The Effect Of Human Resource Management On The Overall Performance Of An Organization (A Case Study Of Zenith International Bank Limited, Victoria Island, Lagos)
This study is purposely designed to brig into lime light the effect of human resources manager has in the overall performance in an organization. The hypothesis formulated was: human resources management has an effect on the International Bank Limited, Victoria Island, Lagos was deal with in detail their Objective and achievement were also reviewed. Relevant literature were reviewed extensively with the meaning history of Zenith International Bank in the world and in Nigeria. The research methodology and data analysis adopted in this study was population size and procedure questionnaires distributed, interview conducted and related books and journal were consulted. Simple percentage rating and chi-square were adopted in the data analysis and result interpreted to determine the validity of the statement of hypotheses.
Table of Content
- Title Page
- Table of Contents
- 1.1 Background of the Study
- 1.2 Statement of the Problem
- 1.3 Statement of the Hypotheses
- 1.4 Objective of the Study
- 1.5 Significance of the Study
- 1.6 Scope or Delimitation, Limitation of the Study
- 1.7 Definition of Terms
- 1.8 Plan of the Study
2.0 Literature Review
- 2.1 Conceptual Review
- 2.2 Empirical Review
3.0 Research Methodology
- 3.1 Study Population
- 3.2 Sample Size
- 3.3 Sampling Procedure
Presentation and Analysis of Data
- 4.1 Collection and Analysis of Data
- 4.2 Analysis of Data
- 4.3 Analysis of Data and Statement of Annual Report
5.0 Summary, Conclusion and Recommendations
- 5.1 Summary
- 5.2 Recommendation
- 5.3 Conclusion
It has become obvious that all economic resources and human resources is the least efficiently used. However, the greatest opportunity to improved economic performance is within the improvement of the effectiveness of people and their work. Therefore, human resources management can be defined as the effective management of human resources. This means that managing people is an essential activity in that it’s basic management responsibility in every organization. It also means that it involves planning, directing and controlling beings in employment It is also an act that is required and must be performed in both governmental and private organizations. Human resources management is also essential under any economic system that is, under capital as well as socialist system. It is also an essential function in small and large business. Finally, it is a continuous and inevitable process.
1.1 Background of the Study
In any typical organization, human resources connote both the quality and quantity of labour that is exhibited in the form of mental capabilities. Physical efforts and overall technical know how of the organizational actors. Human resources management therefore, entails the means through which an organization sustains, motivates and even disciplines of human resources to enhance the maintenance of human resources, human relationship and the physical well-being of employees and above all, for the achievement of organizational, it is the job of the personnel department in an organization to offer measures aiming at enhancing the effective management of human resources in order to boost its overall performance.
1.2 Statement of the Problem
The study is based on the effect of human resources management on the overall performance of a firm in an organization, a case study of Zenith International Bank Limited, Victoria Island, Lagos. What justifies the continued existence of an organization is the achievement of its set goals and objectives. A typical organization has within its capacity several resources, which it can harness, towards achieving the goals. Basically, these resources: the human money, material and machinery resources of all these resources however, the effect of human resources on the overall performance of an organization cannot be over-emphasized. No matter how self sufficient or how good the management of an organization feels over its set goats and its achievement so far, it should realize that without human resources, the organization couldn’t really perform neither can its set goals be achieved. We can only begin to understand the considerable complexities when we recognize (Human resources) operations.. When we recognize that unlike machines, raw materials or other input to production, labour (human resources) is not a commodity that labour market is composed of million of human beings whose well-being is of great importance. Management should therefore observe the human resources in a different perspective, realizing its priority over other resources. Many firms today are yet to realize this fact, and subsequent effect over this ignorance is detrimental to the organizational performance.
1.3 Statement of the Hypothesis
The following tentative statement that depict the variable and environment upon which the study is based of relative importance.
- Ho: That working capital management has positively effected on the going concern of the resources.
- Hi: That working capital of the management is far from having poi ct on going concern of banking industries.
1.4 Objective of the Study
The aims of this study are to:
- Identity the importance of human resources on the actualization of the corporate goals and objectives of a firm.
- Examine the impacts of human resources management on the general performance of our case study.
1.5 Significance of the Study
This project work would disclose the secret behind the survival, growth and development of any existing and the effectiveness of the human resources management department in any organization. The various functions carried out by the personnel management are staffing processes, compensation welfare and the process or method through which all of staff and subsequently on the profit. The conclusive part of this study will enable the reader(s) to identify the necessity of human resources management in an organization, their problem and proffer solution to bring at a mere harmonious work relation in an organizational setup.
1.6 Scope or Delimitation of the Study
For the purpose of making this research study objective and its finding practicable, we decided to choose a case study. To this end we choose a bank, which we believe that its enviable position today in that comity of financial institution is borne out or the effective and efficient manner. Hence, Zenith International bank is chosen as a case study of this research work
This research will be limited to Zenith International Bank Limited, Victoria-Island, Lagos. It is situated at Victoria Island, Lagos Obviously, in any research work of this nature problem or difficulties are bound to be encountered. The period given to finish the research and financial constraint have us to limit our research work to Zenith International Bank Limited, Victoria Island, Lagos.
