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Abstract
The study examines the relationship between human capital planning and corporate performance of selected manufacturing firms in Port Harcourt. The survey research method was employed for the study. The population of the study was made to sixty five (65). The Taro Yemen’s formula was used to determine the sample size of 52. A self designed questionnaire on employee participation and corporate survival was used and administered for the collection of data from the respondents in selected manufacturing firms in Port Harcourt, Rivers State. The questionnaire was filled by the managers and staff of Selected manufacturing firms in Port Harcourt, Rivers State, who provided the needed information. The method used to analyze the data was simple descriptive method stated in tables and expressed in percentage. The researcher in the course of this research work formulated four hypotheses which were stated to give bearing for the research work. The chi-square statistical test was employed this test was used due to the nature of the questionnaire designed for the purpose of the hypothesis testing. The study revealed that scenario planning, demand forecasting and supply forecast leads to corporate performance in selected manufacturing firms in Port Harcourt. Based on the finding of the study, we recommended that public organization should embrace human resource planning if corporate performance must be ensured, human resources planning in the public organizations must be matched with the organizations’ strategic planning to bring about enhanced corporate performance and Nigerian public organizations should learn to embrace human resources outsourcing as a trend in human resource management as it is believed to ensure productivity in organizations.
Table of Contents
Title Page i
Cover Page ii
Declaration iii
Certification iv
Dedication v
Acknowledgements 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 4
1.3 Objectives of the Study 5
1.4 Research Question 6
1.5 Significance of the Study 6
1.6 Research Hypotheses 7
1.7 Scope/ Limitation of the study 8
1.8 Definition of Terms 9
CHAPTER 2 11
LITERATURE REVIEW 11
2.1 Conceptual Framework 11
2.1.1 Concept of Human Resources Planning 12
2.1.2 Dimensions of Human Resources Planning 17
2.1.3 Corporate performance 17
2.1.4 Measures of Corporate performance 20
2.2 Theoretical Framework 22
2.2.2 The Relationship between Human Resources planning and Corporate performance 24
2.3 Empirical Framework 26
CHAPTER 3 29
RESEARCH METHODOLOGY 29
3.1 Research Design 29
3.2 Population of the Study 30
3.3 Sample and Sampling Techniques 30
3.4 Questionnaire Design 32
3.5 Source and Method of Data Collection 32
3.6 Data Analytical Techniques 33
3.7 Reliability and Validity 34
CHAPTER 4 35
DATA PRESENTATION AND ANALYSIS 35
4.1 Questionnaire Administration and Retrieval 35
4.2 Data Analysis 36
4.3 Hypothesis Testing 42
4.4 Discussion of Findings 46
CHAPTER 5 49
SUMMARY, CONCLUSION AND RECOMMENDATION 49
5.1 Summary 49
5.2 Conclusion 49
5.3 Recommendations 50
References 51
Appendix I 54
Appendix II 55
List of Tables
Table 4.1: Questionnaire Administration and Retrieval 36
Table 4.2: Show age bracket of respondents 36
Table 4.3: Show sex of respondents 37
Table 4.4: Academic qualification 37
Table 4.5: Marital status 38
Table 4.6: Scenario planning and corporate performance in selected manufacturing firms in Port Harcourt. 39
Table 4.7: If demand forecasting relates to corporate performance in selected manufacturing firms in Port Harcourt. 40
Table 4.8: If supply forecast relate to corporate performance in selected manufacturing firms in Port Harcourt. 41
Table 4.9: If human resources planning relate to corporate performance in Manufacturing firms in Port Harcourt. 42
Table 4.10: Contingency Table 43
Table 4.11: Chi Square Table 44
List of Figures
Fig.2.1: A conceptual Framework Showing the Relationship between Human Resources Planning and Corporate performance. 11
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
Corporate performance as a construct suffer from, problems of conceptual clarity in many areas. The first area is the definition of the construct. The term performance is often used indiscriminately to descried everything from effectively and effectiveness to improvement. An adequate definition or in this case, many similar yet different definitions practitioners use the term to describe a range of measurement including impute efficiency, output efficiency and earn transactional deficiency (Stanncck, 1996).
