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Abstract
This study examined the relationship between human capital development and corporate sustainability. The main purpose of the study is to examine the relationship between staff training and corporate sustainability in selected oil service firms in Port Harcourt, investing the relationship between staff development and corporate sustainability in selected oil service firms in Port Harcourt and to determine the relationship between coaching and corporate sustainability in selected oil service firms in Port Harcourt.The population of the study was made up of 216. The sample size of 140 respondents was drawn from using the Taro Yemen formula. The simple percentage was used to analyse the research question while chi-square was used to analyes the hypotheses. Based on the finding of the study, it is recommended that, the human resource manage should ensure that proper identification, determination and assessment of human capital needs in the bank. This will ensure that the right number and calibre of staff are selected for the training and development programmes, there should be regular research on developments in the banking environment that require training and upgrading of employees. Thus will enable the right training and development programmes to be designed and implemented so as to keep the employees abreast with the developments, the whole programmes should be holistically designed. This includes ensuring that the syllabus contains what is required of the employees to know, competent trainers, adequate training facilities and regularity of the programmes, there should be effective evaluation techniques for the programmes. Thus should be essentially practical and will enable management to identify any deficiency in the programmes. When this is done, remedial measures would follow, there should be adequate and effective system of rewording successful trainees. This includes promotion, advancement and status enhancement as well as increased responsibility. These will serve as motivations for effective participation in staff training and development programmes and finally, the programmes should be regularly carried out to enhance productivity of staff, which is imperative for sustainability and growth.
Table of Contents
Title page i
Declaration iii
Certification iv
Dedication v
Acknowledgement vi
Abstract vii
Table of Contents viii
List of Tables x
List of Figures xi
CHAPTER 1 1
INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of Problem 3
1.3 Objectives of the Study 4
1.4 Research Questions 5
1.5 Research Hypotheses 5
1.6Significance of the Study 5
1.7 Scope/Limitations of the Study 6
1.8 Definition of Related Terms 6
CHAPTER 2 9
LITERATURE REVIEW 9
2.1 Conceptual Framework 9
2.1.1 Concept of Human Capital Planning 9
2.1.2 Dimensions of Human Resources Development 11
2.1.3 Concept of Corporate sustainability 12
2.1.4 Implications of Human Capital Development 17
2.2 Theoretical Framework 18
2.2.1 Bureaucratic management theory 18
2.2.2 Administrative Management Theory 19
2.2.3 Scientific management theory 20
2.3 EMPIRICAL FRAMEWORK 23
CHAPTER 3 25
RESEARCH METHODOLOGY 25
3.1 Research Design 25
3.2 Population of the Study 26
3.3 Sample and Sampling Techniques 26
3.4 Methods of Data Collection 27
3.5 Method of Data Analysis 28
3.6 Questionnaire Design 28
3.7 Data Analytical Techniques 28
3.8 Reliability and Validity 29
CHAPTER 4 30
DATA PRESENTATION AND ANALYSIS 30
4.1 Data Collection and Presentation 30
4.2 Data Analysis 33
4.3 Discussion of Findings 37
CHAPTER 5 39
SUMMARY, CONCLUSION AND RECOMMENDATION 39
5.1 SUMMARY 39
5.2 CONCLUSION 40
5.3 RECOMMEDNATIONS 41
Reference 43
Appendix I 44
Appendix II Error! Bookmark not defined.
