HR Planning and Corporate Performance in the Nigerian Banking Sector

By Nnamseh, Michael P. | Review of Management, December 2012 | Go to article overview

HR Planning and Corporate Performance in the Nigerian Banking Sector


Nnamseh, Michael P., Review of Management


Introduction

Planning is an essential process of management (Jerome, 2010). Human Resource Planning (HRP) provides the foundation for establishing an effective human resource management functions. It also allows the human resource management functions to position itself to take the best advantage of fluctuations in the economy or labour market. The likely effects of future economic, social and legislative conditions or organisational changes can be converted from constraints and pressure to challenges and opportunities.

Lloyd and Rue (2004) defined human resource planning (HRP) as the process of "getting the right number of qualified people into the right job at the right time". It could also mean the system of matching the supply of people-internally (existing employees) and externally (those to be hired or searched for) with the openings that organisation expects to have over a given time frame. The long-term success of any organisation ultimately depends on having the right people in the right job at the right time. Organisation objectives and the strategies for achieving those objectives are meaningful only when people with the appropriate skills, talents, and desire are available to carry out those strategies.

The need for human resource planning (HRP) is due to significant lead time that normally exists between the recognition of the need to fill a job and the securing of a qualified person to feel that need. Thus, the success of HRP depends largely on how closely the human resource department can integrate effective people planning with the organisation's business planning process. Unfortunately, however, HRP is often inadequately tied to overall corporate planning.

Although, HRP is seemingly a universally acceptable concept for the sustainable success of contemporary organizations'; there appear to be some doubt and controversy on the role it plays in the achievement of enterprise objectives. Scholars like Ulrich (1997) and Truss (2001) believe that with appropriate human resource planning firms can achieve their goals; hence they justify the huge investment on HRP. To the contrary, Purcel (2003) and Vladimir (2006) believe that given the enormous resources at firm's disposal, achieving enterprise objective can be feasible without the rigours of human resource planning. Given this controversial opinions, the questions, therefore are, can the investment made by firms on HRP be justified in terms of organizational performance? Does HRP make any positive impact on corporate performance? This paper seeks to find answers to these questions.

Objectives of the Study

This paper is modeled to achieve the following objectives:-

i. evaluate the importance of HRP in organisation;

ii. determine the relationship between HRP and organizational productivity; and

iii. assess the relationship between the benefits derivable from HRP are the cost of HRP.

Theoretical Framework

The belief that human resource is the most important resource available to the organisation and that HRP, if carried out properly, has implications on corporate performance has been prevalent among scholars and management practitioners for many years (Almus, 2009). Interest in this area has recently intensified as most scholars favour the opinion that, collectively, a firm's human resource can provide a unique source of competitive advantage that will be difficult for competitors to replicate, if the human resource is well planned for. For example, Penrose (1995), Russell, Terborg and Powers (1992), Stanger (2000) and Porter and Lawler (2008) drawing on Barney's (1991) resource-based theory of the firm contend that human resource can provide a source of sustained competitive advantage when:

i. the human resource is properly planned for in terms of the right number, right kind of skills and the right mix that will be required now and in the foreseeable future;

ii. the recruited human resource are trained and developed, according to the training needs and objectives of the organisation so as to be able to add, maximally, to the firm's production processes because according to Porter and Lawler (2008), levels of individual performance must always matter; and

iii. …

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