Performance has to do with accomplishment standard of accuracy, completeness, cost and speed. Performance is seemed to be the fulfillment of an obligation in a manner that release the performer from all liabilities under the contract. Corporate performance therefore is a measure of how well achieve appropriate objectives. This means that organization must be properly, evaluated in term of their productivity, skills taken decision and total commitment to their job so as to enable the organization to achieve expected goals.
Corporate performance has do with the effectiveness of the organization in fulfilling it purpose. The measurement of performance is very important aspect to be considered. In any business entity that is gearing towards success. The survival of any organization depends solely on its performance which is strategic in Nature. Performance measurement to evaluate the entire health of the organization. Most executive are painfully aware of the fact that there is no one magic formular for measuring business performance. A review of literature on the subject shows a market trend from financial ratio and tangible to non-financial aspects an intangible as the most importance business measure.
It is very vital for managers to know which factors influence an organization’s performance in order for them to take appropriate steps to initiate them. Corporate performance guarantees the continuity of the organization to be competitive in a global market place. Corporate performance can be seen as a multi-dimensional construct consisting of more than simply financial performance (Baker & Sinkula, 2005). It describes the extent to which the organization is able to meet the needs of its stakeholders and its own needs for survival (Griffin, 2003). In this sense, corporate performance depicts that an organization is achieving its mission and goals. Kaplan and Norton (1992) defined corporate performance as a set of financial and nonfinancial indicators capable of assessing the degree to which organizational goals and objectives have been accomplished. The challenge for any corporate performance is generally indicated by the effectiveness of an organization to achieve its objectives and efficiency to use the resources properly, satisfaction of employees and customer innovation, quality products and services and thereby ability to maintain unique human resource pool (Katou & Budwar, 2007). Human resource planning has to do with forecasting demand for manpower based on its business needs and employing strategies required to meet these needs. The dimensions for the study include forecasting manpower demand and strategic action. Forecasting manpower demand involves the estimation of the number and type of human resource required at different levels in different departments in an organization (Pradeesh, 2011). Strategic actions for human resource entails staffing activities carried out in order to achieve organizational success in the long run. It is a disciplinary and creative process for determining where the organization should be in the future and how to take to the future with the help of human resource staffing activities (Graf, Hemmasi & Strong, 1996). There must be a proper utilization of human resources in organizations in order to achieve high performance standard (Lunenburg, 2012). Organizations may have adequate non- human resources like machines; materials and money but inadequate human resources cannot achieve high performance. Human resources are the main asset of an organization. From the foregoing therefore, the study seeks human resources planning and Corporate performance in Selected manufacturing firms in Port Harcourt.
1.2 Statement of Problem
Human resource planning encompasses the process that identifies the number of employees a company requires in terms of high quality and quantity; hence it seen as an ongoing process of regular and structured planning. This planning process confirms that employees are in the right number as required i.e. there is neither a surplus of manpower nor a shortage. Parker and Caine (2006) states that it is important for organizations to have the right number of manpower in order to avoid unwanted situation i.e. issue of shortage and excess of manpower. Hassan (2003) states that failure to properly articulate and implement the three fundamental functions of human resource planning which include labor forecast, managing demand for employees and available supply in market and keep a balance between labor supply and demand predictions will pose a great problem to manufacturing firms in terms of cost and expertise (skilled personnel) thereby reducing their competitiveness. Gould (1984) holds that in order to gain competitive advantage over the competitors, different advantageous ways are found out using strategic human resource functions, thus showing that these functions play a critical role in making a company competitive. Human resource planning if not systematically carried out cannot bring to equilibrium demand and supply of manpower in organizations (Armstrong, 2006). Oil and gas firms are unable to meet their human resource needs. There is a problem of inadequate right number of people to carry out the essential duties in the firm. They lack sufficient employees in the organization for production and render delivery of services as demanded by the customers in terms of service delivery, industrial production, capacity utilization and drilling operations which affects the performance of the firm negatively. Shortfall of human resource needs delay in the production process and reduces the profit of the organization. Shortfall of human resource needs in manufacturing firms might result to poor completion of task and assignment, extra workload, increase in fatigue, high stress intensity, and decrease in the firm’s ability to meet set goals (Flippo, 1984). By having the right number of human resources at a specific time to carry out organizational services, it will help the organization to increase in their performance and productivity which in turns helps to achieve the strategic objectives and goals of the organization very easily. Hence, the study seeks to examine the relationship between human resources planning and corporate performance of selected manufacturing firms in Port Harcourt.
