ABSTRACT
This study is focused on Manpower training and Development in the Nigerian Banking Industry: A case Study of Central Bank of Nigeria Enugu.
The objectives of the study among others include.
(1) To determine if regular manpower training and development leads to a significant increase in the operating costs of Central Bank.
(2) To find out if successful manpower development programmes contribute to the success of the Central Bank. Based on these, 4 research questions and 3 hypotheses were formulated. Extensive literature review on textbooks, journals, and material on the area of the study were carried out. While primary data were sourced from respondents, which form the sample of the study. This sample included Junior and Senior staff of the case organization. The data collected with open and close ended questions were presented, analyzed and interpreted. The hypotheses formulated were tested using chi- square. Based on the analysis the following findings were made. The manpower training and development of central Bank and indeed undertake manpower training development, this improves staff job performance. In the view of the above findings recommendations on how improvements can be made were offered. The researcher concludes that if these recommendations are carried out, the quality of service offered by the bank will improve and the bank will grow and survive.
CHAPTER ONE INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The task of managing the human component of the business is central and most important task, because the success of any enterprise depends entirely on the effectiveness of its human resources on their job. Human being per se is not a “resource”. He becomes a resource only if trained, developed and allocated to productive work.
No enterprise can be guaranteed a permanent place in our highly competitive society and no manager lasts longer unless he keeps his business competitive by way of training and development. The main part of any training and development programme is directed towards preparing individuals to meet future needs.
All activities of any enterprise are initiated and determined by the persons that make up the organization and the success of these activities depends on the competence, motivation and general effectiveness of its work force. A growing number of managers recognize that they can hope to find a major and lasting competitive advantage not in
superiority of their plant and products, but on the quality and training of their people.
Effective manpower training and development enables an organization to move from an inefficient (to a more) productive situation, provided the important and appreciating resources are there. Amongst other factors, manpower training and development help employees and management adapt to the demands of a dynamic world of rapid social, technological, political and economic changes.
Training and development are activities aimed at helping employees overcome their limitations. An organization may save money recruiting trained individuals. When organization undergo major changes, training and development activities often are necessary to help employees make the transition to a new way of doing things. Redesign work around teams is one type of change that creates high demand for training and development (Ezigbo 2003).
Development is necessary and a prerequisite for individual, organizations, and the society.
(Ezigbo 2003), training is attaining specific detailed and routine Job skills and techniques. They opine that development is the broader scope of improvement and growth of abilities, attitudes, and personality trait. Development is required to meet technology advances and to achieve greater personal satisfaction. People become developed when they have acquired the necessary education and training that could enable them exhibit growth in abilities, attitudes, and personality trait. As people become developed, they have a greater sense of dignity and worth which will’ make them to be more valuable to their employers and the society in general.
Training and development are essential ingredients for enviable growth of any vocation and the case of the Nigeria Banking Industry is no exception to this obvious fact.
The pursuit of training and development should be continuous, particularly in the world of vast challenges posed by ever changing trends of development in the field of science and technology. This assertion clearly demonstrates how dynamic our social, economic, political and technological environments could be, and it is the role of banking industry
to respond to development in all spheres of human endeavors, hence manpower development in banking industry should also assume a dynamic setting.
Manpower Development in Nigeria Banking Industry responds to developments and practices in the banking industry in the country.
The issue of manpower training and development equally applies to Central Bank of Nigeria which started in 1912, when the nationalists request for Central Bank of Nigeria (CBN) was not granted.
However, with the dawn of independence in most West Africa Countries, these countries, started to establish their own Central Banks to help in managing their economies. Central Bank of Nigeria (CBN) was established in 1959. It is a government-owned bank that carries out the major financial operation of the government.
The Central Bank of Nigeria, Enugu Branch, is located at Garden Avenue and it is an affiliate to the Central Bank of Nigeria, located at Abuja.
FUNCTIONS OF CENTRAL BANK OF NIGERIA (CBN)
The functions of Central Bank of Nigeria (CBN) include the following:
Every independent country now has a central bank. The Central Bank is mainly established to carry out financial transactions of the government. The functions of the Central Bank include the following:-
Issue of currency
The central bank is the only bank with the sole authority to issue notes and coins on behalf of the government. The quantity of money issued is regulated by law. The supply of money is influenced by the general price level and economic activities. The notes issued by the central bank reach the people through the commercial banks.
