Human Resource Variables and Work-Related Stress in the Nigerian Banking Industry

International Journal of Research and Innovation in Social Science (IJRISS) | Volume V, Issue XII, December 2021 | ISSN 2454–6186

Human Resource Variables and Work-Related Stress in the Nigerian Banking Industry

 Clement Adewole, Ph.D., Jessica Eboh, Victor Odumu
Department of Banking and Finance, University of Jos, Nigeria

Abstract: The Nigerian banking sector has been characterized by uncertainties which further aggravated the insecurity of jobs in the sector, resulting into work-related stress. Human Resources have been identified by many authorities as the most important asset of any organization. This is because they are the users of the rest of the resources in the organization. This work assessed the Effect of human resource variables and work-related stress in Nigerian banking industry. Data was collected using questionnaire administered to 1024 employees from the selected banks. The Spearman Rank correlation coefficient was used to test the relationship between the variables under review. Findings revealed a positive and significant relationship between performance appraisal, training and development, career management and work-related stress. Based on the findings, it is concluded that human resource variables have significant influence on work related stress in Nigerian banking industry. To this effect, the study recommended that Bank Management should provide balance scorecard approach to employees’ performance, thus promoting employees when due; Continue to train employees in groups and through computer-based learning in order to stay at the forefront of one’s profession and Bank Management should continue to hire employees who are suited, new competencies and skilful for the job.

Keywords: Human, Resource, Variables, Work, Stress

I. BACKGROUND OF THE STUDY

The banking industry in Nigeria has undergone significant changes over time through ownership and operations. These changes have created several challenges in the banking industry which are identified as deregulation of financial sector, globalization, acceptable requirement that is recognized internationally etc. During the period of Soludo, the banking industry was so feeble that it presents enormous bottle necks. It acknowledged some specific bank challenges like those having weak structures, operation and low assets (Soludo, 2004). However, the Banking sector strived to transform their services from traditional to technological base by creating new services, new processes and product in order to keep a strong competitive advantage over other competitors. One of the methods for banks to improve is having effective HRM practices. HRM has moved from transactional roles, traditional personnel and administrative that are increasingly outsourced.

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