ABSTRACT
The global competition and swiftness of changes emphasize the importance of human capital within organizations, as well as the swiftness and ways of knowledge gaining of that capital. In the economy where uncertainty is the only certainty, knowledge is becoming a reliable source of sustained competitive advantage. Knowledge is becoming basic capital and the trigger of development. However, this study was undertaken to evaluate the impact of Employee Training and development on the operations of New Generation Banks with emphases on Guaranty Trust Bank Plc. The major problem of this study is that employee training and development within our organization are undeveloped. They are mainly performed occasionally and not connected with organizational strategy not do they have strategic significance and mostly employees are not selected or nominated on merit or on base of training needs for the organizations. However, the objective of the study is to assess and evaluate the impact of employee training and development in the operation of New Generation banks with reference to Guaranty Bank Plc as a tool adopted to improve on its employee performance. Hypothesis are formulated such that when analyzed may give possible solutions to the research questions. Datas are analysed through the use of descriptive, fractions, percentages, and chi-square test. Major findings indicate the employee training and development are crucial in effective and efficient operation of new generation banks. It is recommended among others that employee training and development should articulate the corporate strategic
objective and plan of the organization to sustain at this ever changing innovative and competitive business environment
CHAPTER ONE INTRODUCTION
1.1. BACKGROUND OF THE STUDY
Changes in technology, especially information technology, generate knowledge spreading up at tremendous speed, as well as its quick obsolence. In the period between 1900 and 1950, the amount of
human knowledge doubled, and since then it has doubled ever 5 to 8 years. Knowledge is becoming obsolete so quickly that all of us need to double our knowledge every 2 to 3 years in order to keep with the changes.
On the other hand, the increasing complexity, turbulence and uncertainty of the environment require different and greater knowledge. Modern business requires more than more knowledge and skills that are still inadequately present in the formal school education, i.e. the gap between business requirements and the knowledge acquired at school is growing. The period of mass producing is over and the customers are very selective. Increased consumer demands require new solutions and knowledge. Due to increasing competition, the organization is required to constantly revise its product and service mix, managerial methods, and to increase productivity. Modern conditions of dynamic competition, sophisticated information technology, knowledge economy, market globalization, have changed the relation to importance of human resources in organization. These conditions actualize the human capital as the strategic resource of every organization. Difference between the organizations exists exactly due to the difference between human capital, i.e. the organizations human resources, ways of their management and development.
This was acknowledged by Nwankwo (1991: 212) when he said that “it is not enough to get good human resources in the door, they have to be developed to enable them remain motivated and productive and to maintain a reasonable level of job satisfaction. Therefore, the next stage in human resources management, after the selection, and induction in the job, is staff development to ensure that the individuals are properly equipped with skills and knowledge to carry out the job. It improves
activities ranging from simple job training for lower level employees to long-term development of seminar executives”.
In a more and more global, complex and turbulent environment, knowledge is the only reliable source of competitive advantage. Traditional factors of manufacturing as the soil, labor and capital did not disappear, but their significance is not primary anymore. Knowledge is viewed as the key of realization of a competitive advantage. And therefore the question of where the corporative knowledge is located, how to release it and develop to achieve organizational goals has become very important. Since the organizational knowledge is largely located inside the human mind, i.e. the head of employees, as carriers of knowledge and activities, human resources are becoming the key factor of business success. Organizational development is always conditioned by human knowledge and skills. That is why; contemporary organizations pay more and more attention to the development of their employees.
Thus according to Haycox 2011 in his submission to metrofax.com proposed that proper training is one way to develop a company culture that embraces excellent customer services. Also Ituwe (1982: 183) maintained that “people would no longer be satisfied to chant bank slogans that do not measure with services”.
Thus, employee education and training are becoming an optimal answer to complex business challenges, and the management of human resources is taking central role in modern management. Through the process of employee training and development, the management of human resources provides constant knowledge innovation, creates conditions for mutual knowledge and experience exchange and proactive behaviour, in this way contributing to competitive advantage and satisfaction of all participants in business procedures.
