our forefathers discovered or invented these aspects of civilization. What is more important is that man has the ability to pass on his knowledge and expertise in mastering conditions to others.

This was accomplished by explicit examples, signs, and words. Through these gadgets, the training process was completed successfully,

and we can claim that learning occurred and knowledge or skill was transferred. The ninth century (ninth century) saw the advent of social legislation, as well as significant changes in the concept of worker organisation.

Throughout all of these changes, however, a consistent emphasis on quality worker training has been seen, culminating in the Trade Unions’ staunch support for any law that provides a broad spectrum of vocational education.

One of the goals of any organisation should be to give its personnel opportunity to improve their performance in pursuit of the organization’s goals.

With this goal in mind, it may also be beneficial to assist employees believe that the organisation cares about them as individuals, as this increases the possibility of their reacting freely to the demands of the concern.

When we contemplate training, we are aiming to develop a person’s behaviour pattern in order to achieve a standard level of performance by any instructional or experimental means. Learning is thus a necessary requirement for appropriate performance in one’s occupation, whatever that may be.

The value of human resources to any organisation, public or commercial, has long been recognised. Organisational goals such as profit maximisation, market share, and social duties cannot be met without human beings who coordinate the organization’s actions utilising other factors of production.

Experts have proposed that individuals be classed as “assets” and recognised as such in accounting records as a result of the realisation of the worth of human “capital” to any organisation.

An organization’s investment in human capital is a worthy and required expenditure if it is to fulfil its legal, statutory, and social responsibilities to its owners, its public, and society at large.

Because of the changes brought about by modern technology, staff training should be a continuous endeavour.

Change occurs every minute, hour, day, and so on, and the world is entering an era of technology developments that may render previously learned abilities outdated. Training is thus not restricted to new or old employees, but to both, as well as to Senior Management Personnel.

Employees’ attitudes towards their jobs improve as a result of training. This, in turn, increases work performance at all levels, facilitating the achievement of both individual and organisational goals.

1.1 BACKGROUND OF THE STUDY

African Banking Corporation established the Nigerian banking industry in 1892. In 1894, West Africa, now First Bank, took over the bank, and in 1917, Barley Bank, now Union Bank, was created.

Until 1933, when the National Bank of Nigeria was created, the two expatriate banks dominated the banking environment. Between 1929 and 1952, many indigenous banks were created.

However, the majority of them collapsed owing to bad management, a lack of training, little capitalization, and staff competition from foreign-owned banks.

Only three indigenous banks and two foreign banks survived the time, and the First Bank Ordinance was enacted in 1952. It established minimum capital requirements and bank licencing. Following that, from 1952 to 1962 and 1970, no new banks were founded in Nigeria, owing to the impact of regulations and the civil war (1967-1970).

The era of regulation lasted from 1959 until 1986. The Central Bank of Nigeria was founded in 1959 with the goal of promoting and integrating the Nigerian financial system. The Nigerian Central Bank fostered the growth of money and capital markets.

It also encouraged the growth of human resources in the banking business. Other important changes that affected human resource development in banks during this time period include:

A. The enterprises Decree (1968), which made it compulsory for all enterprises in Nigeria, including banks, to register locally and be subject to Nigerian laws.

B. The Indigenization Decree (1972), which established the purposeful Nigerianisation system.

C. The acquisition of controlling interests in the three largest expatriate banks. Because of the quickness with which banks were founded as a result of economic deregulation, the era 1986 to the present is known as the second Banking Boom Era. Banks are increasingly used to allocate human resources by the government and business sectors.

In 1986, the industry had 12 (twelve) merchant and 29 (twenty-nine) commercial banks, but by December 1990, there were 48 (forty-eight) merchant and 58 (fifty-eight) commercial banks, with the exception of 5 (five) development banks and the peoples created in 1989.

Community banks, a type of banking institution aimed mostly at rural communities, began to emerge at the end of 1990. There were 120 (one hundred and twenty) Merchant and Commercial Banks in Nigeria as of May 1991, omitting the Central Bank of Nigeria, four Development banks, people banks, and community banks.

The Federal Savings Bank was recently converted to a “whole Commercial Bank” rather than a development bank. The fast growth of the sector and the financial system as a whole has overstressed bank management.

It has resulted in rapid advancement and promotion for many employees, as well as training and retraining to maintain a high level of competence in the business.

