Effectiveness of Training and Development on Employees' Performance and Organisation Competitiveness in the Nigerian Banking Industry

• Author: Falola, H.O. - Osibanjo, A.O. - Ojo, S.I.
• Position: Department of Business Management, School of Business, Covenant University, Ota, Nigeria
• Pages: 161-170

Bulletin of the Transilvania University of Braşov

Series V: Economic Sciences • Vol. 7 (56) No. 1 - 2014

EFFECTIVENESS OF TRAINING AND

DEVELOPMENT ON EMPLOYEES’

PERFORMANCE AND ORGANISATION

COMPETITIVENESS IN THE NIGERIAN

BANKING INDUSTRY

H. O. FALOLA1 A. O. OSIBANJO1 S. I. OJO1

Abstract: Training and development is indispensable strategic tool for

enhancing employee performance and organizations k eep increasing training

budget on yearly basis with believe that it will earn them competitive edge.

The main objective of this study is to examine the effectiveness of training

and development on employees’ performance and organisation competitive

advantage in the Nigerian banking industry. Descriptive research method

was adopted for this study using two hundred and twenty three valid

questionnaires which were completed by selected banks in Lagos State,

South-West Nigeria using simple random sampling technique. The data

collected were carefully analyzed using descriptive statistics to represent the

raw data in a meaningful manner. The results show that strong relationship

exists between training and development, employees’ performance and

competitive advantage. Summary of the findings indicates that there is strong

relationship between the tested dependent variable and independent

construct. However, bank management should not relent in their quest to

train their staff to develop new ideas that will keep improving and retaining

employee performance.

Key words: training, development, performance, competitiveness.

1Department of Business Management, School of Business, Covenant University, Ota, Nigeria.

1. Introduction

The survival of any organizati on in the

competitive society lies in its ability to

train its human resource to be creative,

innovative, inventive who will invariably

enhance performance and increase

competitive advantage [17], [31], [46].

Training and development is an aspect of

human resource practices that help in

enhancing employees’ skills, knowledge,

and competence capable of improving

employees’ ability to perform more

efficiently [39]. Training and development

play a vital role in the effectiveness of an

organisation [21]. It is one of the most

pervasive techniques for improv ing

employees’ performance enhancing

organisation productivity in the work place

[22]. Employees are the indispensable

asset and key element of gaining

competitive advantage of any organization