However, the determination of the impact of the employee training and development programme in the operations is necessary for proper appreciation and application of the programme by banks especially the new generation bank that spend huge sums of money on the programme. All these are geared towards helping banks to operate with a competent, skilled and dynamic work force that can meet current standards, thus leading to optimal realization of organizational goals and objectives. It is under this premises that the project was undertaken to study the impact of employee training and development programme in the operation of Guaranty Trust Bank Plc.
1.2. STATEMENT OF PROBLEM
Academic qualifications, training and development programme ideally are designed to make employees better performers on their jobs or prepare them for future challenges. However, in practice this does not provide the desired impacts. People are supposed to be selected for training based on detailed HRM or organizational requirement, but this has not been the case in all situation in the new generation banks. Employees are selected for training mostly on the bases of loyalty to the boss and not training needs. One of the cardinal objectives of the new generation bank is to respond adequately to the current customer needs in banking services through the running of efficient and effective banking operations. However, the full realization of this objective is constrained by certain employees’ inadequacies in knowledge and skills.
More so, the smooth implementation of the programme is equally constrained by some problems, which include the followings
Running cost of some of the training and development programmes are very expensive
Misplaced priority due to poor assessment
Shortage of competent facilitator or trainers
Lack of full commitment on the part of some employees. wrong timing of the training exercise
Unsuitability of some training venues
Commitment of Time and Materials resources on the exercise
General fear and anxieties among some trainees
Shortage of relief staff in some posts
Lack of adequate evaluation and control system.
Though the problems are enormous, this research work is set to find solution to these problem and how adequate employee training and development programme impact in the operation of Guaranty Trust Bank Plc.
1.3. OBJECTIVES OF THE STUDY
The main objective of the study is to evaluate the impact of Employee training and development in the operation of New Generation Bank with reference to Guaranty Trust Bank Plc as a management tool adopted to exceed its customer service expectation, become a benchmark in the banking industry today and also to survive the dynamic and volatile competitive banking environment. Specifically, the study sought to:
* To identify some common problem encountered by the bank in its training and development programmes.
* To identify the influence of employee training and development programme and workers motivation and commitment.
* To evaluate the relationship between well trained and developed employees and the efficiency and effectiveness of the operation of Guaranty Trust Bank Plc.
* To access whether the benefit of the programme justify the cost of running the programme.
* To understand the concept and development and their daily application.
* To identify some problems/constraints commonly encountered by the bank in the course of running the programme.
1.4 RESEARCH QUESTIONS
In evaluating the impact of employ training and development programme in the operation of Guaranty Trust Bank Plc, the researcher would need to ascertain :
* What are the importance of well trained and developed employees in the operation of the Bank
* Whether employee training and development programme influence workers motivation and commitment
* What is concept of training and development and their daily application in the operations of the bank
* Ascertain whether benefit of the employee training and development programmes justify the cost of running it
* What are the problems/ constraints commonly encountered by these banks in the course of running the programme.
* How does the programme impact on customer satisfaction
1.5. FORMULATION OF HYPOTHESIE
In the view of the foregoing, the research were formulated, such that, when analyzed may offer possible solutions to the research question raised.
Hypothesis I
HO: Employee training and development programme do not influence workers motivation and commitment.
HI: Employee training and development influence workers motivation and commitment.
Hypothesis II
HO: The benefits of the programme does not justify the cost of running it.
HI: The benefits of the programme justify the cost of running it.
Hypothesis III
HO: The programme do not help to improve banks efficiency and effectiveness of operation
HI: The programme help to improve banks efficiency and effectiveness of operation.
1 .6. SIGNIFICANCE OF THE STUDY
The finding of the study will be significant to the growth of the banking industry. However, Guaranty Trust Bank will stand to benefit immensely from the study, since the research was aimed at evaluating and assessing how employee training and development programme imparted in its banking operation.
a. Basically, the study will enable banks and other organizations recognize and appreciate the impact of the programme in their operations when the realize how efficiently it proves the services of the organization.
b. It will also help banks to recognize and appreciate the impact of the programme in their operations.
c. It will provide the necessary information for other students and academic institutions venturing into further research on this area of study.
d. Recommendation of solutions to the findings would contribute immensely to the effective service delivery to the customers of other new generation banks.
e. Finally, the society in general would stand to gain from the research finding, since it is aimed at evaluating the importance of employee training and development programme in banks operation, and also provide comparable solutions for effective management process.