1.2 STATEMENT OF THE PROBLEM

Prior to the foundation of the Central Bank in 1959, most banks, particularly foreign-owned banks, did not take training of Nigerian bankers seriously. Within the foreign-owned banks, there was a gentleman’s agreement regarding competing for business and personnel.

Except in major cities, there were no offices of two foreign banks in the same town, and worker mobility between them was prohibited. However, in order to survive, the indigenous banks had to recruit some Nigerians from these institutions.

It is documented that in the early twentieth century, foreign banks hired Nigerians mostly as menials and clerks, while their management and intermediate staff were expatriates. Until the 1970s, one could see numerous white faces of Accountants, Managers, and Office Executives in banks.

There were no deliberate efforts to groom Nigerians for management positions; in reality, the calibre of persons employed were either dropouts from schools or school certificate holders with poorer grades in order to stay on the employment for as long as possible.

Union Bank was the first local banking firm to build a training centre in 1956. Until 1960, First Bank did not have a local training centre. United Bank for Africa, which began operations in 1961, did not establish a training centre until 1975.

Even though its first office opened for operation in 1960, Savannah Bank, formerly Bank of America, did not have a training centre until 1976. After 28 years in business, NAL Merchant Bank just created a training centre in 1988. However, several banks are known to have established training institutes within a short period of time after their establishment.

Despite all of the efforts made by banks and human resource development, there are still long lines when it comes to depositing money, withdrawing money, or using any other service provided by banks.

Second, in comparison to what is customary, the rate of labour turnover in banks, particularly commercial banks, is extremely high. There is no doubt that this high rate of mobility adds to the bad services provided by banks.

This, according to the researcher, is highly important in terms of returning value to the organisation in terms of greater productivity, low worker turnover, heightened morale, cost savings, and enhanced efficiency in order to attain the organisational aim.

1.3 OBJECTIVE OF THE STUDY

The study’s aims are as follows:

1. To ascertain the impact of human resources, training, and development on bank operations.

2. To examine whether there is a link between worker turnover and the availability of training and development opportunities in banks.

3. To investigate the training and development options accessible to bank employees.

4. Determine the number of employees who are trained each year and how this affects their job performance.

5. Determine whether bank employees regard the training and development programme as motivating and a source of job enrichment and satisfaction.

6. Determine the sort of training provided, as well as the method and locations of instruction.

7. To assess worker performance before and after training courses.

8. To provide recommendations to banks, as appropriate, in order to make its human resource training and development programmes more meaningful.

1.4 RESEARCH QUESTIONS

These are some research questions:

1. Does training and development of human resources have any effect on the level of performance of banks?

2. What percentage of the workforce is trained each year?

3. What types of training programmes are available in banks?

4. Does training and development have an impact on bank profitability?

1.5 RESEARCH HYPOTHESIS

H0: Does training and development improve the quality of job performance of bank employees?

H0: Does the availability of training and development opportunities have no effect on the rate of workforce turnover in banks?

H0: Do training and development opportunities encourage employees?

H0: Human resources, training, and development do not boost banks’ profitability?

1.6 THE SIGNIFICANCE OF THE STUDY

This completed study work will be extremely beneficial to the following:

1. Banks in Nigeria: This study will assist the management of Nigerian banks in improving the quality of their workforce, with specific reference to First Bank Plc’s main branch.

2. Bank clients: An enhanced banking service will save clients the time they spend in banks waiting to be attended to.

3. Nigerian Economy: The research will aid in the recovery of the country’s devastated economy.

4. Bank Employees: When banks recognise the importance of human resource training and development, their employees will undoubtedly have a better chance of getting taught. This will aid in their development and formation of their future.

1.7SCOPE

This study focuses on the Enugu main branch of First Bank of Nigeria Plc. A detailed investigation was conducted in the main branch. Any further references to materials, other banks’ actions, and so on are for clarity and vivid knowledge of the subject area, and are within the scope of his study.

1.8 DEFINITIONS OF TERMS

Training is the process of training someone to execute a specific job or skill well.

Development is described as the activity or process by which something or someone grows or becomes larger, more advanced, or better organised.

Need help with a related project topic or New topic? Send Us Your Topic 

DOWNLOAD THE COMPLETE PROJECT MATERIAL

 

Exit mobile version