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THE PERCEIVED EFFECT OF STAFF DEVELOPMENT ON ORGANIZATIONAL PERFORMANCE IN SELECTED FIRST BANKS IN LAGOS STATE, NIGERIA
Abstract
Most organizations have realized that employees are their most valuable assets which require development in order to improve their loyalty and motivate them and hence increase productivity to achieve their vision. It is in this light that this study investigated the effect of staff development on organizational performance in selected banks in Lagos State, Nigeria. This study adopted a descriptive survey research design through the use of questionnaires. The population of the study comprised 7,616 staff members of First Bank of Nigeria PLC, which was further reduced to 380 personnel as the sample size through the use of a formula derived by Taro Yamanne. Proportional sampling technique was used to select the staff from ten selected branches in Lagos State. The data was analysed using a statistical tool of Regression Analysis with the aid of the Statistical Package for Social Sciences (SPSS version 23.0) at 5% level of significance. Descriptive Statistics was also used to analyse the relevant data. Findings revealed that there staff development has a significant effect on organizational performance. The study concluded that staff development should be held consistently in order for employees to have career advancement and for increased loyalty in the organization, which in turn increases their job performance. The aggregate performance will increase the organizational performance. The implication is that a well-trained staff will have a positive impact on organizational performance as it will add more effectiveness and efficiency to their output and will in turn improve the organizational performance.
Keywords: Staff development, education, training, mentoring, organizational performance.