1.7 SCOPE OF DELIMITATION OF THE STUDY
The study was specifically aimed at evaluating the employee training and development programme of Guaranty Trust Bank Plc.
A comparative overview would be carried out among the new generation banks relating to their employee training and development programme in line with that of Guaranty Trust Bank plc. The population that formed the core respondents to the study include the bank staff and customers of Guaranty Trust Bank. The research looked into various source of information that contribute to the proper appraisal of the topic – Employee training and development programme. These include bank reports and statements, publications on training and employee development, adverts, and press release, books etc.
Limitations:
The researcher has decided to limit the research project to Guaranty Trust Bank in the view of the fact that he envisaged that carrying the research on the bank will give him a deep insight into the
training programme and development. However, the researcher is constrained by the following factors.
Time Constraints – One of the major constraints of the study is the time allocated within which this research will be conducted, complied, typed and submitted for assessment. This is a matter of much concern to the researcher, it is intended that adequate time based on the assessment of the researcher will be appointed to this work to accommodate other activities begging for attention.
Financial Constraints: The researcher considered the financial involvement in the research work and the need to meet up with standards, and the task of finishing this work, feared the inability to meet up with the financial demand bearing in mind that his only source of income is his salary.
Poor response from respondents: The researcher entertains fears that the study will be seriously hampered by poor response from respondents, who usually have an erroneous impression of people who conduct researcher work. This inevitable poor response from respondents is put into serious consideration in carrying out this research work.
General economic conduction: The researcher considers that general economic condition of the economy should not be overlooked. This is due to high cost of living and the constantly upward trend in the cost of materials. This factors will constitute a major constraints on this work and the writer does not intend to neglect them in this research work.
1.8 Conceptual Definition of Terms
For a better reading and understanding, the following terminologies are defined based on contextual meaning.
Business: This refers to the activity engaged in by an individual , group, or organization for the purpose of buying and selling product and services on commercial basis.
Development: Nwachukwu (1988:121) defines development as “the activities undertaken to expose an employee to perform additional duties and assume positions of importance in an organizational hierachy”. Evaluation: Any attempt to obtain information (feed back) on the effect of training programme, and to assess the value of training in the light of the information.
Employee: This is a person employed by an organization to work for payment of wages or salaries.
Human Resources: This means all the employees of an organization. Impact: Strong impression or effect made by an idea or action on people’s way of doing things.
Line Staff: This refers to all the employees of an organization excluding the management team.
Management: This is a process of or a group of employees responsible for planning, organizing, directing, co-ordinating and controlling of all the resources of an organization in order to attain organizational objectives.
Manpower planning: This refers to a strategy of , or the acquisition, utilization, improvement and preservation of an organization’s human resources .
New Generation: This means a period or stage coming into existence newly or more recent, or a group of people or organization associated with this period.
Operation: The normal way an organization runs its day-to day activities towards goals realization.
Personnel Appraisal: systematic assessment of an individual’s job performance so as to determine training needs, potential for promotion, eligibility for salary increment or management succession.
Productivity: Ability for or power of individual or organization to be productive or efficient in production.
Programme: A plan of activity designed for and carried out by an organization for the attainment of a particular goal or objectives.
1.9. HISTORY OF THE CASE STUDY
Guaranty Trust Bank Plc was incorporated on 20th July, 1990 as a
Private Limited Liability Company wholly owned by Nigerian citizens.
The bank obtained its Commercial banking license on 1st August,
1990 and commenced full operations on 11th February, 1991, The bank became a quoted public liability Company on 9th September, 1996, following the listing of its share in Nigeria stock exchange. On 5th February, the bank was issued a universal banking licence by the Central Bank of Nigeria.
