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Why Nigeria must invest in human capital development to boost economy —  Daily Times Nigeria


The study was carried out to investigate the human capital development and corporate performance using Zenith Bank in Akwa Ibom State as a case study.   Human capital is an important factor in the development and growth of any organization. The study adopted random sampling technique and simple percentage analysis to ascertain the relationship between the dependent and independent variables. In view of this, the researcher conducted a detailed survey on the subject such as questionnaire, oral interviews and close look at the views of other Authors was also an immense help in this project. The findings of the study reveal that human capital development has significant impact on corporate performance especially in the banking industry; The average success and failure of any organisation depends mostly on the effectiveness’ and of bankers and accountant. It has been established that most bankers lack basic training, the best motivational technique therefore is for the management and government to direct their resources and time towards human capital development. The study concluded that bank managers should ensure to allocate adequate resources for the development of their staffs in order to enhance organizational growth. Some relevant recommendations were suggested by the researcher based on the study findings.

Human capital development as key to solving Nigeria's economic challenges -  Businessday NG

                                             CHAPTER ONE



There are basically four resources that organizations use to achieve their objectives. These resources are known as the four “Ms” in the vocabulary management. They are; man, materials, money and machines. Of these four, the most important element is unarguably the resources – man. The development of people in an organization will lead to improved performance. Although business executives believe that people are the most important asset, some of these executive fail to invest in people. Partial evidence abounds as to the connection between people development and financial performance. Companies that invest in the development of human capital seem to achieve better financial performance than those that do not.

Human capital development may be formal or informal. Some organisations invest in and develop their own high quality training facilities and run a regular series of introductory and refresher courses in house. This has the advantage of ensuring that the training is relevant to the organization and its business as well as signifying an on-going commitment to staff development.

Attempt at establishing the actual meaning and manpower development is beneficial to us at this point. According to Hassling (1971) “training is sequence behaviour in other to attain a stated objective”. In the same vein, M. Turrel (1980) defined manpower development as the way in which a person’s performance and potentials are development by training and education. Education itself is the systematic instruction given for the development of character and mental powers. It is the basic form of training given for the enlightenment of the mind through the process of social facilitation. In fact, education, training and development are distinguishable but not separable as a result of their close interrelationship and interdependency.

Training is one of the ways in which an organization can develop employees for improve performance. It helps to ensure that workers in an organization function effectively, through equipping them with required skills and knowledge and also upgrade their knowledge as condition changes. Many new employees come into the organization already equipped with skills and knowledge that will help them to start work. Others may require extensive training before they are ready to make such of a contribution to the organization. Majority, however, at one time or the other will require some type of training in order to maintain an effective level of job performance. While training may be accomplished on an informal basis, better results are usually attained through a well – organized formal training program. The question now is – does human capital development drive superior performance or does superior financial performance make it possible to take a more strategic approach to human capital development? The ability for profitable companies to provide better pay and better training opportunities than their competitors may lead employees to “blur engagement” which connotes involvement and superior contribution – with satisfaction, with pay. The biggest challenge for managers is the ability to create a highly motivated human resource development unit. Modernization of human resource development and the transformation of human capital are efforts essential for the provision of excellent and high quality service to the stakeholders and client. For years, companies have vigorously treasured key areas of their operations – from the success rates of new product introductions and productivity of manufacturing operations, to direct mail conversion rates and customer retention. The reason is obvious: brining desirable new products to market, squeezing the most from one’s most physical assets and gaining and keeping customers are all critical factors in a company’s success. Without concrete performance measures, effective e management of these areas would be impossible. However, while measurements of supply chain, research and development and sales activities has been common place, consistent and routine gauging of the performance of the work force – as well as the impact of the human capital investments – has been virtually non-existent. The fact is that successful organizations today and in the foreseeable future will be those that are able to measure the business impact of the investment in people – whether that investment is employee recruiting, performance management, skills development or benefits administration.
For quite some time now, attention has often been focused almost entirely on financial and physical assets, like cash, stocks, machines, equipment, land and building to mention but a few. However, the resulting human metrics can serve as a catalyst for change, providing a critical missing link for creating and sustaining competitive advantage for organization operating in an increasing knowledge intensive global economy.  Although employees are always treated as both assets and cost for their employers, most organizations have proven to be much more capable at measuring the cost side of human capital than the asset side. At a minimum, this imbalance results in inefficiencies in human capital management. Analysis shows that, in many cases, the imbalance creates a chronic under investment in human capital relative to other forms of investment. The result is sub – optimal performance on the part of most organizations, often accompanied by a sacrifice of long term productivity and portability in exchange for short – lived gains. Improving the quality and the relevance of human capital measurement enables organizations to better understand their overall “people – related” strengths and weakness and identifying areas for improvement. It is essential to correct this situation. Any organization hoping to perform at highest level need to link investments in people to bottom – line business result. The rise in human capital management in the 1990’s brought management scholars to debate on the linkage between the management of people and performance. A number of attempts were made to put empirical flesh on the theoretical bones of the resource based view and he specific human resources prescriptions. Some of these studies include; (1) A cross sectional study of U.S owner firms by Huselid, M.A (1995), he was that high performance work systems have an economically and statically significant impact on both turnover productivity and performance. Huselid, M.A Jackson, S.E and Schuler, R.S (1997), did a cross sectional study on 293 publicly held U.S firms. They discovered that human resource can perform by recruitment, selection, training, performance appraisal and compensational administration.  The system of human resource practice can increase organization performance (Yeung and Ulrich, 1990). For organizations given the present difficult business environment which is highly competitive, all organizations including banks have come to recognize the importance of having the best type of workers. The value that people can bring to services and products for customers depends on the competence and ownership toward work performance. Developing employee’s competence and commitment is an investment that would ensure organizations continued business success. This study is therefore undertaken to show the relationship between human capital development and corporate performance, that is how human capital development will bring about increase/improved performance.

