Human Capital Development In The Banking Industry And Its Effects (A Case Study Of Zenith Bank Plc Ilorin Branch)
1.1 Background of the Study
Training is a process were by individuals acquire knowledge, skill and attitude through experience, reflection, study or instruction.
Training is also planned process to modify attitude, knowledge, skill, behaviour, etc through learning acquire effective performance in an activity or range of activities. The purpose of training is to develop the ability of an individual to satisfy current and future manpower needed to supplement education or to train for taking up higher responsibilities.
Training is available for both new and existing staff of any organisation, although the new recruit might already have appropriate skill and good attitude in all profile, human capital development will help to sharpen both areas so that better performance can be achieved both new and existing staff even well established staff may need skill refinement and upgrading.
Human capital development may be formal or informal. Some organisations invest in and develop their own high quality training facilities and run a regular series of introductory and refresher courses in house. This has the advantage of ensuring that the training is relevant to the organization and its business as well as signifying an on-going commitment to staff development.
Formal and Informal training appears to have existing as long as origin of man and this has been accorded varied status in human life. With advantage in knowledge, practice and technology, training and manpower development have become sophisticated and resource consuming. It has also been stressed that training and manpower development is an art and a science in its own right. Hence, an attempt at establishing the actual meaning and manpower development is beneficial to us at this point.
According to Hassling (1971) “training is sequence behaviour in other to attain a stated objective”. In the same vein, M. Turrel (1980) defined manpower development as the way in which a person’s performance and potentials are development by training and education. Education itself is the systematic instruction given for the development of character and mental powers. It is the basic form of training given for the enlighten of the mind through the process of social facilitation. In fact, education, training and development are distinguishable but not separable as a result of their close interrelationship and interdependency.
The human resources available to an organisation constitutes its life wire and therefore the need for its training and retraining for efficient performance has become a major importance to management of all type of work and organization. The centrepiece of any organization is the workforce. Hence, the need for adequate training and development of its entire of its entire workforce should be paramount.
For these reason that the banking industry lay so much emphasis on training and development so as to be able to meet the demand of its numerous customers. The banking industry in Nigeria is no longer what it used to be. There is high rate of competition in both the first and generation banks. As a result of this trend the need for adequate training and its manpower development so as to be able to meet the challenges and the sophisticate nature of their numerous customers. Banks as we know are not charity or gratuitous organization. They are established to make profit via-a-vis contributing to the economic development of the society. For all of these to be achieved, training and retraining of the entire workforce as well as its manpower development as well as its manpower development should be their main focus. This will enable them to meet the expectation of their customers through quick service delivery.
From the above there is no doubt that successful training or manpower development programme id of major importance and would be beneficial first to the trained manpower, the organization and the society at large. However, it is worth mentioning that a training and manpower development programme that fulfils the desired end of a product of certain processes and practices.
To train is always with a purpose. It is a means for maintenance and improvement for the level of performance of a person in a section or a development. Training costs money in terms of time and resources. Therefore, training as tool of management should be used judiciously and the knowledge acquired should be applied. There must be a direct relationship between performance problem that are business priorities and the training event that are used to overcome the problem. The impact of training is for upgrading performance e.g. improved layout of plant and equipment, improved system and procedures, restructuring of job, etc. any job has training implication but it should be ensured that when training is proposed it is cost effective
1.2 Statement of Problem
There has been a growing emphasis on professionalism, growing, bureaucracy, competitive growth, rise in the education level with demand for better leadership, all throw the need for a better equipped workforce. As a result of the growing rate of competition in the banking industry in Nigeria there has been a growing need for mechanization and automation of the banking process and procedures. They employment of high technologically based service delivery the sophisticated nature and development inevitable.
There is a new trend blowing across the world that is globalisation, e-commerce, e-banking and universal banking. All of these pose challenges to the twenty first century bankers. And all of these innovations need great skill to be able to meet future objectives of the organization became all of them are operated through online. And these need training and retraining of the entire workforce so as to be able to bridge the gap which may exist as a result of these new
Inventions: The banking industry in Nigeria has been revolutionized. The banks have all been restructured according to their various capacities. Hi-tech equipment has been employed to carryout daily transaction with ease. But the problem here is that the personnel to handle these advance system require to as well as development so as to be able to meet the required standard of performance.
Considering the financial implications of training the growing concern here is how often with all these banks training their personnel in skill acquisition so as to be able to various position and responsibilities. Another problem is the feeling of job insecurity amongst various categories of staff as a result of automation of operation. Another problem area we have is the sustenance of these developments.
1.3 Objective of the Study
Manager define an objective as an intent communicated by a statement describing a proposed change in a learner, a statement of what the learner is to be like when he has what the learner is to be like when he has successfully completed learning experience.
Training and manpower development objective are very important in that they assist the personnel assigned to the training department to accomplishment of desired result as well as focus their activities towards the training department. Besides, in the absence of clear objectives, special training objective also prevent them from spending their time and energies on irrelevant matters. The objectives of training are associated with overall goal and priorities and must be realistic practicable, meaningful and quantifiable. Others include involvement of all concerned, coverage of key result areas, and finally it must be communicated.
The objective of this study is to identify the primary objective of training in an organization as that of ensuring the efficiency and the most optimal use of its human resources. Generally, there are principal objectives training the bases of which are training policies, strategies and action.
1.4 Research Questions
- Have training and development improved the quality of service in the bank?
