THE EFFECT OF HUMAN RESOURCES MANAGEMENT ON THE OVERALL PERFORMANCE OF A FIRM (A Case Study of Zenith Bank International, Victoria Island, Lagos), Nigeria
This project work is carried out in an attempt to complete the DEGREE AND DIPLOMA Programme’s requirement. The case study being Zenith Bank International Limited. The project work is aimed at seeing the superior impact of Human Resources Management on the overall performance of establishments. However, the project is patterned into five (5) distinct chapters. The first chapter dealt with the study. It also reveal the statements of problems objectives of the study, scope and limitation ol the study and mention is equally made of definitions of terms in Human Resources Management. Similarly, chapter two dealt extensively with the literature review where in definition of Human Resources Management, were given by many authorities. Mention is equally made to the gradual development of Human Resources performance and explanation is given to the various function of Human Resources to include, appraisal Transfer and the series of motivational tools employed in Human Resources Management i.e. fringe benefits, promotion and Housing e.t.c. In addition, chapter three dealt with the research methodology and this also adopted the technique of personal interview. The population study was centered on the personnel department. The Administrative Department and the junior staff group (informal group). A brief explanation on sampling size and instrumentation was made. Meanwhile, chapter four dealt with data collection and analysis with the aid analysis was a successful one, having done that much, observation is made to give one’s sentimental conclusion on the data collected. Finally, the last chapter however gave the final notion of Human Resources Management in an organisation interviews were drawn from the previous chapters to result in conclusion and recommendation. The superiority of the resources exhibits itself having observed the negative and an expected situation of my case study.
Today, there is an increasing demand for knowledge and information by companies that wish to succeed. This has necessitated so much spending on training and development of people to achieve organisational objectives. Top management of organization has come to accept that ‘people not cash, building and equipments are the critical differentiation of the business enterprises, though it is clear that of all economic resources human resources is the least effectively and efficiently utilized. Therefore, investment on people have to be properly managed in order for top management to harness the opportunities of the corporate environment and to be successful in their skill base beyond traditional financial into area such as non financial performance and general management which also includes employees management.
According to Oyewale (1997) Management can be defined as an effective management of human resources which is an essential function in every organisation. It can also be defined as the fruitful management of human resources, thus, managing people is an important and basic activities of the management in every organization. The involvement of managing points out that it employs planning, directing, organizing, controlling and the motivation of human resources to ascertain the giving off of the employee’s best. Finally, it is an activity that is required and must be performed in both government (Public sector) and private (commercial sector). It is a perpetual and inevitable process in every society,
Human resources referred to both quantity and quality of labour that is exhibited in the form of mental capabilities physical and effort over all technical know how of the organizational actors.
Human Resources Management deals with the method through which an organization resources sustains, motivates and even discipline its human resources to facilitate the maintenance of human resources to facilitate the maintenance of human relationship and the physical well being of the employees and above all for attaining the organizational objectives. It is believed that the responsibility of the personnel department in an organization is to present measures that are aimed at enhancing the effective management of human resources in attempt to boost the overall performance of the firm.
An organisation has within its capacity several resources which can be coordinated towards achieving the goals and objectives of the firm. These resources are human, financial and material resources. Of all these resources, human resources effort on the overall performance of the organisation under review cannot be over emphasised.
The study is based on the effect of human resources management on the whole performance of the firm. A case study of Zenith International Bank Limited Victoria Island Lagos, Nigeria.
As a large organisation, some of the problems associated with human resources management includes;
- How management will ascertain the labour size that will actualize its set goals and objectives
- How to use human resources in encouraging the perpetual existence of the firm
- To know the general performance and impact of human resources on the overall performance of the organisation
- To determine the significance of human resources in the actualisation and realisation of organisational objectives
- To know the best method to motivate human resources to achieve desired goals.
It should be noticed that without human resources the organisation cant solemnly perform neither can its objectives be attained.
