MANPOWER TRAINING IN FINANCIAL INSTITUTION (A CASE STUDY OF ORIENTAL INSURANCE OF NIGERIA PLC ENUGU)
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This research study is an attempt to X-ray and given an indepth analysis of the importance and effectiveness of training programmes in oriental insurance of Nigeria Plc. Training is a vital and necessary activity in all organization, it plays a large part in determination, it plays a large part in determining the effectiveness and efficiency of the organization. Therefore, every organization should continually train its employees for attainment of its goals and objectives.
For the purpose of this research of the researcher made use of data collected through primary and secondary sources primary data were collected by the researcher himself directly from oriental insurance of Nigeria, Plc through oral interview and questionnaire.
In addition, the data collected were analysed. In analyzing the data were first presented in tables and them interpreted and analysed graph were also used in some cuses to demonstrate result.
The finding disclose that training programmes are available and that every employees benefits from the programme in the company. Thus, in conclusion the researcher emphasizes the need for continuous training of employees.
The purpose of this research is evaluate manpower programmes with view to find out whether they exit and how effective they are in the company.
It is hope that recommendation of this research work will be used to eventual insurance of Nigeria Plc and as well as other industries.
The research lark was presented in pure chapters chapter 1 deals with introduction which contain background of the study, brief history of oriental bank of Nigeria Plc, statement of study, statement of hypothesis, delimitation, scope and limitation of study and definition of terms. Chapter 2 deals with literature review. Chapter 3 deals with design and methodology. Presentation and analysis of data are presented in chapter 4 while findings, recommendations and conclusion are presented in chapter 5.
1.1 Background of the study
1.2 Statement of the problem
1.3 Objectives of the study
1.4 Significance of the study
1.5 Statement of Hypothesis
1.6 Delimitations, scope and limitations of the study
1.7 Definition of terms
REVIEW OF RELATED LITERATURE
2.1 Definition and meaning of training
2.2 Objectives of training
2.3 Evaluation of training
2.4 Principles and techniques of training
2.5 Methods of manpower training
RESEARCH DESIGN & METHODOLOGY
3.1 Sources of Data
3.2 Interview Question
3.3 Samples used
3.4 Methods of investigation
3.5 Treatment of data
PRESENTATION ANALYSIS AND INTERPRETATION OF DATA
FINDINGS RECOMMENDATIONS AND CONCLUSION
BACK GROUND OF THE STUDY
The importance of human resources in an organization cannot be over-emphasized. Every organization cannot depend more on this resources for attainment of its objectives. However, the objectives cannot be achieved unless the organization is made up of the employees who have skills, knowledge and abilities to work. Although employees may have the abilities, skills and knowledge but in the long run, they may find it very difficult to cope with their jobs due to many factors such as organization charges, job charges, technological changes and so on.
Therefore management involves manpower training and development as one of its various activities. When workers are employed they are due for retirement but they are being trained in order to increase their abilities, skills and knowledge.
Experience has shown that may employees have failed in organization because their need for training was not identified or provide for as an indisperiable part of management function. However, employees are not just trained for their own benefits only, but the organization manpower training program is a very important activity management afford to miss because of its various objectives. A lot of reasons explain why organization carryout manpower training.
- To improve the quality of output
- To improve the quantity of output
- To lower the costs of waste and equipment maintenance
- To prevent turnover, absention and increase employees job satisfaction
- To prevent employees absolence
Considering the benefits of manpower training mentioned above, one is forced to stay that manpower training is indispensably necessary for attainment of organizational goals. A substantial amount of money is needed for his program but it is regarded as money well invested because of its various benefits.
Infacts the importance of manpower training cannot be over emphasized. It pays a lay part in determining the effectiveness and efficiency of the organization.