1.7 Definition of Terms
For the purpose of wider understanding of the term “Human Resources Management”. This has to do with the coordination, directing and controlling of human being or labour force in a given employment circle.
1.8 Plan of the Study
This project work as been divided into five chapters with each chapters dealing with important areas of the topic.
- Chapter one based on the introduction of the study. It also spells out the purposes of the study. The statement of the problem and finally the plan of the study.
- Chapter two shows the past and current literature reviewed by various authors on the objective of an organization, the financial resource, material and human resources.
- Chapter three discuss the case study and methodology, study population and hypothesis of the research design corporate profile of case study (Zenith International bank Limited) Sampling Procedures and sample size of the case study.
- Chapter four contains data collection and analysis of data.
- Finally, chapter five contains the summary of the entire author, research work as well as the conclusion and recommendation that were spelt out.
Summary, Conclusion and Recommendations
With reference to our stated objectives at the earlier stage of this research work, we have been able to see that the preeminence of human resources over other organization factors like financial and material resources. The truth is further buttressed by the fact that without human resources, it will be definitely be impossible for other resources to be properly managed towards productivity. This importance of human resources became quite an issue that should never be taken with levity, due to the significant role it plays in bringing about the actualization for corporate goals Knowing its importance in an organization therefore demands for its proper management, if there is to be consistency in an organizations growth and general performance.
For this reason, therefore we felt strongly compelled after seeing the enviable and promising standards that Zenith International Bank Limited has set just its eight years of corporate existence, to embark on a fact finding mission on how the bank has been able to combine various productivity resources through these staff to be highly skilled, motivated and strongly committed to the success of the bank.
We were able to see how strongly significant this proper management of the human resources of an organization. The whole policies and measures instituted by our case study in the aspect of managerial science (Human resources management) has proved to be so superb and most rewarding both to the organization where in its eight years of existence. It is been characterized of a labour however at just only two staff out of about one thousand, six hundred and seventy two work force. This represents a slim margin of just 0.12% of its original staff strength. With reference to the whole human resource management policies, we were highly impressed to see uniquely packaged policies of employment. Staff strength, safety and welfare, policies on remuneration which particularly was in itself model polices a place for fringe benefits.
Compensation and rewards loans allocation and other allowances, motivating incentives face their junior workers and a whole lot of others coupled with their disciplinary policies and measures. All these were found out to be skillfully and continuously instituted, thus bringing about the constituted progress of the banks yearly performance even in the face of unpredictable circumstance playing our nation’s banking sector. Of particular interest is their remuneration system, which was commendable. We were enlighten further of the conventional approach, which involves the determination of staff salaries using the prevailing standard adopted by contemporary institutions of like business. And on this we were further told that the bank in this respect is a pace-setter in adopting his approach, they do not strictly apply remuneration policies in other banks but instead they go beyond that, so that their own policy now becomes the one others will follow.
The second approach which we were confidence approach in a case where in the bank puts in consideration on extra-ordinary factors prevalent in their staff at any point in time. A typical case when this approach was adopted in 1994 when an increment of 2% on every stage salary was affected for four months due to the harsh economic conditions in the country as a result of industrial unrest in the oil sector, which had its toll on the general economic activities.
In the course of the research work, it was discovered that as a matter of corporate principles, my case study does not absorb youth corps members for any training whatsoever even though they allow first degree or diploma holders without years of working experience to apply for vacancies. This policy, we rather found unsatisfactory, I would like to drive on the contrary that the corporate member on training to be given a dance to come into the bank to learn move about the practical aspect of other field of study. This we think could help the bank to discover outstanding potentials useful to the bank among the corporate member in training. The second observation, which also happens to be the final, has to do with the group which our last respondent came from. We discovered that the group solely comprises of junior workers like the drivers and security officers. In other words, this group is not given any form of credence from the management. It exists independently and has no official recognition. To this, we do advise the management to upgrade this informal group to a formal status to help boost the morale of these junior workers.
However, when they are being adequately catered for by the management, this would also help in providing a route to channel their complaints and even appreciation to the management at any point in time. We do recommend that management see to the issue with a view to adjusting the current situation, bearing in mind that work as well as group recognition is one of the motivational factors needed by employees as prescribed by “Maslow in the theory of motivation”.
Finally, it has been revealed, that Just like Zenith international Bank Limited, the proper and efficient management of an organization manpower forms the various inch where in corporate goals are finally achieved and without prejudice. I strongly recommend Zenith approach in human resources management to any organization who wishes to achieve greater heights in its pursuit in achieving corporate goals and objectives, bearing in mind that the proper management of an or definition human resources actually make the whole differences between a successful organization and unsuccessful one. At this juncture, however we would not call out research work done of which i fail to make mention of some rather negative observations. I discovered about some human resources management policies in my case study and subsequently advise these lapses.
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