INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The importance of human resources to any business organization has long been realized and stressed. This realization of the value of human resources has let to the proposal by experts that they should be classified as “assets”, hence the term “human capital” (Anderson, 2005:18). To get the best out of the human resources in an organization, there must be substantial and meaningful investment on them.
Organizational objectives such as profit maximization, large market share, and fulfilling social responsibility cannot be achieved without an efficient work-force. Therefore, human capital development is essential for sustainability and growth of an organization. It is thus us, being realized now that the forces that give life to an organization are the human energy and creativity operating therein (Onodugo, 2000P: 168). Thus, no matter how good and sophisticated capital and technology may be, it is of little relevance to the organization’s goal when managed and operated by underdeveloped human resources. They do not only lack capacity but also the motivation to use other resources efficiently towards the organizational ends (Ugbaja, 2005: 62).
In some organizations, only individuals who have acquired skills on specific jobs are employed. But in others, individuals are employed to be developed on- the -job as required by the organization. In this case, it is believed that the individual, through training and development programmes, will acquire the skill and knowledge required for effective performance of the job (Nwatu, 2006: 72). However, human capital development must be based on the need rather than meeting the requirements of the organization. Such requirements must be accurately defined and the development programme should be organized to exploit the potentials of the employee or to correct the deficiencies in the level of their performance (Ugwunna, 2007:151).
Today, the business environment is very dynamic and undergoes rapid changes as a result of technological innovation, increased awareness and changing demand of customers and the environment generally. Business organizations, especially the banking institutions, operate in a complex and competitive market characterized by innovative changes. As a result, human capital in these banks ought to be kept abreast with the continuous changes in the banking environment (Isichei, 2006: 24). Thus includes internal and external banking environments.
In order to be competitive and keep afloat, human capital development should be on a continuous basis. In other words, bank employees should be trained and re-trained continuously and adequately motivated in order to stimulate high performance as this is one sure way to make the business profitable, growing and self-sustaining (Ajunwa, 2005: 63). As has been observed and stressed in the financial sector, the ever-improving information and communication technology and demands of stakeholders have engendered keen competition, thus giving rise to the need for well trained and retrained human capital.
With the continuous improvement in human capital in response to the changing business environment, over time this will lead to growth and sustainability. Thus, the critical success factor of business organization is to have a pro-active human capital which can anticipate the future and adjust in advance to ensure continuous high performance which would ultimately lead to growth and sustainability. The onus therefore lies with management to put in place an appropriate and efficient mechanism for human capital development (Osemene, 2007: 19).
Basically, there are two approaches to human capital development for sustainability and growth-manufacturing and growing approaches. The manufacturing approach is the most popular to human capital development. This approach details the processes through which human resources will be developed without due consultations to the beneficiaries. To this end, organizational members are selected, trained, developed, deployed, promoted and appraised all within the context of the need of the organization without prior input from the employees (Agundu, 2004: 72).
Unlike the manufacturing approach, the growing approach grows talent rather than manufacture it. Once the individuals are employed and deployed, they are allowed to develop into what they are capable of becoming provided that proper condition for growth is created. Emphasis is on providing or creating enabling environment for growth rather than designing developmental programme on techniques that suit only the organization.
Given the strategic role of human capital in the formation, management, growth and sustenance of organizations, there is need for continuous development in knowledge, behaviour and skills of employees especially in telecommunication and financial services industry where information and communication technology and (ICT) underlie profitability, growth and competition. It is against this background that this study is set to examine human resource development for growth and sustainability in the banking industry.
| Project details | Contents |
|---|---|
| Number of Pages | 58 pages |
| Chapter one | Introduction |
| Chapter two | Literature review |
| Chapter three | methodology |
| Chapter four | Data analysis |
| Chapter five | Summary,discussion & recommendations |
| Reference | Reference |
| Questionnaire | Questionnaire |
| Appendix | Appendix |
| Chapter summary | 1 to 5 chapters |
| Available document | PDF and MS-word format |
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