EVALUATING THE impact OF TRAINING ON ORGANIZATIONAL PERFORMANCE
1.1 INTRODUCTION TO THE STUDY
Training of employees has become a crucial concern for modern organizations seeking expansion. To attain this fundamental goal of growth and profitability, both management and employees must enhance their contributions to the firm. This is because an organization's performance is dependent on the aggregate performance of its people. According to Garavan, Costine, and Herathy (1995:47), businesses facing the future must evaluate a variety of crucial variables. This alone suggests that the success of an organization is contingent on the presence of qualified workforce, i.e. those who work to attain the organization's goals.
Training is an organization's initiative to stimulate learning among its employees, whereas development is primarily focused on enhancing an individual's skills for future responsibilities. (George & Scott, 2012). Training and development are ongoing endeavors with the purpose of enhancing the capacity and performance of workers. Human Resource Management has played an important part in the economic growth of most industrialized nations, such as Britain, the United States, and Japan. In a growing nation like Cameroon, with its abundant natural resources and financial assistance, it is possible to achieve economic success if the nation's people resources are developed and trained appropriately. People are involved in all elements and operations of an organization. A manager will not be effective, for instance, if his subordinates lack the necessary skills, knowledge, ability, and competence (SKAC).
No of the size of the business, it must be staffed with competent individuals in order to function. Formal education does not effectively teach the specific job skills, abilities, information, and competence required for the workplace. Consequently, the majority of employees require significant training to acquire the essential SKAC to make a substantial contribution to the company's success. For employees to be flexible and effective in their jobs, they must gain and grow knowledge and skill, and for them to believe they are valued by the firm, they must observe valuable indications of management's dedication to their training needs. Each new employee must receive adequate training not just to increase their technical skills, but also to integrate them into the organization. Every organization must deal with training and development, whose primary objective is to enhance employees' skills so that the organization may maximize the efficacy and efficiency of its human resources. An organization might benefit by winning the “hearts and minds” of its employees, causing them to identify with the company (Armstrong, 2009). It is necessary to spend in training programs in order to equip employees to function effectively. These practices are a component of the overall human resource management strategy that motivates employees to perform. However, training varies from organization to organization in terms of the quality and quantity of training factors, such as the degree of external environment change, the degree of change in the internal environment, the current suitable skills of the existing workforce, and the extent to which management views training as a motivating factor in the workplace (Cole, 2002).
One could add that training is a series of activities in which practitioners, managers, or would-be managers are aided in enhancing their individual competence and performance, as well as the organization's environment, with the ultimate goal of enhancing organizational performance. Training and development are consequently fundamental to employee utilization, productivity, commitment, motivation, and development. An organization may have determined personnel with the proper equipment and managerial support, yet employee performance falls short of expectations. In many circumstances, the missing ingredient is inadequate skills and information, which are obtained through training. Human resource management, according to Ubeku (1995:10), is a control function exercised by all managers in an organization and/or by a department typically labeled personnel or human resources. Therefore, it is essential that the demand for training be identified and met. In terms of operational efficiency and efficacy, it is a vital aspect of the management role. This is because an organization that places a premium on employee training is directly planning for its continued existence and expansion.
However, there is a correlation between training and performance (Khan, Khan, & Khan, 2003). Job happiness, knowledge, and management are only a few of the variables that affect employee performance (2011). This demonstrates that employee performance is vital to the organization's success and that training and development are good for improving employee performance. This is only possible if personnel are competent at their jobs; hence, training and development of employees is essential.
Training is essential for the development of personnel, and the development of employees encourages self-fulfilling skills and talents, decreased operating expenses, minimizes organizational liabilities, and shifting aims and objectives (Donald, 2009). Without prior training, it is exceedingly difficult for a person to perform properly at work (Garavan, 1997). Employees with training perform better than those without training (Adenuga, 2011). Therefore, it is essential for any firm to train its employees in order to achieve its overall objectives. Training and development, as well as on-the-job training, have a major impact on organizational success (Khan, Khan, & Khan, 2011). To increase employees' knowledge and abilities, they must also build more self-efficacy and confidence in their ability to accomplish their jobs.
1.2 DESCRIPTION OF THE PROBLEM
Many organizations did not take employee training seriously because they failed to recognize that the business environment has become extremely dynamic and that only organizations with the right manpower to meet the technological and informational needs of the times can succeed in the globalized business world.
Training is crucial to the success of any modern business; in order to effectively compete, an organization must train its workforce to meet the requirements for sustainability. However, organizations that do not train or train inadequately face a number of issues, including low performance, poor coordination, an increase in employee turnover, inadequate manpower, a low capital base, a decline in market share, and an inability to meet the technological and informational demands of the business environment.
To retain talented, experienced, and qualified people in a business, proper training and development must be provided without compromise. The prevailing dynamic nature of the banking business necessitates an appropriate strategy for enhancing quality, customer service, productivity, and innovation through approaches of skill acquisition. Recent challenges in the banking sector include electronic fraud, inefficient performance that led to mergers and acquisitions, and the subsequent layoffs of some staff. These issues demonstrate the sector's severe need for highly qualified bank personnel who can meet the current challenges; hence, training and retraining are necessary for the employees' effective functioning.
The primary issue facing the bank is how to retain and maintain its leading position throughout its life, therefore the necessity for a training policy that would increase service quality. Inadequate funding of training, failure to recruit genuine professional trainers, and failing to appropriately inform trainers on the unique trends within the bank further contribute to the problem. The bank's management should be able to spend large sums of money on employee training and development, as well as the acquisition of experienced personnel, in order to achieve the bank's stated goals.
1.3 OBJECTIVES OF THE STUDY
This study's purpose is to assess the impact of training on the organizational performance of First Bank plc in Ifo LGA, Ogun state. Included among the specific aims are the following:
Determine the training practices of employees at First Bank PLC.
Determine the effect employee training has on the productivity of First Bank PLC.
Determine the nature of the connection between training and organizational development.
To assess the extent to which training leads in increased employee work satisfaction.
5. Determine the impact of training on staff capability and self-esteem at First Bank PLC.
EVALUATING THE IMPACT OF TRAINING ON ORGANIZATIONAL PERFORMANCE