1.3 Objectives of the Study
The main objective of the study is to examine human resources planning and corporate performance in selected manufacturing firms in Port Harcourt. The specific objectives are as follows:
1. To examine the relationship between Scenarios planning and corporate performance in selected manufacturing firms in Port Harcourt.
2. To examine the relationship between demands forecasting and corporate performance in selected manufacturing firms in Port Harcourt.
3. To examine the relationship between supply forecast and corporate performance in selected manufacturing firms in Port Harcourt.
4. To examine the relationship between human resources planning and corporate performance in selected manufacturing firms in Port Harcourt.
1.4 Research Question
The following research questions are posed to guide the study:
1. To what extent does Scenarios planning relate to corporate performance in selected manufacturing firms in Port Harcourt?
2. To what extent does demand forecasting relate to corporate performance in selected manufacturing firms in Port Harcourt?
3. To what extent does supply forecast relate to corporate performance in selected manufacturing firms in Port Harcourt?
4. To what extent does human resources planning relate with corporate performance in selected manufacturing firms in Port Harcourt?
1.5 Significance of the Study
Arguably, it is acknowledge that a study of this nature is not basically out for it purpose but as a result of some associated benefits it can help to offer generally. The study will help employers to ascertain the need for carrying out effective human capital planning in their respective organizations, especially in the banking industry.
The onus of this study will also open up future vents for young practicing managers to enhance human capital planning as a strategic and administrative tool for corporate performance and continues process for business survival. Most importantly, this study will also provide useful information to other scholars in the academic field in topical area under investigation and finally, this study will also be useful guide and information to other students that will carry out their studies in the future.
1.6 Research Hypotheses
The following research questions are postulated to guide the study:
H01: There is no significant relationship between Scenarios planning and corporate performance in selected manufacturing firms in Port Harcourt.
H02: There is no significant relationship between demand forecasting and corporate performance in selected manufacturing firms in Port Harcourt.
H03: There is no significant relationship between supply forecast and corporate performance in selected manufacturing firms in Port Harcourt.
H04: There is no significant relationship between human resources planning and corporate performance in selected manufacturing firms in Port Harcourt
1.7 Scope/ Limitation of the study
The study is delimited under the following heading: content, scope, geographical scope and study unit of analysis.
Content Scope: The content scope of this study involves an investigation to ascertain the relationship between human resources planning and corporate performance. The study is in the immediate domain of human resource planning. The dependent variable is corporate performance. It is measures by productivity, effectiveness and market share. While independent variable is Human resources planning. It is measured by scenario planning, demand forecast, supply forecast and Training.
Geographical Scope: This study is limited to selected manufacturing firms in Port Harcourt which include Zina Polythene Eleme, Berger Paint Trans-Amadi and Rivok Trans-Amadi.
Unit of Analysis: The unit of analysis in this research is micro, which involves the individuals at the time of carrying out the study.
In carrying out an investigation of this nature the researcher must be faced with some constraints.
Firstly, the time constraint, the time frame provision for this study was short.
Usually, a study of this nature involves some level of expenditure therefore; finance was also a limiting factor.
Thirdly, poor response from the respondent and inability to access the entire population of the study. In the next segment significance of the study will be discussed.
1.8 Definition of Terms
The following terminologies are operationally defined below.
DEMAND FORECASTING: Estimate future needs for people and competences by references to corporate and functional plans and forecast of future activities level.
EFFECTIVENESS: Doing the right thing.
HUMAN RESOURCE: This is the strategic approach to the effective management of organization workers so that they help the business gain competitive advantage.
HUMAN RESOURCES PLANNING: Human capital as a key element in improving a firm assets and employees to increase productive as well as sustain completive advantage.
PRODUCTIVITY: I the range at which a given company is able to cover with his product.
SCENARIO PLANNING: Making broad assessment of future environmental factors and their likely impact on people requirements.
SUPPLY FORECASTING: Estimate the supply of people by references to analyses of current resources and future availability after allowing for wastage. The forecast will also take account of labour market trends relating to the availability of skills and to demographics.