List of Tables
Table 4.1: Questionnaire Administration and Retrieval 30
Frequency Table 31
Sex of Respondents 31
Academic Qualification 32
Employee Designation 32
List of Figures
Fig. 1: A Conceptual Framework showing the relationship between human capital development and corporate sustainability. 9
CHAPTER 1
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The importance of human resources to any business organization has long been realized and stressed. This realization of the value of human resources has let to the proposal by experts that they should be classified as “assets”, hence the term “human capital” (Anderson, 2005:18). To get the best out of the human resources in an organization, there must be substantial and meaningful investment on them. Organizational objectives such as profit maximization, large market share, and fulfilling social responsibility cannot be achieved without an efficient work-force. Therefore, human capital development is essential for sustainability and growth of an organization. It is thus us, being realized now that the forces that give life to an organization are the human energy and creativity operating therein (Onodugo, 2000P: 168). Thus, no matter how good and sophisticated capital and technology may be, it is of little relevance to the organization’s goal when managed and operated by underdeveloped human resources. They do not only lack capacity but also the motivation to use other resources efficiently towards the organizational ends (Ugbaja, 2005: 62).In some organizations, only individuals who have acquired skills on specific jobs are employed. But in others, individuals are employed to be developed on-the -job as required by the organization. In this case, it is believed that the individual, through training and development programmes, will acquire the skill and knowledge required for effective performance of the job (Nwatu, 2006: 72). However,human capital development must be based on the need rather than meeting the requirements of the organization. Such requirements must be accurately defined and the development programme should be organized to exploit the potentials of the employee or to correct the deficiencies in the level of their performance (Ugwunna, 2007:151).Today, the business environment is very dynamic and undergoes rapid changes as a result of technological innovation, increased awareness and changing demand of customers and the environment generally. Business organizations, especially the banking institutions, operate in a complex and competitive market characterized by innovative changes. As a result, human capital in these banks ought to be kept abreast with the continuous changes in the banking environment (Isichei, 2006: 24). Thus includes internal and external banking environments .In order to be competitive and keep afloat, human capital development should be on a continuous basis. In other words, bank employees should be trained and re-trained continuously and adequately motivated in order to stimulate high performance as this is one sure way to make the business profitable, growing and self-sustaining (Ajunwa, 2005: 63). As has been observed and stressed in the financial sector, the ever-improving information and communication technology and demands of stakeholders have engendered keen competition, thus giving rise to the need for well trained and retrained human capital.
With the continuous improvement in human capital in response to the changing business environment, over time this will lead to growth and sustainability. Thus, the critical success factor of business organization is to have a pro-active human capital which can anticipate the future and adjust in advance to ensure continuous high performance which would ultimately lead to growth and sustainability. The onus therefore lies with management to put in place an appropriate and efficient mechanism for human capital development (Osemene, 2007: 19).Basically, there are two approaches to human capital development for sustainability and growth-manufacturing and growing approaches. The manufacturing approach is the most popular to human capital development. This approach details the processes through which human resources will be developed without due consultations to the beneficiaries. To this end, organizational members are selected, trained, developed, deployed, promoted and appraised all within the context of the need of the organization without prior input from the employees (Agundu, 2004: 72).Unlike the manufacturing approach, the growing approach grows talent rather than manufacture it. Once the individuals are employed and deployed, they are allowed to develop into what they are capable of becoming provided that proper condition for growth is created. Emphasis is on providing or creating enabling environment for growth rather than designing developmental programme on techniques that suit only the organization.
Corporate sustainability is an approach that creates long-term stakeholder value by implementing a business strategy that considers every dimension of how a business operates in the ethical, social, environmental, cultural, and economic spheres. It also formulates strategies to build a company that fosters longevity through transparency and proper employee development. Corporate sustainability is an evolution on more traditional phrases describing ethical corporate practice.
1.2 STATEMENT OF PROBLEM
Human capital development practices and processes face several problems that inhibit their effectiveness for corporate sustainability. Firstly, the inability of Human Resource Managers to properly identify and determine training and development needs is a serious human capital development problem as it not only leads to under development of employees but also under-selection of employees for training. Secondly, poor assessment of training and development needs often lead to poorly designed and packaged training and development programmes or syllabus. Thirdly, the use of incompetent trainers to help in the development of employees also undermine the efforts of management to have a well-trained human resources in the organization. Fourthly, lack of or inadequate training and development facilities as well as management commitment also pose a threat to human capital development. Fifth, irregular and poor implementation of training and development programmes for human capital also affect growth and sustainability. Finally, lack of motivation and ineffective system of evaluating training and development programmes for human capital undermine their effectiveness. The problem of this study is therefore to show how these factors adversely affect human capital development in oil service
1.3 Objectives of the Study
The main purpose of the study is to examine the relationship between human capital development and corporate sustainability in selected oil service Firms in Port Harcourt. The specific objectives are as follows:
1. To examine the relationship between staff training and corporate sustainability in selected oil service firms in Port Harcourt.