Nigeria in dire need of human capital development' » Nigerian Oracle


A country’s overall economic development and growth can be assumed to be particularly related to how the available human resources are harnessed towards stated goals and objectives. There is no doubt that developing an organization human capital will lead to improved performance.  A successful organization is one which has an effective human resources policy on ground. It is important to note that the task of managing resources is not an easy one especially when it comes to the management of people as resources. Since it is not easy managing people upon whom the growth and efficiency of all organization depend, adequate plans and strategies needs to be put in place which are aimed at acquiring the right personnel, and also fine turning such personnel, so to speak, in order that they may function optimally the realization of organizational goals. The problem here is to determine the quality of human capital development that will lead to improved performance; that is, the human capital initiatives that will help to increase performance. This research work is aimed at addressing performance management through human capital transformation and development.

Girl-Child Education: An Investment Vital To Human Capital Development In  Nigeria | Blossom Nigeria


The following are fundamental objectives of this research:

Ascertain the relationship between training and performance of workers in the organization.

Determine the relationship between mentoring and performance of employees.

Determine the relationship between internship (on – the – job raining) and performance of employees.


The following research questions merits serious consideration;

  1. Have training and development improved the quality of service in the bank?
  2. Does the introduction of advance computer system improve the efficiency and profitability of the bank?
  3. Have training and development been able to promoted accountability in the bank?
  4. Does training modify behaviour, attitude, skill and knowledge of individual staff?
  5. Have training and development been able to bring sanity to the banking industry vis-à-vis Zenith bank plc?
  6. Do training and development motivate staff?
Driven by the economic growth prospect that the establishment of an  education hub holds for human capital developme… | Education, Growth,  Public private partnership


When completed, the findings from this study will apart from advancing academics on the subject of human capital development and corporate performance in Nigeria organizations, it will also be relevant to stakeholders, ultimately in arriving at an appropriate mix for decision to enhance their returns. It will also be useful in the following ways:  It will assist managers in the organization whose task is to sharpen the productive abilities and qualities of employees to achieve corporate goals.  This study will also be of immense importance to the employees in the organization, whose collective task will make or mar the organization.  This study will highlight the different aspects of human capital development and performance. Researchers in the field human resource generally will also find the study quite useful when completed. The findings from this study will highlight the problems of human capital development and how such problems can be tackled for sustained organizational achievement of stated goals. Finally the findings from this study will be of immense benefit to the general public in various ways.


The scope of the research study cover the comprehensive appraisal of the cost, benefit and status of training and manpower- development- It also provides an insight to ethical standard in which training and development evolved.

It also covers the effect of emergence of technology in banking activities. The study will cover a period of 5yrs i.e from 2009-2014.

Due to time and financial constants, the study will not be able to cover all the banks in the country. The study will therefore be limited to zenith bank Uyo metropolis in Akwa Ibom State as approved for my case study.


This chapter is exclusively devoted to the principles on which this study was based. The researcher drew immensely from the opinion and advice of some human resources manager sought on the appropriate methodology. Items covered in this chapter therefore,

Include research method and design (case study of Zenith Bank plc.) methods and sources of data collection, instrument validity and liability, sampling and sample size and analysis of data.



This skill general or specific acquired by an individual in the course of training and work experience.


 This is the process of improving an organization’s employee performance, capabilities and resources. If a manager or human resources department were to ask, “What can be done to make employees more productive?” the answer would be considered to fall within the scope of development.


The management of people to achieve individual behaviour and performance that will enhance organization effectiveness.


This is a composite assessment of how well an organization executes on its most important parameters, typically financial, market and shareholder performance.


Is a term use in the assessment of economic use of resources?

On the job training: It is when an employee is place in to real work situation and shown the job and tricks of the trade by an experienced worker or supervisor.


Is the capacity or potential of a project or an organization to make a profit?



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