IMPACT OF TRAINING AND DEVELOPMENT OF HUMAN RESOURCES AS A CRITICAL FACTOR IN THE BANKING SECTOR

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IMPACT OF TRAINING AND DEVELOPMENT OF HUMAN RESOURCES AS A CRITICAL FACTOR IN THE BANKING SECTOR

Abstract

This research work on the impact of training and development of human resource as a critical factor in banking sector a case study of First bank of Nigerian plc main branch Enugu. The main objective of the study is to evaluate the effect of training and development of human resource in bank operation. The population of study which is the employees of First Bank of Nigeria plc main branch and as it stands is a total of 100, while the sample size is 80. During the research process the researcher collected data from two source the primary and the secondary source of data were gotten from questionnaires administered to the employee of First bank plc while secondary data were gotten from textbook, journals, publication and manual. In determining sample size, the researcher used yaro yamene formular. For determining sample size as quoted in Nigeria, n –N/1 + N (e)2 in the act to determine finding the techniques used was descriptive survey and descriptive analysis was based on answer to research quotation that were formulated. On the base of the above finding, the researcher recommended among others that First Bank of Nigeria plc main branch, Okpara Avenue Enugu should implement effectively and progressively any training plans or budget to ensure improvement in banking operation. The management should build good and mutual relationship with workers, so as to create a conducive working environment. In order to encourage workers to put in their best in what they do.

CHAPTER 1

1.1 INTRODUCTION

Many years ago, the concept of training and development were

misunderstood and not given full consideration in most Nigeria organization. Today the situation has change totally, such that many organization, business and non business organization has come to realize the need for training and development of employee as vital for organization development and operation.

Training and development has started since the existence of man, as the action of man is directed on what to do and when to do it. Just as a little child is trained on various ways of walking, standing and sitting, it is done in order to develop the child with skills to adapt to his environment.

1.1 Background of the study

The above statement is applicable to an employee, in order to train him so as to be able to adapt to the environment and organization which he finds himself. With this, it is clear that every organization need to train its employee so that there will be improved growth and productivity. According to Abolo, E.M. (2000), Banking business in Nigeria started in 1892 by African Banking Corporation. The bank was taken over by now standard bank, now First Bank in 1894.

The two expatriate banks dominated the banking scene until 1933, when National bank of Nigeria was established. Many indigenous banks were established between 1929. But most of them failed due to probably, lack of training and development. Only three indigenous banks and the two foreign banks survived the period, by 1952, the first bank ordinance was introduced, it stipulated the minimum capital based and licensing for banks. The period that followed, 1952 to 1962 and 1970, there was no new banks establish in Nigeria, presumably because of the impact of regulations and the civil war (1967 –1970).

The periods of 1959 –1986 witnessed the era of regulation. The central bank of Nigeria was established in 1969 with the aim to promote and integrate the Nigeria financial system. The central bank of Nigeria encouraged the development of money and capital markets. It also encourages the banking industry. Other useful development within the period that affected human resource development in banks is:

a. The companies Decree (1968). Which made it mandatory for all companies in Nigeria, including banks to register locally and b subjected to Nigeria laws?

b. Indigenization Decree (19720, which introduced the system of deliberate Nigerianization.

c. The acquisition of controlling shares in the three big expatriate banks. The period 1986, to date is called the second Banking Boom Era, because of the rapidity with which banks were established due to deregulation of the economy. The government and private sector rely on bank for allocation of human resources. In 1986, banking industry had 12(twelve) merchant and 29(twenty-nine) commercial banks. By December 1990, there was 48(forty-eight) merchant banks and 58(fifty-eight) commercial banks apart from 5(five) development banks established in 1989. A unit banking system meant mainly for rural communities started springing up towards the end of 1990. As at may 1991, there were 120(0ne hundred and twenty) merchant and commercial banks excluding central bank of Nigeria, four development banks, people banks and community banks.

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