Training and Development Strategies: Approaches for Performance Enhancement in Goal Oriented Firms. (A Survey of Commercial Banking Firms in Nigeria) (Published)
This research paper is a critical analysis of Training and Development Strategies; as approaches for performance enhancement in goal oriented firms with emphasis on Twenty-one commercial banking firms in Nigeria. This study adopted simple empirical survey method or quasi-experimental method which places premium on survey of sample. Both primary and secondary sources of data collection were utilized in a bid to attain the necessary result. Five point Likert rating scale questionnaire were used in obtaining the opinions and views from respondents (i.e. Strongly Agree, SA (5), Agree, A (4), Undecided, U (3), Disagree, D (2), And Strongly Disagree, SD (1)). For secondary sources of data textbooks, journals, and annual reports of 21 commercial banking firms’ and stock exchange fact book, were used. The sample size for the study is 398 derived from the employee population of 21 commercial banking firms totaled of 64, 846 as at January, 2017. This was determined using Taro-Yamane’s formulae. Bartlett’s test of Sphericity and Kaiser-Meyer Oikin measure of sampling adequacy, construct validity test determination and Cronbach Alpha for reliability test determination was applied in this study. Bowley’s Allocation formula was applied in determining the individual commercial banking firms sample size. Multiple Regression test was used in processing the three (3) formulated hypotheses. The study findings revealed that Training and Development Strategies adopted by commercial banking firms in Nigeria for employees have positive relationship on productivity of the banking firms. Again, Training and Development have enhanced employee’s skills acquisition and knowledge base of employees. The last finding showed that training and development programme/strategies have impacted on organization employees by modifying their behaviors and their work attitudes to conform to set standard and norms of the commercial banks for service delivery and sound operations. The study recommendations are that, executive management of the commercial banking firms in Nigeria should also ensure that operational analysis, organizational analysis, individual analysis is periodically carried out to determine training and development needs in areas of skills inadequacy, knowledge gap, attitude and behavioral aspects to warrant proper Training and Development hence customers of the banks needed to be treated with absolute care in order to attract higher market share and profits by banks. Again, the study recommended emphasis on e-product s training for commercial banking firms in Nigeria to enhance sustainability and competitive advantage hence this will enhance growth in a positive direction especially in this era of globalization.