STAFF TRAINING AND MANAGEMENT DEVELOPMENT AS THE PREDICTOR OF CORPORATE PERFORMANCE
Keywords:Staff Training, Management Development, Predictor, Corporate performance
This study was aimed at establishing the position of staff training and management development as the predictor of corporate performance using Diamond Bank Plc and PZ Cussons Nigeria Plc. as the focus of the research effort. Modern business organizations are beginning to realize that staff training and management development of the workforce is the key factor for achieving organizational effectiveness and it is largely the predictor of corporate performance. For this reason, many enterprises are increasing their annual budget devoted to training and development of employees. Training and development should be a continuous effort in an organization due to its role in the improvement of productivity and enhancement of corporate profitability. Descriptive survey research design was adopted in this study. Instrument used to gather data was questionnaire designed on 5-point Likert scale of 1-5 ranging from strongly agree to strongly disagree. Tables and percentages were used to analyze the data provided in the completed questionnaires. Chi-square inferential statistical tool was used to test the hypothesis of the study stated in null terms as follows: “staff training and management development is not a veritable predictor of corporate performance.” The result of the tested hypothesis showed that chi-square calculated value (X2 cal 26.74) exceeded the table value of chi-square (X2 tab 9.49). The result led to the rejection of the null hypothesis (Ho) and the acceptance of the Alternative hypothesis (Hi). The result strongly buttressed the point that Staff Training and Management Development of the workforce of an organization serves as the predictor of corporate performance. Training and development of employees in Diamond Bank Plc. and PZ Cussons Nigeria Plc. is a strong factor that is enhancing performance of the two organizations. Training and development enriches employees’ skills and knowledge which they bring to bear on their job and this leads to improved productivity, enhanced organizational effectiveness and increased profitability. Organizations operating in today’s ever-competitive Business environment are therefore advised to uphold training and development of the workforce as an essential factor of organizational success and survival.