HISTORICAL BACKGROUND OF ORIENTAL INSURANCE CO-LTD
Oriental insurance Co-Ltd of Nigeria Plc was granted and licensed by the federal minister of finance with the authority of the president in council on 12th June, 1987, The oriental insurance started full operation with share capital of twenty is full indigenous. It is owned by Nigerian citizens, associations, ANAMBRA State Government, Enugu State Government and Ebonyi State Government.
1.2 STATEMENT OF THE PROBLEMS
Some organization perform better than others
Training of manpower is not considered necessary.
Organization training some category of employees.
Manpower training have really effected oriental insurance company achieve its goal.
Selecting of worker to be training of worker trained are normally done by the management.
The head office of the oriented insurance is located at a city. The oriental insurance is located at a city. The oriented insurance is controlled by Board of Directors.
The Board of Directors is made up of eight members, However, the day to day management of the bank is in the hands of the management. For now the oriental insurance has branches in Enugu, Onitsha, too at Lagos, Nnewi and Aba. However, more branches are being planed for Kano and other major cities in Nigeria. The branches are headed by branch manager.
1.3 OBJECTIVES OF THE STUDY
Following the problem already stated above it is the objectives of this research to determine the following.
To determine the training needs of employees of oriental insurance
To find out the effects of training excersis on the employees in the financial institutions with particular refereale to oriental insurance.
To asses the performance of employees who have been trained.
To ascertain the category of employees who benefited and how often.
They benefited from manpower training program
To determine the factors that rultate against effective manpower training programe
To find out whether employees and encouraged to attend these training programes and ways they are being encouraged.
Finally, the researchers would recommendations that would be useful for the company in planning and execution of training programme.
1.4 SIGNIFICANCE OF STUDY
For the manpower programme to be effective, its objectives, benefits and processes most be clearly understood from a utilit taricio stand point.
Therefore, if properly done, it will be used as a means of increasing effectiveness and efficiency of workers for attainment of the organizational goals.
Thus, the finding and recommendation to be made from this study will be very usefull to the students of insurance department and others in the related field. Who would head personnel departments of various organization. The study will also be useful to the institution in terms of implementation and subsequent research by the institution management it will also be very useful to both students and researchers who will untale research on manpower training and other topics on human resources management.
1.5. STATEMENT OF HYPOTHESIS
Training of employees in oriental insurance if necessary is for the attainment of organizational goal.
HO Training of employees in oriental insurance is not necessary.
1.6 DELIMITATIONS SCOPE AND LIMITATION OF THE STUDY
In carry out this research, the researcher encountered numerous problem. But it is the intention of the researcher to maintain just very few problems that affected this research work.
- FINANCE: Finance was the greatest …………
the researcher encountered in writing this research, so it because necessary for the researcher to limit his spending in the project to the size of his meager purse.
- TIME: Time was also another problem that affected this research. The research was just one of courses that need equal attention of the researcher. Period of normal lectures and other assignment share the same term with the researcher yet it is no exaggeration to say that more than 30 percent of the available for the researchers studies was spent on this work. The researcher missed wordier to keep appointment connected with this research.
- RESPONDENT: Although the researcher got a good percentage of responses to this questionnaires, it was not easy for the researcher to convince them.
The researcher also tried as much as possible to establish cordial relationship with the public relation officer, senior manager (personnel) and other personnels is the company inorder to get concrete information from them.
1.7 DEFINITION OF TERMS
- DEVELOPMENT : Deals with the activities undertaken to expose an employees to perform additional duties and assume positions of importance in the organizational hierarchy.
- EFFECTIVENESS: Means doing the right thing
- EFFICIENCY: Means doing it right
- MANPOWER: All employees in an organization from chief executives officer down.
- ORGANIZATION: An economic establishment set up with the aim of maximizing profit.
- PRODUCTIVITY: A measurement of the efficiency of production, a ratio of output to input let 10 units per man hours)
- training: The systematic process …………
attering the behaviour of employees to increase organizational goals.
- EVALUATION: The weighing of an individuals fitness for a job in term of the job duties of requirement.