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ABSTRACT
This study reveals the relationship between human capital management and organizational growth. Furthermore, we elaborate a theory of how high-involvement of HCM system among other factors influences the growth of an organization. Our analysis was base on the 44 sample size and questionnaire derived and retrieved from the total population of 50 using Yaro Yemen’s formula. In course of our research we discovered that there is a relationship between HCM and organization growth and as such we conclude that there exist a close relationship between HCM and organizational growth, we do recommend that their should be implementation of goal-oriented policy in HCM to affect the growth of an organization.
TABLE OF CONTENT
TITTLE PAGE ……………………………………………………………….. i
ABSTRACT …………………………………………………………………vi
CHAPTER ONE
Introduction
1.1 Background of Study……………………………………………1-3
1.2 Statement of the Problem ……………………………………..3-4
1.3 Purpose /Objectives of the Study ……………………………4-5
1.4 Research Question ……………………………………………….5-6
1.5 Significance of the study ……………………………………….6
1.6 Scope of the study ………………………………………………..6-7
1.7 Limitation of the study ………………………………………….7
1.8 Definition of Terms ………………………………………………7-9
1.9 Organization of the work …………………………………….10-11
CHAPTER TWO
Literature Review
2.1 Human Capital Theory and the Resource-Based View………………………………………………………………12-14
2.2 Definition and Meaning of human capital management……………………………………………………14-17
2.2.1 Personnel aspect………………………………………………17-18
2.2.2 Industrial Relations Aspect ……………………………….19-21
2.2.3 Welfare Aspect ………………………………………………..22-23
2.2.4 Human Resource Planning…………………………………23-25
2.3 Organizational Growth……………………………………….25-28
CHAPTER THREE
Research Methodology
3.1 Research Design………………………………………………29-30
3.2 Population of the Study …………………………………….31
3.3 Sample Design ……………………………………………….31-32
3.4 Sample Size …………………………………………………….32-33
3.5 Method of Data Collection …………………………………..33-34
CHAPTER FOUR
Data Presentation and Analysis
4.1 The questionnaire administration and retrieval rate………35
4.2 Data Analysis……………………………………………………36-42
4.3 Summary of Findings…………………………………………42-44
4.4 Discussion of Finding…………………………………………44-47
CHAPTER FIVE
Summary, Conclusion and Recommendation
5.1 Summary…………………………………………………………48-49
5.2 Conclusion………………………………………………………49-50
5.3 Recommendation ………………………………………………50-51
References……………………………………………………….52-54
APPENDIX 1…………………………………………………….55-58
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
The extent to which an organization grows is been influenced by Human Capital Management (HCM) which has emerged as a course within the field of management sciences. Human Capital Management (HCM) is believed to be driven by specialization and division of labour. Growth is considered as a top priority for most firms yet only few companies achieved growth and ever fewer maintaining it (Baum & Wally, 2003).
Growth is something for which most organization strives for regardless of their size. Small firms want to get big, big firms want to get bigger. Growth potential is an organization future ability to generate larger profits, expand its workforce and increase production (Rouse, 2009). Consequently, growth must occur if the business wishes to keep up. Organizational growth has the potential to provide small businesses with myriad of benefits including things like greater efficiencies from economies of scale, increased power, a greater ability to withstand market fluctuations, an increased survival rate, greater profits, and increased prestige for organization members (Robert, 2004).
Similarly Dwight (2006) opines that many small firms desire growth because it is seen generally as a sign of success, progress. Organizational growth is, in fact, used as one indicator of effectiveness and is a fundamental concern of many practicing managers.
There are many parameters a company may use to enhance growth, according to Treen (2000) they include joint venture/alliance, licensing, sell off old winners, new markets, new product development, outside financing, and also human Capital Management (HCM) or Talent management (TM), which is also a contextual factor that prompts organizational growth and has not been properly investigated. Most companies do measure their growth by its profitability (i.e, net profit, revenue and other financial data), and other sales, number of employees, physical expansion, market share.
Similarly, Human Capital Management (HCM) is an important factor that aids or supports the growth of any organization. Human capital practices have positive effect on organizational performance (in terms of growth), that is why scholars suggested that more conceptual and empirical work should be carried out (Brewster, 2004).
Stoner et al (2005) conceived it as the management function through which manager’s recruit, select, train and develop the organizational members. Human Capital Management (HCM) is concerned with getting better results (growth) with the collaboration of people. This clearly underscored the important status of the human factor at work. Observably, studies relating to human capital management and organizational growth appear scanty. This is the gap this study fills. Consequently, this study investigates the relationship between human capital management and organizational growth in the banking system.
1.2 Statement of the Problem
Organization from both private and public sector, big and small enterprises are increasingly embracing the practice of Human Capital Management (HCM) that this would translate into the organization growth. But most organizations have failed to recognize the great impact of Human Capital Management (HCM) leading to the closure of many organizations.
