Academic journal article Ife Psychologia

Human Resource Utilization: Employers' Preference between Polytechnic and University Graduates in the Financial Sector of the Nigerian Economy

Academic journal article Ife Psychologia

Human Resource Utilization: Employers' Preference between Polytechnic and University Graduates in the Financial Sector of the Nigerian Economy

Article excerpt

This study investigated the manpower demand for university and polytechnic graduates in Nigerian banking industry. A descriptive research survey was adopted and simple random sampling technique was used for the study. Three research hypotheses were formulated and tested at 0.05 level of significance using t-test and correlation statistical tools. Data were collected using self-constructed questionnaire on manpower demand for university and polytechnic graduate in the banking industry (QFMDFUAPG) to obtain information on the demand for university and polytechnic graduates, employee's qualification and employer's preference between polytechnic and university graduates in the banking industry. Two hundred (200) copies of the questionnaire were administered to Human Resource Managers of fifty banks in Lagos State to obtain information on their demand for University and Polytechnic graduates, employee's qualification and employer's preference of workers. The results of (he findings revealed that: (i) There is significant difference between the demand for university and polytechnic graduates. (ii) There is no significant relationship between employee's qualification and job allocation. (iii) There is no significant relationship between skills acquired by employee's and employer's preference for polytechnic or university graduates. It was therefore, recommended that the disparity between the demand for university and polytechnic graduates should be addressed to give a level playing ground for both university and polytechnic graduates competing for employment in Nigerian banking industry.

Keywords: Human Resource utilization, Employer's preference, Graduates, Manpower, Banking industiy, financial sector

Education is regarded as both consumer and capital good because it offers utility to a consumer and also serves as an input into the production of other goods and services. As a capital good, education can be used to develop the human resources necessaiy for economic and social transformation. The focus on education as a capital good relates to the concept of human capital, which emphasizes that the development of skills is equally an important factor in production as are finance, natural resources, and physical equipment. It is widely accepted that education creates improved citizens and helps to upgrade the general standard of living in a society. Therefore, positive social change is likely to be associated with the production of qualitative citizemy. The educational system of any country should be structurally consistent with its developmental needs. This implies that the systems should produce the right type of manpower, in the right number, in the right quantity, and at the right time. Here lies the close relationship between educational planning and human resource planning. In fact, educational planning and human resource planning are two sides of a coin. Human resource planning is sometimes called the employment playing or personnel management, even though the latter is often viewed from a narrower perspective. Human resource planning is the process of setting human resource goals, devising and implementing programmes of action to achieve such goals, and evaluating the success of the programmes (Gephart and Charach, 1984).

According to Kuznet (1986), human resource planning is the process of determining objectives, policies and programmes that will develop; distribute and utilize manpower with a view to achieving a country's broader aims of socio-economic and political development. The human resource planning covers both human resource development and utilization. Human resource development embraces the process of increasing human knowledge, skills and capacities while human resource utilization is concerned with programmes for the optimal employment of labour in productive economic activities. Although, national development planning started in Nigeria in the 1940s while Manpower planning started much later. One of the reasons that generated the need for systematic manpower planning in the country, particularly since the early 1960s was the need to provide skilled manpower for the expanding economy and to gear the educational system to meet such need. …

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