THE IMPACT OF TRAINING AND DEVELOPMENT IN THE BANKING INDUSTRY

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THE IMPACT OF TRAINING AND DEVELOPMENT IN THE BANKING INDUSTRY

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND TO THE STUDY

Organizations need training and development to make sure they met with the changing circumstances, more especially in banking sector training and development are needed to cope with the standard required in the banking business. Training and development will increase performance and productivities, employees morals, better coordination of man and materials. It will equally increase the knowledge of workers, skills, attitude and preparing them for future challenges on the job, it will also help in placing the right time. It will reduce the rate of turnovers in banking industries.

1.2 STATEMENT OF THE PROBLEM

An effective training and development is very important for the function of any business mostly in banking industry. The caliber of those that run most of the banking industries have not developed the ability to attract and not developed the ability to attract and maintain competent managers and customers. The nations economy in recent years has been very much depressed. There have been failures in the banking industry. Many banks have failed due to lack of training and development in the banking sector. As a result of these we want to investigate the effect of training and development on:

(a) The level of profit of the banks

(b) The level of fraud in the banking industry

1.3 OBJECTIVE OF THE STUDY

The following are the objectives of the study:

1) To develop an efficient workforce at all level to ensure that corporate objective is met.

2) To ensure better training and more cost effective performance.

3) To prepare an employee to undertake a completely different job from that which he is familiar with.

4) To prepare worker for a higher – level job.

5) To increase productivity in terms of quality and quantity.

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