The associated problems are: The inadequacy of adapting and accommodating the changing policy, pattern and systems of Human Capital Management (HCM). Improper and inefficient principles of selecting, recruiting, placement, training and developing of the organization employees and negligence of a capable Human Capital Management (HCM) by some organizational managers.
1.3 Purpose/Objectives of the Study
The main purpose of this study is to investigate the relationship between Human Capital Management (HCM) and organization growth. Accordingly, the following objectives will be achieved:
1. To investigate the relationship between Human Capital Management (HCM) and organizational growth.
2. To investigate the relationship between personnel management (aspect) of Human Capital Management (HCM) and organizational growth.
3. To investigate the relationship between welfare aspect of Human Capital Management (HCM) and organizational growth.
4. To investigate the relationship between industrial relations aspect of Human Capital Management (HCM) and organizational growth.
5. To investigate the relationship between Human resource planning and organizational growth.
1.4 Research Questions
The following research questions are posed to guide this study:
1. Is there any relationship between human capital management and organizational growth?
2. Is there any relationship between personnel aspect and organizational growth?
3. Is there any relationship between welfare aspect of Human Capital Management (HCM) and organizational growth?
4. Is there any relationship between industrial relations aspect of Human Capital Management (HCM) and organizational growth?
5. Is there any relationship between Human resource planning and organizational growth?
1.5 Significance of the Study
This study would be beneficial in number of ways. Firstly it will assist academicians and scholars interested in issues pertaining to Human Capital Management (HCM) and its relationship to organizational growth, both in public and private sector, especially in modern banking system.
Secondly, to practicing managers in the formulation of policies, standards, guidelines and procedure for handling difficult issues on Human Capital Management (HCM) so that it will positively relates to the growth of the organization in its business operation. It is also relevant to state here emphatically that this article also stand as an increment to the body of knowledge.
1.6 Scope of the Study
This study is delimited under the following;
Content Scope: This study examines the relationship between Human Capital Management (HCM) and organizational growth.
Geographical Scope: The geographical scope of this study covers the selected commercial banks in Port Harcourt e.g Zenith Bank, First Bank, GT Bank.
Unit of Analysis: This study is macro based analytical study.
1.7 Limitations of the Study
There are some constraints or barriers imposed on the study by the nature of the problem and research situation. These factors or limitation are outside our control, but we tried to adjust or adapt the study to accommodate such factors. They include;
1. Adequate materials
2. Finance (funds)
3. Time
4. Uncompromising attitude of correspondence
5. Transport and distance
1.8 Definition of Terms
The following terms are derived from the conceptual framework and are defined as follows:
CAPITAL: It is the term used in establishing and maintaining any organization. It could be finance, humans etc.
EXPANSION: Expansion is the increase in productivity of the organization and also further establishment of various branches of the organization in various locations.
GROWTH: Growth is the positive increment in size and scope of an object due to some changes.
HUMAN: Is all labor force required in appropriate number with skills needed to carry out a certain task or activity.
HUMAN CAPITAL MANAGEMENT: Human Capital Management (HCM) is a process of bringing qualified people and organization together, developing and motivating them so that the goals of the organization or establishment will be achieved.
INDUSTRIAL RELATIONS ASPECT: It is the process of solving various disputes or grievances that may occur within the organization. This includes union management relations, joint consultation, collective bargaining etc.
ORGANIZATION GROWTH: Organizational growth is the ability for any organization to continuously increase or generate larger profit, expand its workforce and increase in production by carefully examining its input and labour force.
ORGANIZATION: Is a group of people coming together with a special purpose or interest to achieve.
PERSONNEL ASPECT: Personnel aspect is a factor that directly or indirectly affects the employee performance and contribution to the overall growth of the organization. It is concerned with manpower planning, recruitment, selection, placement, transfer, promotion etc.
PLANNING: Is a process of forecasting the future.
PROFITABILITY: Is the act or an increment in an organization net profit, revenue, and other final data that placed an organization in an optima position of achieving its stated goals.
WELFARE ASPECT: It deals with the working conditions and amenities such as canteens, rest and launch rooms, housing, transport, medical assistance etc.
HUMAN RESOURCE PLANNING: Human resource planning is the process by which management ensures that they have the right number of people occupying strategic positions, capable of effectively and efficiently completing those tasks that will help the organizations in achieving its goals.
1.9 Organization of the Work
This study is divided into five chapters. Chapter one gives a general background to the study and serves as introduction while chapter two deals with literature review and theoretical framework. Research methodology or method of data collection and analysis is examined in chapter three and chapter four is used to present and analyze the data collected. The last chapter deals with the summary, conclusions and recommendation of the study.
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