The Bank through its successful initial public offer in 2001 and another 1,000,000,000. public offer in 2004, the bank raised in excess of about N40 Billion from the Nigeria capital market and its shares have since become one of the most actively traded stocks on the trading floors of the Nigeria stock exchange. Today, the banks unit share price is at N15.00 and the highest in the Banking sector, and has about over
1,000,000. share holders.
The bank in its bid to diversify its stock made the first public offer in
Dollar -GDR which further added value to its stock.
Guaranty Trust Bank has over 180 (One Hundred and Eighty) branches strategically located in major commercial centres across the country. In pursuit of its regional and global expansion initiatives, the
bank commissioned five offshore subsidiaries – Guaranty Trust Bank (Gambia, Sierra Leone, Ghana and Liberia, Cote D’voire GTbank Uk Limited, thus establishing as an international financial institution.
Guaranty Trust Bank demonstrates a culture of professionalism with the development of top quality personnel, technology and work processes. This is typified by an excellent customer service culture. At Guaranty Trust Bank, quality and timely service delivery are sacrosanct.
The bank is renowned as a first – class provider of financial services as well as a leading player in the Nigeria banking industry, the bank has conferred with several awards including the prestigious Nigeria stock exchange president Award in 1990, 2000, 2003, and has won many awards as best customer service bank such as Nigerian most customer focused Bank (KPMG) 2011 customer satisfaction survey, Best Bank in Nigeria(Euro money awards for excellence 2011) And has also made a mile-stone as the first African Bank, First Nigeria Company listed in the London Stock Market.
Guaranty trust bank put much emphasizes on employee training and development programmes. This gives the bank a competitive advantage over other new generation banks. Guaranty trust bank understand that human resources must be harnessed to bring out the best in them that is why the bank has training school where all the executive trainees (Fresher) are trained and developed for at least three months before they are deployed to various branches. Guaranty Trust Bank emphasizes the term “human ” and advocates investment in training and development. The bank adopts “commitment strategy, which according to Bar Chukwuemeka Nnadi (2010:20)citing Drucker states “it ensures that highly skilled and loyal employee give the organization a competitive advantage. Guaranty Trust Bank considers human resource as a human
being, who has personality, citizenship, and requires motivation, participations, satisfaction, incentives and reward.
Every year, the bank budget huge amount of money in training and development programme on both the new and old employees and this has manifested in the outstanding excellent customer services delivery that always exceed the stakeholders expectations.
CHAPTER ONE INTRODUCTION
1.1. BACKGROUND OF THE STUDY
Changes in technology, especially information technology, generate knowledge spreading up at tremendous speed, as well as its quick obsolence. In the period between 1900 and 1950, the amount of
human knowledge doubled, and since then it has doubled ever 5 to 8 years. Knowledge is becoming obsolete so quickly that all of us need to double our knowledge every 2 to 3 years in order to keep with the changes.
On the other hand, the increasing complexity, turbulence and uncertainty of the environment require different and greater knowledge. Modern business requires more than more knowledge and skills that are still inadequately present in the formal school education, i.e. the gap between business requirements and the knowledge acquired at school is growing. The period of mass producing is over and the customers are very selective. Increased consumer demands require new solutions and knowledge. Due to increasing competition, the organization is required to constantly revise its product and service mix, managerial methods, and to increase productivity. Modern conditions of dynamic competition, sophisticated information technology, knowledge economy, market globalization, have changed the relation to importance of human resources in organization. These conditions actualize the human capital as the strategic resource of every organization. Difference between the organizations exists exactly due to the difference between human capital, i.e. the organizations human resources, ways of their management and development.
This was acknowledged by Nwankwo (1991: 212) when he said that “it is not enough to get good human resources in the door, they have to be developed to enable them remain motivated and productive and to maintain a reasonable level of job satisfaction. Therefore, the next stage in human resources management, after the selection, and induction in the job, is staff development to ensure that the individuals are properly equipped with skills and knowledge to carry out the job. It improves
activities ranging from simple job training for lower level employees to long-term development of seminar executives”.