- Does the introduction of advance computer system improve the efficiency and profitability of the bank?
- Have training and development been able to promoted accountability in the bank?
- Does training modify behaviour, attitude, skill and knowledge of individual staff?
- Have training and development been able to bring sanity to the banking industry vis-à-vis zenith bank plc?
- Do training and development motivate staff?
1.5 Scope and Limitation of the Study
The scope of the research study cover the comprehensive appraisal of the cost, benefit and status of training and manpower- development- It also provides an insight to ethical standard in which training and development evolved.
It also covers the effect of emergence of technology in banking activities. The study will cover a period of 5yrs i.e from 2005-2009.
Due to time and financial constants, I will not be able to cover all the banks in the country. My study will therefore be limited to zenith bank only more so this is the bank I have chosen as my case study.
1.6 Significance of the Study
Zenith bank as a major organization in bank industry in Nigeria stands to benefit from the finding of the study. It will know the efficiency of its training and development programmes, Recommendations in this training and development policies as well.
Apart from assisting the organization to achieve set objectives, trained and manpower could project the right kind of image of the organization to the outside world. This could influence more customers and attract the right type of
employees to the organization. It could also improve the public relations practice in the organization.
1.7 Definition of Terms
Term is the period of time before a security expires or is redeemed. Term is one of the periods of the year appointed for holding instruction in colleges and school.
Is the capacity or potential of a project or an organization to make a profit?
To make an official valuation of, set a price or value on, especially by authority of law or agreement of interested Parties.
This skill general or specific acquired by an individual in the course of training and work experience.
Human Resource Management
The management of people to achieve individual behaviour and performance that will enhance organization effectiveness
Is a term use in the assessment of economic use of resources?
On the job training:
It is when an employee is place in to real work situation and shown the job and tricks of the trade by an experienced worker or supervisor.
Summary, Conclusion and Recommendation
The primary purpose of the study is to gather information from students and qualified bankers/ accountants about the problems and impact of human capital development in the banking industry, vis- a – vis zenith bank plc.
The project consists of five chapters one deals with introduction, background of the study, statement of the problem, objective of the study significances of the study, test of hypothesis, research question, scope of the study and definition of terms.
Chapter two deals extensively with Literature Review in order to see the salient objectives of this study are met and its contribution to knowledge, in this chapter, opinions and views of powerful writers/ experts on the topic were used to shed more light on our points
Chapter three deals with research methodology, Sources of data collection, study area and sampling procedure and mathematical tools to be used which are mainly tables, simple percentage and chi- square.
Chi- Square was used to test the hypothesis formulated.
Chapter four covers presentation, analysis and interpretation of data gathered from the field via question naira. Interpretation of the data becomes necessary and was carried out with a view to bringing out the result of our findings.
Based on the data collected from the field survey and various literature reviews on the project topic, it is highly significant to draw conclusion based on the findings. The average success and failure of any organisation depends mostly on the effectiveness’ and of bankers and accountant.
It has been establish-ed that most bankers lack basic training, the best motivational technique therefore is for the management and government to direct their resources and time towards.
Human capital Development in the Banking industry and its effect on profitability is a knowledge and personality attributes embodied in the ability to perform labour so as to produce economic value in the banking industry.
Based on the result of our findings, the following recommendations are made by the researchers;
- Workers in the organization irrespective of their status are better motivated by training and development activities. Remuneration packages should be attractive to further motivate the staff for optimum performance.
- The researcher appreciates the management commitment to manpower training and development is a candid opinion that training activities should cost across all the sections that make up the organization selection for training should be based purely on merit and not through favouritism.
- The researcher suggests that a correspondents training schedule should be introduced to compliment the existing one.
- The importance of identifying both organizational and individual training needs for an effective and result- oriented training programme cannot be over- emphasized. The organization should device a better means of identifying and training needs for her Workers. There should be a constant communication between the training officials and human capital management department.
5.5 Limitations of the Study
The following are the limitations of this study:
1. Financial Problem
In carrying out this research project, the researchers were faced with a lot of financial obstacles. The problem across as a result of economic recession prevailing at the time of conducting the research and this has made the researchers to limit the research to the little available instrument/data used in carrying out the research.
2. Attitude of the staff of the organization towards the researcher.
Most of the people and organization consulted to render useful information for the consulted to render useful information for the successful implementation of the research refused to supply reliable information and this made the situation worse for the researcher. Some of the management staff interviewed about the subject matter initially refused to give out information. They thought the information could of the information should leak out to their competitors.
- Time factor:It is a time- consuming work which needs to be given much time because it involves migrating to get proper and accurate information for the research project. The time set for the submission of the project is rather short, more so, other academic activities were still to be taken care of.
- Data Constraint; Unlike developed countries that maintain reliable data bank, Nigeria lacks data bank where credible and could be sourced for meaningful research. In other words, there are no robust data banks where reliable data can be sought.
- Further more, most of the textbooks in our polytechnic library are not up-to-data this has necessitated souring for data not only from some other tertiary institutions
Suggestions for Further Study
Nobody can stop anybody from researching further into a particular topic. To this end the door is free to further researchers to research into area(s) I did not cover adequately because of time and financial constraints.
Surprisingly, result from the exercise maybe beneficial not only to the bank but also to the entire economy generally
Further more, the result from the exercise could add more to the literature on the topic,
Human Capital Development In The Banking Industry And Its Effects (A Case Study Of Zenith Bank Plc Ilorin Branch)
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