The impact of training and development of human resource as a critical factor in the banking sector (a case study of first bank of nigeria plc main branch enugu).

Thesis Overview

<p> </p><p>INTRODUCTION<br>1.1 BACKGROUND OF THE STUDY<br>Many years ago, the concept of training and development were<br>misunderstood and not given full consideration in most Nigeria organization.<br>Today the situation has change totally, such that many organization, business and<br>non business organization has come to realize the need for training and<br>development of employee as vital for organization development and operation.<br>Training and development has started since the existence of man, as the action of<br>man is directed on what to do and when to do it. Just as a little child is trained on<br>various ways of walking, standing and sitting, it is done in order to develop the<br>child with skills to adapt to his environment. The above statement is applicable to<br>an employee, in order to train him so as to be able to adapt to the environment and<br>organization which he finds himself. With this, it is clear that every organization<br>need to train its employee so that there will be improved growth and productivity.<br>According to Abolo, E.M. (2000), Banking business in Nigeria started in 1892 by<br>African Banking Corporation. The bank was taken over by now standard bank,<br>now First Bank in 1894.<br>The two expatriate banks dominated the banking scene until 1933, when National<br>bank of Nigeria was established. Many indigenous banks were established between<br>12<br>1929. But most of them failed due to probably, lack of training and development.<br>Only three indigenous banks and the two foreign banks survived the period, by<br>1952, the first bank ordinance was introduced, it stipulated the minimum capital<br>based and licensing for banks. The period that followed, 1952 to 1962 and 1970,<br>there was no new banks establish in Nigeria, presumably because of the impact of<br>regulations and the civil war (1967 – 1970).<br>The periods of 1959 – 1986 witnessed the era of regulation. The central bank of<br>Nigeria was established in 1969 with the aim to promote and integrate the Nigeria<br>financial system. The central bank of Nigeria encouraged the development of<br>money and capital markets. It also encourages the banking industry. Other useful<br>development within the period that affected human resource development in banks<br>is:<br>a. The companies Decree (1968). Which made it mandatory for all companies<br>in Nigeria, including banks to register locally and b subjected to Nigeria<br>laws?<br>b. Indigenization Decree (19720, which introduced the system of deliberate<br>Nigerianization.<br>c. The acquisition of controlling shares in the three big expatriate banks. The<br>period 1986, to date is called the second Banking Boom Era, because of the<br>rapidity with which banks were established due to deregulation of the<br>13<br>economy. The government and private sector rely on bank for allocation of<br>human resources. In 1986, banking industry had 12(twelve) merchant and<br>29(twenty-nine) commercial banks. By December 1990, there was 48(fortyeight)<br>merchant banks and 58(fifty-eight) commercial banks apart from<br>5(five) development banks established in 1989. A unit banking system<br>meant mainly for rural communities started springing up towards the end of<br>1990. As at may 1991, there were 120(0ne hundred and twenty) merchant<br>and commercial banks excluding central bank of Nigeria, four development<br>banks, people banks and community banks.<br>The federal savings bank was recently converted to what they call a whole<br>“commercial banks” instead of being a development bank. The rapid growth within<br>the industry and financial system as a whole has over stretched the management<br>cadre of banks. It has created upliftment and promotion for many staff training and<br>retraining to maintain a high level of competence within the industry.<br>1.2 STATEMENT OF THE PROBLEM<br>Before the establishment of central bank in 1959, training of Nigeria bankers was<br>not taken serious by most banks. Especially the foreign oned banks. In every<br>organization or sector all over the world, the management sets up the organizations<br>goals and ways of achieving these goals (First Bank of Nigeria Plc). Is not<br>exception Ejiofor (1981:248 – 249) states that for an organization to attain this goals<br>effectively and efficiently. Workers are taken very important and necessary. And<br>to keep and maintain these workers, they should be trained and developed, and also<br>be familiarized with the new trend in existence.<br>Many organizations have not been able to identify the important of training and<br>development. These questions were being asked by Rosenberger why some<br>organization performs better than other? Why it is that organization or sectors has<br>not been able to perform efficiently? Why is it that training and development is<br>rarely considered necessary in some?<br>In giving answers to these questions, it is important to determine the following<br>areas:<br> Identify potential training needs of job existing.<br> Identify individual performance level.<br> Identify post training performance with respect to the training and<br>development objectives.<br> Identify the huge sum of money and other resource usually inputed into<br>training of the employees of First Bank of Nigeria Plc.<br>The need to find solution to this problem can badly be over emphasized. It is so<br>order to correct the impression that has been created into the mind. Executive who<br>believe that there is no effect in investing fund in training and development of<br>employees in the bank.<br>1.3 OBJECTIVE OF THE STUDY<br>Following the topic under discussion, the objective includes the following;<br>1. To determined influence of training and development of human resource on<br>the operation of banks.<br>2. To help provide an opportunity and broad structure for the development of<br>human resource technical and be behavioural skills in the bank.<br>3. To find out if staff of the banks see the training and development programme<br>as motivation and means of job enrichment and satisfaction.<br>4. To determine the number of bank staff trained each year and how it affects<br>their performance at work.<br>5. To evaluate worker performance before and after training courses.<br>6. To make recommendations where appropriate to the banks in other more<br>meaningful, it human resource training and development.<br>7. To improve upon the quality of work and life in the bank.<br>8. To determine the problem banks encounter in carrying out training and<br>development of its staff.<br>1.4 SCOPE OF THE STUDY<br>Looking on the topic of this study the aim at covering all the above<br>mentioned objectives. The study the Enugu main branch of Nigerian Plc. The<br>finding made in the research is not only beneficial to bank operation, but also<br>beneficial to other organization in Nigerian in their training and development of<br>human resource, which help improve individual worker performance and that of<br>the entire company</p><div><div></div></div><br> <br><p></p>