In a more and more global, complex and turbulent environment, knowledge is the only reliable source of competitive advantage. Traditional factors of manufacturing as the soil, labor and capital did not disappear, but their significance is not primary anymore. Knowledge is viewed as the key of realization of a competitive advantage. And therefore the question of where the corporative knowledge is located, how to release it and develop to achieve organizational goals has become very important. Since the organizational knowledge is largely located inside the human mind, i.e. the head of employees, as carriers of knowledge and activities, human resources are becoming the key factor of business success. Organizational development is always conditioned by human knowledge and skills. That is why; contemporary organizations pay more and more attention to the development of their employees.
Thus according to Haycox 2011 in his submission to metrofax.com proposed that proper training is one way to develop a company culture that embraces excellent customer services. Also Ituwe (1982: 183) maintained that “people would no longer be satisfied to chant bank slogans that do not measure with services”.
Thus, employee education and training are becoming an optimal answer to complex business challenges, and the management of human resources is taking central role in modern management. Through the process of employee training and development, the management of human resources provides constant knowledge innovation, creates conditions for mutual knowledge and experience exchange and proactive behaviour, in this way contributing to competitive advantage and satisfaction of all participants in business procedures.
However, the determination of the impact of the employee training and development programme in the operations is necessary for proper appreciation and application of the programme by banks especially the new generation bank that spend huge sums of money on the programme. All these are geared towards helping banks to operate with a competent, skilled and dynamic work force that can meet current standards, thus leading to optimal realization of organizational goals and objectives. It is under this premises that the project was undertaken to study the impact of employee training and development programme in the operation of Guaranty Trust Bank Plc.
1.2. STATEMENT OF PROBLEM
Academic qualifications, training and development programme ideally are designed to make employees better performers on their jobs or prepare them for future challenges. However, in practice this does not provide the desired impacts. People are supposed to be selected for training based on detailed HRM or organizational requirement, but this has not been the case in all situation in the new generation banks. Employees are selected for training mostly on the bases of loyalty to the boss and not training needs. One of the cardinal objectives of the new generation bank is to respond adequately to the current customer needs in banking services through the running of efficient and effective banking operations. However, the full realization of this objective is constrained by certain employees’ inadequacies in knowledge and skills.
More so, the smooth implementation of the programme is equally constrained by some problems, which include the followings
Running cost of some of the training and development programmes are very expensive
Misplaced priority due to poor assessment
Shortage of competent facilitator or trainers
Lack of full commitment on the part of some employees. wrong timing of the training exercise
Unsuitability of some training venues
Commitment of Time and Materials resources on the exercise
General fear and anxieties among some trainees
Shortage of relief staff in some posts
Lack of adequate evaluation and control system.
Though the problems are enormous, this research work is set to find solution to these problem and how adequate employee training and development programme impact in the operation of Guaranty Trust Bank Plc.
1.3. OBJECTIVES OF THE STUDY
The main objective of the study is to evaluate the impact of Employee training and development in the operation of New Generation Bank with reference to Guaranty Trust Bank Plc as a management tool adopted to exceed its customer service expectation, become a benchmark in the banking industry today and also to survive the dynamic and volatile competitive banking environment. Specifically, the study sought to:
* To identify some common problem encountered by the bank in its training and development programmes.
* To identify the influence of employee training and development programme and workers motivation and commitment.
* To evaluate the relationship between well trained and developed employees and the efficiency and effectiveness of the operation of Guaranty Trust Bank Plc.
* To access whether the benefit of the programme justify the cost of running the programme.
* To understand the concept and development and their daily application.
* To identify some problems/constraints commonly encountered by the bank in the course of running the programme.
1.4 RESEARCH QUESTIONS
In evaluating the impact of employ training and development programme in the operation of Guaranty Trust Bank Plc, the researcher would need to ascertain :
* What are the importance of well trained and developed employees in the operation of the Bank
* Whether employee training and development programme influence workers motivation and commitment
* What is concept of training and development and their daily application in the operations of the bank
* Ascertain whether benefit of the employee training and development programmes justify the cost of running it
* What are the problems/ constraints commonly encountered by these banks in the course of running the programme.
