STAFF TRAINING AND DEVELOPMENT AS A TOOL FOR ACHIEVING ORGANISATIONAL OBJECTIVES (A Case Study of Guarantee Trust Bank [GTBank])
This is a research work aimed at critically and objectively examines staff training and development as important tools for achieving an organization‘s objectives with a particular reference to the banking sector in Nigeria. To achieve this, the work it’s divided into five (5) chapters. Chapter one provided a general view on the study, which include introduction the aims and objectives of the study among other thing. The chapter two, which is the literature review, shaded more light on the vital aspect of training and development. Textbooks were referred in other to get related information, quotations were made from these materials chapter three deals with research methodology, the method that data were collected, carefully analyzed and presentation was also made, the questionnaire were collated other administering. Finally, chapter five, which comprises summary, conclusion and recommendation, is also embedded, these the researcher believe could be of immense benefit to any organization that may wish to venture into training and development exercise.
1.1 Background of the Study
Training is effort initiated by an organization to foster learning among its staffs, and development is effort that is oriented more towards broadening an individual’s skills for the future responsibility. (George &Scott, 2012). Training and development are a continuous effort designed to improve employees’ competence and organize performance as a goal to improve on the employees’ capacity and performance. Human Resource Management has played a significant role in the economic development of most developed countries like Britain America and Japan. In a developing country like Nigeria, with its rich natural resources and financial support, one can also experience such economic success if the appropriate attention is given to the development and training of her human resources. Every aspects and activities in an organization involves people. For instance, a manager will not be successful if he has subordinates who are not well equipped with skills, knowledge, ability, and competence (SKAC).
To run an organization, be it big or small, requires staffing the organization with efficient personnel. Specific job skills, ability, knowledge and competence needed in the workplace are not efficiently taught in the formal education. As such, most employees need extensive training to ensure the necessary SKAC to bring out substantive contribution towards the company’s growth. For employees to be flexible and effective in their job, they need to acquire and develop knowledge and skill, and for them to believe that they are valued by the organization they work for, then they need to see valuable signs of management commitments to their training needs. Each new employee must be properly trained not only to develop technical skills, but to make them an integral part of the organization. Training and development is an aspect that must be faced by every organization, and its major aim is to improve the employees’ competencies such that the organization can maximize effectiveness and efficiency of their human resources. It can be an advantage for an organization if they win the “hearts and minds” of their staffs, getting them to identify with the organization (Armstrong, 2009). For staffs to be equipped to perform well, there must be an investment in the training processes. These processes are part of the entire human resource management approach which results in employees being motivated to perform. However, training vary from organization to organization in relation to the quality and quantity of training factors, which may include: the degree of external environment change, the degree of change in the internal environment, current suitable skills in the existing workforce and the level to which the management see training as a motivating factor in the workplace.(Cole,2002).
Several companies address their needs for training in an impromptu and indiscriminate way, training in such companies are pretty much impromptu and unsystematic. Different companies however begin distinguishing their training needs, then outline and execute training exercises in a normal way, lastly evaluate after effects of the training.
1.1.1 Historical Background of GTBank
Guaranty Trust Bank Plc was incorporated as a limited liability company licensed to provide commercial and other banking services to the Nigerian public in 1990. The Bank commenced operations in February 1991, and has since then grown to become one of the most respected and service focused banks in Nigeria.
In September 1996, Guaranty Trust Bank plc became a publicly quoted company and won the Nigerian Stock Exchange President’s Merit award that same year and subsequently in the years 2000, 2003, 2005, 2006, 2007, 2008 and 2009. In February 2002, the Bank was granted a universal banking license and later appointed a settlement bank by the Central Bank of Nigeria (CBN) in 2003.
Guaranty Trust Bank undertook its second share offering in 2004 and successfully raised over N11 billion from Nigerian Investors to expand its operations and favourably compete with other global financial institutions. This development ensured the Bank was satisfactorily poised to meet the N25 billion minimum capital base for banks introduced by the Central Bank of Nigeria in 2005, as part of the regulating body’s efforts to sanitize and strengthen Nigerian banks.
Post-consolidation, Guaranty Trust Bank plc made a strategic decision to actively pursue retail banking. A major rebranding exercise followed in June 2005, which saw the Bank emerge with improved service offerings, an aggressive expansion strategy and its vibrant orange identity.
In 2007, the Bank entered the history books as the first Nigerian financial Institution to undertake a US$350 million regulation S Eurobond issue and a US$750 million Global Depositary Receipts (GDR) Offer. The listing of the GDRs on the London Stock Exchange in July that year made the Bank the first Nigerian Company and African Bank to be listed on the main market of the London Stock Exchange.
In December 2009, Guaranty Trust Bank plc successfully completed an offering of ₦13.165 Billion Fixed Rate Senior Unsecured Non-Convertible Bonds Due 2014 (Series I), being first tranche under the Bank’s ₦200 Billion Debt Issuance Programme.
