CHAPTER 1
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Do we ever settle to think why some organizations recruit better applicants than others, why some business enterprises are more efficient or perhaps, more effectively organized than others? Why some establishments are more productive than others, why some firms make profit while others are folding up? It is possible to answer the above questions with this simple phrase; lack of requisite skills and failure on the part of management to identify and adequately take care of their inadequacies”.
After recruitment and selection of employees, they need to be maintained and motivated towards achieving the organizational goals. And this can be achieved through training and development of the organizations workforce.
Sound and constructive human capital development facilitates optimization of available potentials and provides opportunities/leverage for better repositioning of an organization to achieve global competitiveness. Hence, human resource development is a pre-requisite for organizational survival, sustainability and success. This fact is reinforced by Chinese wise saying, which says thus;
“If you wish to plan for a year, sow seed
If you wish to plan for 10 years, plant trees.
If you wish to plan for a lifetime, develop men”.
The above, summarizes and underscore the indispensability of human resource development in organizations.
Brief History of the Study
The Union Bank of Nigeria has a long and proud history dating back to 1917, when it first opened its doors for business as the colonial bank. In 1925 it was brought by Barclays, becoming Barclays Bank Dominion, colonial and overseas which it remained until the early 1970s.
In 1971, Barclays incorporated the bank locally in Nigeria as Barclays Bank of Nigeria Plc and sold a significant shareholding to the federal government and the Nigerian public. In 1979 the banks name was changed to the Union Bank of Nigeria Plc, to reflect the change in its ownership structure.
In the early 1990s, the Nigerian government started a policy of privatization of state owned asset, which resulted in 1993 in both the government and Barclays selling their remaining stakes in the bank to the public at large, thus creating a truly publically owned bank.
Since the early 1990s, the bank has enjoyed a period of unparalleled growth, acquiring universal Trust Bank Plc. Broad bank limited and Union Merchant Bank as well as increasing shareholder funds through a rights issue in 2005. The Union Bank of Nigeria now has a network of over 400 branches across Nigeria, a subsidiary in London and offices in Ghana, Benin and South Africa. In 2009, it posted gross earnings of US and 980 million and total assets of US and 8.8 billion. The bank’s management team is headed by Emeka Emuwa as the group managing Director/Chief Executive. Other executive management team members include:
Adekunle M. Adeosun – commercial/retail banking (south) and consumer banking.
Philip Ikeazor – corporate, international/investment banking and treasury.
Ibrahim A. Kwargana – commercial/retail banking (North) and public sector.
Mrs. Oyinkan Adewale – chief financial official.
1.2 STATEMENT OF PROBLEM
The efficient training and development of human resources in an establishment, which Union Bank Plc is not an exception, requires immediate attention because the negligence given to the establishment which will in turn led to the downfall or bankruptcy of the establishment.
This study seeks to investigate if training and development of human resources is practiced in Union Bank of Nigeria Plc, the approaches of training and development of human resources the negative attitudes of management and supervisors on training and development of their sub-ordinates, as well as the impact of modified behavior, attitude and moral on employees in Union Bank of Nigeria Plc.
1.3 PURPOSE OF THE STUDY
The main purpose of this study/research work is to critically define, analyze and clearly identify training and development of human resource in banking institution. And also,
- To ascertain the influence of human resource of Union Bank of Nigeria, Oko branch.
- To determine the types of training available method and place of training in Union Bank of Nigeria, Oko branch.
- Find out whether staff of the bank sees training and development programme as motivating and means of job enrichment and satisfaction.
- Evaluate work performance before and after training programme in Union Bank, Oko branch.
- Determine whether there is any relationship between labour turnover and availability of training and development opportunities in banks.
1.4 SIGNIFICANCE OF THE STUDY
It is important to print out that on completion of this research work, it would be of immense significance to the following group of people:
- Management and supervisors of Union Bank Plc Oko branch. If the management and supervisors of the bank apply the findings and recommendation of this research work, training and development would be achievable in the bank.
- It would also help the management to know how much training and development influences worker’s productivity and performance.
- Researchers: the output of this work will serve as a base for further research in future on related or similar topic.
1.5 RESEARCH QUESTIONS
In order to achieve the purpose of this study, some questions need to be considered. Below are some research questions which have been formulated:
- Do training and development of human resources influence the operation of the bank?
- What type or method of training do your bank adopt?
- Are you motivated after the training and development programme?
- Are you convinced that your performance improve after the training and development?
- Is there any relationship between labour turnover and availability of training and development opportunities in your bank?
1.6 SCOPE/DELIMITATION OF THE STUDY
In this project work, “training and development of human resource in banking operation” is restricted to Union Bank of Nigeria Plc, Oko branch, Anambra state.
TRAINING AND DEVELOPMENT OF HUMAN RESOURCE IN BANKING OPERATION A STUDY OF UNION BANK PLC OKO