* How does the programme impact on customer satisfaction
1.5. FORMULATION OF HYPOTHESIE
In the view of the foregoing, the research were formulated, such that, when analyzed may offer possible solutions to the research question raised.
Hypothesis I
HO: Employee training and development programme do not influence workers motivation and commitment.
HI: Employee training and development influence workers motivation and commitment.
Hypothesis II
HO: The benefits of the programme does not justify the cost of running it.
HI: The benefits of the programme justify the cost of running it.
Hypothesis III
HO: The programme do not help to improve banks efficiency and effectiveness of operation
HI: The programme help to improve banks efficiency and effectiveness of operation.
1 .6. SIGNIFICANCE OF THE STUDY
The finding of the study will be significant to the growth of the banking industry. However, Guaranty Trust Bank will stand to benefit immensely from the study, since the research was aimed at evaluating and assessing how employee training and development programme imparted in its banking operation.
a. Basically, the study will enable banks and other organizations recognize and appreciate the impact of the programme in their operations when the realize how efficiently it proves the services of the organization.
b. It will also help banks to recognize and appreciate the impact of the programme in their operations.
c. It will provide the necessary information for other students and academic institutions venturing into further research on this area of study.
d. Recommendation of solutions to the findings would contribute immensely to the effective service delivery to the customers of other new generation banks.
e. Finally, the society in general would stand to gain from the research finding, since it is aimed at evaluating the importance of employee training and development programme in banks operation, and also provide comparable solutions for effective management process.
1.7 SCOPE OF DELIMITATION OF THE STUDY
The study was specifically aimed at evaluating the employee training and development programme of Guaranty Trust Bank Plc.
A comparative overview would be carried out among the new generation banks relating to their employee training and development programme in line with that of Guaranty Trust Bank plc. The population that formed the core respondents to the study include the bank staff and customers of Guaranty Trust Bank. The research looked into various source of information that contribute to the proper appraisal of the topic – Employee training and development programme. These include bank reports and statements, publications on training and employee development, adverts, and press release, books etc.
Limitations:
The researcher has decided to limit the research project to Guaranty Trust Bank in the view of the fact that he envisaged that carrying the research on the bank will give him a deep insight into the
training programme and development. However, the researcher is constrained by the following factors.
Time Constraints – One of the major constraints of the study is the time allocated within which this research will be conducted, complied, typed and submitted for assessment. This is a matter of much concern to the researcher, it is intended that adequate time based on the assessment of the researcher will be appointed to this work to accommodate other activities begging for attention.
Financial Constraints: The researcher considered the financial involvement in the research work and the need to meet up with standards, and the task of finishing this work, feared the inability to meet up with the financial demand bearing in mind that his only source of income is his salary.
Poor response from respondents: The researcher entertains fears that the study will be seriously hampered by poor response from respondents, who usually have an erroneous impression of people who conduct researcher work. This inevitable poor response from respondents is put into serious consideration in carrying out this research work.
General economic conduction: The researcher considers that general economic condition of the economy should not be overlooked. This is due to high cost of living and the constantly upward trend in the cost of materials. This factors will constitute a major constraints on this work and the writer does not intend to neglect them in this research work.
1.8 Conceptual Definition of Terms
For a better reading and understanding, the following terminologies are defined based on contextual meaning.
Business: This refers to the activity engaged in by an individual , group, or organization for the purpose of buying and selling product and services on commercial basis.
Development: Nwachukwu (1988:121) defines development as “the activities undertaken to expose an employee to perform additional duties and assume positions of importance in an organizational hierachy”. Evaluation: Any attempt to obtain information (feed back) on the effect of training programme, and to assess the value of training in the light of the information.
Employee: This is a person employed by an organization to work for payment of wages or salaries.