In May 2011, the Bank successfully launched a US$500 million bond – the first non-sovereign benchmark bond offering from sub-Saharan Africa (outside South Africa), to the international community. The highly successful offering which matures in 2016, went further to show the international finance community’s believe in the GTBank brand.
In 2013, the Bank issued a USD 400,000,000 Euro bond at a coupon rate of 6%; the least obtained by a Nigerian company in the international capital market. The Eurobond was issued under the USD 2,000,000 Global Medium Term Note Programme, which is registered under both Regulation in the United State of America and Rule 144A in the United Kingdom and sold to investors across Africa, America, Asia and Europe.
1.2 Statement of the Problem
Most organization has problems in one way of the other and Guaranty Trust Bank (GTBank) Plc is not an exception one of these problems encountered is that, staffs are not motivated to work so as to put in their best for the efficiency and effectiveness of the organization. This is due to the fact that most of these staffs are not being trained and developed, as they ought to be.
Training and development is very important because it removes deficiencies of employees in an organization. If training is properly done, the organization will achieve its aims and objectives. However, major interest to this study is staff training and development as important tools for achieving organizational objectives.
An organization may have employees with the ability and determination, with appropriate equipment and managerial support yet productivity could still fall below expected standards. This missing link is often caused by the lack of acquisition and by extension utilization of adequate skills and knowledge as well as positive work attitude by employees, which are normally acquired through effective mechanism of manpower training and development. Absence of such staff training and development programs in an organization often manifests tripartite problems of incompetence, inefficiency and ineffectiveness and consequently negatively contributing to individual and firms activities.
1.3 Aim and Objectives of the Study
The main objective of this work is to know how training increases the performance of employees, and the productivity of an organization. Other objectives are:
- to find out whether organizations have training and development programme,
- to find out if the training programmes are conducted for all
- to examine the hurdles inthe implementation of such programmes,
- to find out the practical effects training and development has on performance.
- to identify the weak areas of employee required training to be given to overcome the problems.
1.4 Research Questions
To adequately address the research problem, the researcher came up with the following questions:
- Does GT BANK have training and development programmes?
- Are training programmes conducted for every employee?
- Does Training and Development influence worker’s performance and productivity in GT BANK Kaduna?
- What key internal and external factors influence the impact of training?
- What are the training practices and policies in GT BANK Kaduna?
- What are the major purposes of Training and Development programmes applied in this institution?
1.5 Significance of the Study
The significance of this study lies in the benefit that the findings would provide to many individuals, groups and organization a very good source of literature review material for any study relevant to the topic.
Secondly, organization, especially those that are of the banking sector will certainly find this project very useful in understanding the nature of training and development and its relevance to the employees.
Lastly, it is also believed that the study will be of benefit to the reader who like to have better knowledge of training and development of employees how to harness and reactivate these tools towards meeting the challenges facing the banking sector and the world new economic order at the moment.
1.6 Scope and Limitations of the Study
Although this project is attempting to review staff training and development as important tools for achieving organizational objectives: but in the course of writing, the research will cover GTBank Kaduna. The management and other levels of workers are considered as population for this study. The study will also be limited to library review of relevant literatures and based on collections of documents, books, projects, speeches and other facts through the media.
Usually, it is almost impossible for a piece of work of this nature to be realized without difficulties or limitations. Some limitations were as follow:
Swearing the oath of bank secrecy as one of the banking policies, the researcher was limited to the study as some workers felt uncomfortable responding to interviews (confidentially and indifferences in the bank).
One of the chief limitations of the study is inadequate resources (Finance) to conduct a satisfactory and detailed study of an organization on their training development policies in the organization.
Also difficulty was experienced in getting material like textbooks that will also give relevant information to the researcher.
The time frame in which this research work is to be completed has placed a barrier to how far the researcher can go into sourcing for information.
The school being an academic environment gathering of information was not an easy task considering number of books in the library, couple with other academic activities which must be taken into consideration.
1.7 Definitions of Key Terms
Training: This usually implies preparation for an occupation or for a specific skill; it is narrower in conception than either education or development.Â It is also defined as an organized process by Which Skill and Knowledge are learnt for specified purposes.
Development: Thus usually suggest a broader view of knowledge and skills acquisition than training. It is concerned more with employee potential than with immediate skill.
Organizations: Organization is intricate human strategies designed to achieve certain objectives (Argyris 1960). It is also defined as system of interdependent human being (Pugh 1971).
Staff (Employees): These are group of people working together under a manager or a head. Staff can also be seen as persons employed in any work place.
Training Needs: This is deficiency in skill, knowledge or experience that requires to be taught to enable an employee performs a particular job or task to the required standard.
On-the-Job Training: Is the training program that is given to worker as he is performing the job
Off-the-Job Training: This is the training programme that is given to an employee outside the organization.
Banking Sector: It is a financial institution established for keeping money and valued safely, the money being paid out on the customer’s order
Career Development: Career development is individual perceived sequence of attitude and behaviours associated with work related experience and activities over the span of the persons work life.
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