The study examined the effect of human capital development on financial performance of banks in Nigeria. The specific objective was to determine the extent to which the banks PDW affects the PAT, TR and the NA. The research design employed was a cross sectional survey design. Time series data which comprise PDW, PAT, TR, and NA of quoted commercial banks in the NSE were the secondary data used. Statistical tools of Multiple Linear Regression and student t-test were used for the analysis. The regression model was estimated through the use of statistical package for social sciences (SPSS). The three null hypotheses used in this study were tested at 5% level of significance. The result obtained showed a no effect on PAT and no effect on TR, but a negative effect on NA. The p-value for all the independent variables are not significant. The F-test showed a good fit for the model. The study therefore concludes that banks have not invested adequately on human capital development that is why the effect on financial performance is not significant. Therefore commercial banks in Nigeria are advised to give more attention to human capital development by way of training and adequate welfare to enhance their productivity.
Recently, the death of business organisations in Nigeria is on the increase as business operates in an environment that is embedded with change, risk, high uncertainty, stiff competition, unethical business practices, unfavourable government policies and ignorance of the role of mentors in business development. Mentoring is rapidly becoming recognised worldwide as a highly effective human resource development process. Many organisations have gone through or are currently going through increasing significant change. Generally, people in any organisation react positively to change when they take responsibility for their own development. Mentoring is one way in which organisations can provide this assistance as there is a high degree of trust and mutual regard which will enable the person to become what he aspires to be by realising his or her potential. Mentoring has being identified as an important influence in business development. The major function of mentoring is to promote the mentee’s development in specific areas and to facilitate success in business activities. Mentoring relationship can produce positive development and organisational outcomes and it can sometimes fail due to a variety of causes and problems viz-a-viz lack of participation, absence of leadership involvement, poor planning, setting unrealistic expectation and fuzzy goals. The paper examines the roles of mentoring in business development. It focuses on the stages, forms, reasons, types, roles and characteristics of mentors, fundamental objectives, benefits and keys to mentoring success with a view to accelerate business development through investment in human capital development particularly through mentoring. The paper opines that mentorship and business development offers a wide range of benefits such as welfare, satisfaction, development, progress, feeling rejuvenated in career development, learning how to use new technologies, becoming aware of business issues, methods, strategies or perspectives that are vital to business. Content analysis was used in the writing of this paper. Evidence from the paper on the policies that need to be adopted to improve Nigeria’s business environment includes, the need to address those issues constraining business development. The paper also recommends that mentoring should be based upon encouragement, frank advise, readiness to assist the mentee to acquire needed knowledge, skills and competencies so as to operate functionally in our ever changing business environment, constructive comments, openness, mutual trust, respect, willingness to learn and share ideas and experiences, improve self confidence, job competitiveness and enhanced diversity of the workforce. Moreover, there is need to eliminate negative factors that militate against business growth and development with a view to increase business efficiency. There is the need, therefore for a re-orientation of our businesses because mentoring relationships depends on the people and the character of the organisation concerned. The paper concludes that successful mentoring programs as aid to business development requires proper understanding, planning, implementation and evaluation.
THE IMPACT OF HUMAN CAPITAL DEVELOPMENT AND ECONOMIC EMPOWERMENT ON THE SOCIO-ECONOMIC DEVELOPMENT OF AKWA IBOM STATE, NIGERIA (Published)
Human capital development is an indispensable component of the development process. It is a development strategy aimed at fulfilling the potentials of people by enlarging their capabilities which necessarily implies the empowerment of the people, and enabling them to participate actively in their own development. It also serve a means through which the skills, knowledge, productivity and inventiveness of people are enhanced. This study therefore, examined the impact of human capital development and economic empowerment in the socio-economic development in Akwa Ibom State. The study adopted a historical and descriptive approach in data collection. The study therefore revealed that from 1999 to 2012, the government being the foremost driver of the economy has made a positive impact on the training and retraining of workers in the public sector. This has made the public sector more vibrant, efficient and result-oriented. The study also revealed that aside from training, the government also embarked on elaborate empowerment programme which has helped so many to become self-employed as well as employer of labour. The study further revealed that government failed to give priority need in their training programme to the critical areas in the state namely oil and gas for effective participation of this sector by the Akwa Ibomites. On the strength of this, the study recommended among others that government should embark on extensive training of domestic engineers in the areas of oil and gas in the state. Also government should encourage individuals and private sector to increase investment in human capital and economic empowerment in the state.