Human Resources: This means all the employees of an organization. Impact: Strong impression or effect made by an idea or action on people’s way of doing things.
Line Staff: This refers to all the employees of an organization excluding the management team.
Management: This is a process of or a group of employees responsible for planning, organizing, directing, co-ordinating and controlling of all the resources of an organization in order to attain organizational objectives.
Manpower planning: This refers to a strategy of , or the acquisition, utilization, improvement and preservation of an organization’s human resources .
New Generation: This means a period or stage coming into existence newly or more recent, or a group of people or organization associated with this period.
Operation: The normal way an organization runs its day-to day activities towards goals realization.
Personnel Appraisal: systematic assessment of an individual’s job performance so as to determine training needs, potential for promotion, eligibility for salary increment or management succession.
Productivity: Ability for or power of individual or organization to be productive or efficient in production.
Programme: A plan of activity designed for and carried out by an organization for the attainment of a particular goal or objectives.
1.9. HISTORY OF THE CASE STUDY
Guaranty Trust Bank Plc was incorporated on 20th July, 1990 as a
Private Limited Liability Company wholly owned by Nigerian citizens.
The bank obtained its Commercial banking license on 1st August,
1990 and commenced full operations on 11th February, 1991, The bank became a quoted public liability Company on 9th September, 1996, following the listing of its share in Nigeria stock exchange. On 5th February, the bank was issued a universal banking licence by the Central Bank of Nigeria.
The Bank through its successful initial public offer in 2001 and another 1,000,000,000. public offer in 2004, the bank raised in excess of about N40 Billion from the Nigeria capital market and its shares have since become one of the most actively traded stocks on the trading floors of the Nigeria stock exchange. Today, the banks unit share price is at N15.00 and the highest in the Banking sector, and has about over
1,000,000. share holders.
The bank in its bid to diversify its stock made the first public offer in
Dollar -GDR which further added value to its stock.
Guaranty Trust Bank has over 180 (One Hundred and Eighty) branches strategically located in major commercial centres across the country. In pursuit of its regional and global expansion initiatives, the
bank commissioned five offshore subsidiaries – Guaranty Trust Bank (Gambia, Sierra Leone, Ghana and Liberia, Cote D’voire GTbank Uk Limited, thus establishing as an international financial institution.
Guaranty Trust Bank demonstrates a culture of professionalism with the development of top quality personnel, technology and work processes. This is typified by an excellent customer service culture. At Guaranty Trust Bank, quality and timely service delivery are sacrosanct.
The bank is renowned as a first – class provider of financial services as well as a leading player in the Nigeria banking industry, the bank has conferred with several awards including the prestigious Nigeria stock exchange president Award in 1990, 2000, 2003, and has won many awards as best customer service bank such as Nigerian most customer focused Bank (KPMG) 2011 customer satisfaction survey, Best Bank in Nigeria(Euro money awards for excellence 2011) And has also made a mile-stone as the first African Bank, First Nigeria Company listed in the London Stock Market.
Guaranty trust bank put much emphasizes on employee training and development programmes. This gives the bank a competitive advantage over other new generation banks. Guaranty trust bank understand that human resources must be harnessed to bring out the best in them that is why the bank has training school where all the executive trainees (Fresher) are trained and developed for at least three months before they are deployed to various branches. Guaranty Trust Bank emphasizes the term “human ” and advocates investment in training and development. The bank adopts “commitment strategy, which according to Bar Chukwuemeka Nnadi (2010:20)citing Drucker states “it ensures that highly skilled and loyal employee give the organization a competitive advantage. Guaranty Trust Bank considers human resource as a human
being, who has personality, citizenship, and requires motivation, participations, satisfaction, incentives and reward.
Every year, the bank budget huge amount of money in training and development programme on both the new and old employees and this has manifested in the outstanding excellent customer services delivery that always exceed the stakeholders expectations.
This material content is developed to serve as a GUIDE for students to conduct academic research
IMPACT OF EMPLOYEE TRANING AND DEVELOPMENT PROGRAMME IN THE OPERATION OF NEW GENERATION BANKS>
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