The objective of this study is to draw the attention of management, employers and researchers to the effect that proper human resources management can have on the overall performance of firm.
The specific objectives are;
- To know the significance of human resources in the actualization and realisation of the organisation mission and vision.
- Examine the pre-eminence of human resources in the organisation
- To draw conclusion from the statistical measure obtained.
- To know the general performance and impact of human resources management of our firm.
- To determine if human resources management can play any motivational role in business.
This research work is significant because it will be an addition to the previous investigation being conducted in the area of human capital. However, researchers on human resources management in the past years were mostly concerned with the developed countries which may not be directly appropriate to Nigeria business.
This study will reveal the secrete behind the survival, growth and development of the organisation (Zenith Bank) and the effectiveness of the personnel department in the firm. The findings would also give a better due to test human resources strategies and suggest solutions as to how human resources can be effectively utilized and coordinated to enhance high level of job performance. This could in turn lead to increased productivity.
The findings of these research work would equally be of great importance to Human Resources managers, administrator and others who are connected with the recruitment, selection, employees welfare, discipline, motivation, training, placement and enhancement of the level of performance in Zenith Bank and other related organisation because from the result of this study, they would know how to relate, coordinate, direct and motivate employees more.
Research in Nigeria has been hindered due to the many problems, hence, as a student writing on research project, this work has faced problems in the area of gathering information and necessary data for successful completion of the research work. Due to and as a consequence of both financial and time constraints I was unable to research all the staff of zenith, international Bank: The following problems.
- Limitation in time frame
- Financial constraints
- Confidentiality syndrome
- Other academic pursuit
Has made the information gathered to be limited to the following officers. The following officers;
- Assistant General Manager (Personnel)
- Assistant General Manager (Administration)
- A junior staff Representatives.
I am going to explain some terms as used in this research work for the purpose of clarification they are as follows:
- Organisation: This is described as an abstraction indicating pattern of relationship and expected interaction in a formal work setting. Organisation can be classified into two namely: and formal organisations and informal organisation. By formal organisation we mean the planned pattern of group Co-operative relationships made to achieve a common purpose while informal organisations is any human group interaction that occurs spontaneously and naturally without conscious design.
- Motivation: This could be seen as a instrument employed in a business organisation to encourage the employees in order to give off or render their best in an attempt to ensure the realisation of the aims and objectives of setting up the organisation,
- Financial Resources: This consist resources in form of capital (money) and it entails the long aim loans working capital and short term loans etc.
- Material Resources: this refers mainly to raw material other materials that are indirectly used up in the production processes.
- Energy Resources: This could be in form of machinery, vehicles and electricity that foster or enhance the production of goods and services.
- Human Resources: This has his major role in the labor market and any other thing that has to do with man within an organization and it components is the workers or employees. Fairthurst (1986) in his work elaborate on the characteristics of these resources, pointing out the importance of Human Resources over other resources within the organization.
Those attributes are as follow:
Human resources availability are scarce to the want they satisfy. No society’s capacity to produce goods and services was yet been adequate to satisfy all, because virtually infinite human wants are constrained by the limited resources. Choices about the use of resources in production inevitably arise.
Generally all resources are scarce; hence, the feature of human resources will be scarcity. Another attribute of human resources is that it behavior cannot be defined solemnly an monetary term people say ‘money’ is not everything this assertion explains why workers will not trade personnel reputation and dignity for money alone
The scope has been well defined. Human Resources Management are the focus. The area of catchments is Lagos State and the companies selected will serve as samples. The key issues to be examined are limited to the effect of human resources management on the overall performance of a firm.
This research comprises of five chapters
Chapter one talks about general introduction and chapter two examines opinion of experts on the subject through a literature review.
Chapter three covers the research methodology, instruments and validation techniques.
Chapter four highlight data gathered analysis of such data and inference from the analysis.
Chapter five deals with summary of findings and recommendation on the work done.
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