The perceived effect of staff development on organisational performance in selected First Banks in Lagos State, Nigeria

Abstract

Most organisations have realised that employees are their most valuable assets which require development in order to improve their loyalty and  motivate them and hence increase productivity to achieve their vision. It is in this light that this study investigated the effect of staff development on organisational performance in selected banks in Lagos State, Nigeria. This study adopted a descriptive survey research design through the use of questionnaires. The population of the study comprised 7,616 staff members of First Bank of Nigeria PLC, which was further reduced to 380 personnel as the sample size through the use of a formula derived by Taro Yamanne. Proportional sampling technique was used to select the staff from ten selected branches in Lagos State. The data was analysed using a statistical tool of Regression Analysis with the aid of the Statistical  Package for Social Sciences (SPSS version 23.0) at 5% level of significance. Descriptive Statistics was also used to analyse the relevant data. Findings revealed that there staff development has a significant effect on organisational performance. The study concluded that staff development should be  held consistently in order for employees to have career advancement and for increased loyalty in the organisation, which in turn increases their job performance. The aggregate performance will increase the organisational performance. The implication is that a well-trained staff will have a positive impact on organisational performance as it will add more effectiveness and efficiency to their output and will in turn improve the organisational performance.

Keywords: Staff development, education, training, mentoring, organisational performance.