2. Investing the relationship between staff development and corporate sustainability in selected oil service firms in Port Harcourt.
3. To determine the relationship between coaching and corporate sustainability in selected oil service firms in Port Harcourt.
1.4 Research Questions
With the above objectives in focus, the study seeks to find answers to the following research questions:
1. To what extent does staff training promote corporate sustainability in selected oil service firms in Port Harcourt?
2. To what extent does staff development influence corporate sustainability in selected oil service firms in Port Harcourt?
3. To what extent does coaching associate with corporate sustainability in selected oil service firms in Port Harcourt?
1.5 Research Hypotheses
The following hypotheses were formulated to guide the study:
Ho1: There is no significant relationship between staff training and corporate sustainability in selected oil service firms in Port Harcourt.
Ho2: There is no significant relationship between staff development and corporate sustainability in selected oil service firms in Port Harcourt
Ho3:There is no significant relationship between coaching and corporate sustainability in selected oil service firms in Port Harcourt.
1.6Significance of the Study
This research aimed at creating awareness and assessing Time Management and Corporate Sustainability in the Firm. Therefore, the study is expected to be of much value to the number of as people as follows;
Members of the firm will be informed on importance of Human Capital Development and Corporate Sustainability. Also, it will help decision makers to formulate difference strategies which will help the implementation of Human Capital Development and Corporate Sustainability.
The research will be benefited by identifying variable areas for further research, and will be used as an additional reference to researchers on Human Capital Development and Corporate Sustainability.
1.7 Scope/Limitations of the Study
The scope of this study is delimited into the followings:
Content Scope: The specific areas of corporate Sustainability the study investigated include; Economic sustainability, Environment sustainability and Social sustainability. Whereas, the areas of Human Capital Development include staff training, staff development and coaching.
Geographical scope: This study covers an examination of strategic contributions of Human Capital Development and Sustainability survival.
Unit of Analysis: This is a macro study because it is interested in ascertaining the survival of an organization in this direction.
1.8 Definition of Related Terms
CORPORATE SUSTAINABILITY
Corporate sustainability is an approach that creates long-term stakeholder value by implementing a business strategy that considers every dimension of how a business operates in the ethical, social, environmental, cultural, and economic spheres. It also formulates strategies to build a company that fosters longevity through transparency and proper employee development.
ECONOMIC SUSTAINABILITY
Economic sustainability is the ability to support a defined level of economic production indefinitely.
ENVIRONMENTAL SUSTAINABILITY
Environmental sustainability is the ability to maintain rates of renewable resource harvest, pollution creation, and non-renewable resource depletion that can be continued indefinitely. Economic sustainability is the ability to support a defined level of economic production indefinitely.
PRIORITIZING
It is the activity that arranges items or activities in order of importance to each other.
SOCIAL SUSTAINABILITY
The ability of a community to develop processes and structures which not only meet the needs of its current members but also support the ability of future generations to maintain a healthy community.
DEVELOPMENT: Is any learning activity which is directed towards future need rather than present needs and which s concerned more with career growth than immediate performance. In order words after the employee has recruited selected and inducted he or she must be developed to better fit into the job and the organization. Again, that development would include both training to increase skill in performing a specific job and education to increase general knowledge and understanding of our total work environment.
HUMAN CAPITAL: Is concerned with obtaining analyzing and reporting on data that inform the direction of value adding people management, strategic investment and operational decision at corporate level and at the level of front line management.
HUMAN: human, which is developed through human capital formation means much more than population or labour force, Human in the economic sense is the managerial, scientific, engineering technical or creating designing, developing organizational managing and operating productivity service enterprises and economic institutions.
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