The responsibility of the CBN as the sole issuer of the Nation’s currency notes and coins bestows upon the bank the control of the volume of money in circulation in the economy. Despite the huge amount of money the Central Bank commits in the training and development of its staff (both junior and. senior yet the bank suffers some manpower problems
In the light of the above, therefore, the researcher seeks to examine the manpower training and development in the banking industry with particular reference to the Central Bank of Nigeria, Enugu Branch.
1.2 STATEMENT OF PROBLEM
Despite the relevance of manpower training and. development in Central Bank, the industry is found with a lot of manpower problems. Some of these problems can be identified. These are:
1. Delays in the relative instruction by the Bank for its workers to training; and
2. Workers are ineffective, and inefficient, following these problems, a number of questions have, arisen, thus:
(a) Thus CBN give train and. manpower development its due attention?
(b) Does regular training and development lead to a decrease in the operating costs of the Central Bank?
(c) Can successful manpower development programmes contribute to the success of Central Bank?
These and many more are the central task of this research work.
1.3 OBJECTIVES OF THE STUDY
The objectives of the study are
1) To examine the training and development available to the staff of Central Bank.
2) To determine if regular manpower training and development leads to a significant increase in the operating costs of Central Bank.
3) To find out if successful manpower development programmes contribute to the success of the Central Bank.
4) To find out whether staff of the Bank see training and development programme as motivating and means of job enrichment and satisfaction.
5) To evaluate work performance before and after training course.
6) To make recommendations where necessary to Central Bank in order to make its human resources training and development more meaningful.
1.4 RESEARCH QUESTIONS
In this study, the following questions have become compelling
1) How does manpower training and development of Central Bank workers influence on the level of their performance?
2) How does manpower training and development of the central bank workers constitute a motivation?
3) How does manpower training and development of central
Bank have any effect on labor turnover?
4 How does regular manpower training and development of Central Bank lead to a significant increase in operating cost of the Bank?
1.7 THE RESEARCH HYPOTHESES.
Ho: Manpower training and development does not improve, the level of job performance of the staff of the Central Bank.
H1 Manpower training and development lead to improve the level of job performance of staff of the Central Bank.
Ho2: Regular manpower training and development does not lead to a decrease in the operating costs of Central Bank.
Ho2: Regular manpower training and development lead to a decrease in the operating costs of Central Bank.
H2: Regular manpower training and development leads to a decrease in the operating costs of Central Bank.
Ho3: Training and development opportunities have no positive effect on Central Bank workers motivation. Training and development opportunities have positive effect on Central Bank workers motivation.
1.6 SIGNIFICANCE OF THE STUDY
This study is no less important considering the priority that was accorded to manpower development in Banking Industry. Good manpower training programmes seek to achieve among other things, efficiency in manpower development in the banking industry, provision on-the-job training for all categories of staff and the standard and quality of service rendered by the banking company’s staff is improved. The need for the expansion of manpower development activities in the banking industry has been of paramount goal for both the government and the banking industry.
This study will help the management of Central Bank of Nigeria to The quality of its Staff. The study will be of benefit to readers who will engage in writing on a related topic.
Above all, the researcher will gain an invaluable experience in research writing.
1.7 SCOPE AND LIMITATION OF THE STUDY
This project work concentrated on manpower training and development in Banking Industry with particular reference to Central Bank located at Enugu. It equally looked at both Junior and Senior Staff of the organization.
This research is constrained by the following:
FINANCE: 1 was unable to cover all the branches of the Central Bank due to the Economic hardship facing the nation presently.
CONSTRAINT: The time provided for the execution of the study is rather too short for a through and detailed research on this topic.
LACK OF CO-OPERATION FROM RESPONDENTS: Some of the respondents who are in a position to give the researcher relevant information refused doing so believing that information should not be disclosed. Some of them even, feed the researcher with wrong information.
1.8 DEFINITION OF TERMS
In order to understand the operative meanings of some focal terms, they z defined.
1) Training: Training is concerned with the acquisition of knowledge and skill needed in the operation of a particular job.
2) Manpower development:- Manpower development is a systematic process of training by which individuals gain and a knowledge, skills, insights and attitudes to manage works actively.
3) Central Bank: This is government-owned bank which helps control and supervise the entire monetary and financial system of a country.
This material content is developed to serve as a GUIDE for students to conduct academic research
MANPOWER TRAINING AND DEVELOPMENT IN THE NIGERIAN BANKING INDUSTRY (A. CASE STUDY OF CBN ENUGU)
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