This study examined the effectiveness of training and development on employee's performance. To access the situation, well structure questionnaire were administered using stratified random sampling techniques in other to cover the branches and hierarchy of staff of the bank used for the case study. The data collected were analyzed using simple table percentage and Chi-square statistical techniques. The result that provision of training by the bank has enabled the employee to increase ultimately, prepare employee adequately to assume higher responsibility on their job. Little wonder why contemporary organizations are now spending huge amount of money on employees training and development in order to cope with the challenge posed by the dynamic business environment.
1.1 Background to the Study
Management practitioners and researchers have gathered information through the research conducted on the effectiveness of training and development on employee performance in the past the fact that human resources are the most dynamic of the entire organization's resources calls for proper attention to be given to it by the management if they are to realize full organization goals. Training and development are important tools employed today's organization to achieve their inward organizational objectives for growth and achievement. It leads to emergence of new career opportunities.
The behaviour and attitude of employee's must be change positively to achieve an acceptable result. Employees want to use to a change for the better in their plc of work, they want to be skillful and have a wider knowledge of techniques which may be required in the' future to meet: anticipated future needs of the organization.
1.2 Statement of the Problems
According to Craven (1997), there is some link between training and good performance but the direction is difficult to identify. Nonetheless, what is known for sure is that the training and development of staff is relevant in better performing companies. The difficulty in identifying the correlation between training as well as performance is attributed to the determination of changes in performance. Measuring knowledge acquired is easy to determine. But to measure skills and attitude development is a different aspect to consider (Craven, 1997). This evaluation needs to be done over a long time period and needs to be carried out by those working with the candidate, to evaluate how the delegate performed before and then after the training process.
1.3 Objective of the Study
Primarily, the target of the study is to serve the effectiveness of training and development on employee's performance; the other objectives are given below:-
i. to examine if training and development really boost the performance of employee;
ii. To examine the relationship between training and development of employees and organization productivity; and
iii. To investigate if training and development of employees enhance their effectiveness.
1.4 Research Questions
(a) what is the correlation between training and development and employees performance?
(b) Does training and development improve productivity of the organization?
(c) Does training and development of employees enhance their effectiveness?
1.5 Research Hypothesis
(a) Training and development have a significant relationship on employees performance.
(b) Training and development Improve productivity of the organization.
(c) Training and development of employees enhance their effectiveness?
1.6 Significant of the Study
This topic is a very broad topic and very much important in any organization. Every organization admits that employees are the main assets so their top priority is to train the employees to achieve their goals. The main object of a manager is to discover a problem in an organization and after that he decides which type of training is required for which employer. In general training and development helps increasing productivity of the employees, team spirit, organizational culture, organizational climate, quality and health and safety.
Hence the study on training and development will have good impact on individual organizations and society as a whole subsequently, it enhance better performance through an effective training and development programme.
1.7 Scope and Limitation of the Study
The scope of training and development activities of an organization depend on the policy and strategy of the organization. There are many organizations in the commercial field that carry out the minimum of staff training and development because, as a matter of policy, they prefer to recruit staff who are already arrived or professionally qualified. These organizations are prepare to pay he top mark rate for is skill staff and put into recruitment.
For the fact that training and development is wider in scope, the researchers limit his work to First Bank Nigeria P1c, despite the considerable number of Banks in the industry: data information to the topic shall be gathered from among cultured staff of the bank for appreciable generalization of result.
Therefore, in adequacy in financial are constrained tie distance an time to meet and discuss with the employees, these will entails a good foundation for further work on training and development for natural and business organization.
1.8 Historical Background
First Bank of Nigeria P1c remains one of the Africa's most diversified financial solution providers. Since its establishment in 1894, the bank has consistently met growing market demands for financial services, though process of continuous re-invention. Its current customer centered architecture combines service delivery through traditional branch outlet and emphasis on person-to-person contact, with the ease of the automated delivery channel, to create a customer service experience that is training on choice, convenience and a mass customization. In the over one century since its establishment, the bank has continued to build economy that have been strategic to the well- being and growth of the Nigeria economy.
Consequently, it has remained the most profitable bank franchise In Nigeria with group profit after tax of 20.4billion in the financial year ended March 31, 2007. Underpinning this success is the Banks strategy, with its focus on the two critical imperative of modernization and growth.
With 408 business locations as at March 31, 2007, the Bank has one of the largest domestic sales networks in Nigeria, along-line real time. As a market leader in the financial services, sector, First Bank pioneered initiatives in international money transfer, master card, leader in term of value ad volume of ATM transaction in the country.
The Bank has nine (9) local subsidies and a full-fledged subsidiary In the United Kingdom as well as a representative office in South Africa. First bank's growth strategy is hinged on continued network expansion, product development, mergers and acquisition and growth of its international footprint. In furtherance of this strategy, and in line with the imperatives of industry consideration, the Bank In the 2005/2006 financial year acquired it investment in banking subsidiary, FBN (Merchant Bankers) Limited and another Bank- MBC International Bank PIc. Furthermore, the bank is currently exploring alliance with key prospect in the industry with a view to creating the largest bank in West Africa and one of largest on the continent.
In the last decades, by playing key roles in the Federal Government's Privatization and commercialization scheme, First Bank has led the financial of private investment in infrastructure development in the Nigeria economy.
The business of the bank is operated along two market segment/ strategic Business Unit (SBU's) Corporate Banking, and Regional Directorates (Lagos and West, North and South).
First Bank got listed on the Nigeria Stock Exchange (NSE) March, 1971 and has won the NSE's Annual President's Merit Award for the best financial report in the banking industry, twelve times.
1.9 Definition of Terms
Training: it implies preparation for specific skill occupation, very narrow conception than education, learning and development etc.
Education: those are basic instruction in knowledge and skill designed to enable participant to make the most of his as a whole, it is very personal and board based.
Learning: this is a situation to acquire knowledge on specific phenomenon. Its continues in nature.
Development: this is embracing and long-term programme which brings changes and the need of an organization as whole.
Employee: this is resources or organization i.e. human resources that are employee and paid to worth determinable or under determinable period.
Performance: it refers to jobs done, i.e. work done and being paid for a performance of worker at particular job assigned to him/her.
Organization: this s social activity that comprises group of people and it is an organization that creates room for sentence of people and individual;
Objectives: at the early stage is to achieve the existence an operative of organization.THE IMPACT OF TRAINING AND DEVELOPMENT ON EMPLOYEE'S PERFORMANCE