EMPIRICAL STUDY OF TRAINING AND DEVELOPMENT AS A TOOL For ORGANIZATIONAL PERFORMANCE: CASE STUDY OF SELECTED BANKS IN NIGERIA

Abstract

Most banks in Nigeria, in recent years are facing the challenges of labour turn over due to lack of job security of their employees. More so, most banks keep downsizing their employees and recruiting new ones as a result of changes in their services and work processes driven by technological trends and competitive environment. Therefore, it is logical for employees to keep changing their methodologies, thus giving room for continuous training and development. The objective of this study was to examine
whether employees’ training and development enhances work efficiency in the banking industry. Primary data were used for the study, which were generated through the use of questionnaires. The study took a sample of 395 respondents from a population of 35,386 from the five banks used as case study. Simple random technique was used to select the respondents. Data collected were analysed using descriptive statistics, and Pearson’s moment correlation. Multiple regression was employed to test the
hypothesis. Major findings indicated that there is a positive correlation among all the variables. Result of model summary shows that the independent variables account for 39.1% of the variation in organizational performance. The result in the coefficient table however, indicated that only three variables were significant: organizational commitment to Training and Development, frequency of Training and Development and reward for best performance. The study therefore concluded that for training and development to have significant impact on organizational performance, employees need to be motivated during training programs. It was recommended that banks should introduce reward system for outstanding performance so as to motivate
employees to always put in their best during each training session.