IMPACT OF LABOUR TURNOVER ON PERFORMANCE IN BANKING SECTOR IN NIGERIA
CHAPTER ONE
ABSTRACT
In the midst of other resources, human capital is considered the most valuable in Organizations. The contribution of human resources to organization performance is significant. Organization must ensure maximum cost reduction to attain high level of profitability and one way of doing that is by attending to labour issue. Hence, the aim of this study is to examine labour turnover relationship with the p0erformance of Nigerian banking industry. Survey method was used: the population of the study comprised the entire commercial banks in the three sensational districts of Oyo State, Nigeria. The research work employed the use of open and close ended questionnaires in order to elicit relevant information from the respondents, the open ended questionnaire was used during the pilot study with 40 respondents chosen from the existing 23 banks in Nigeria while the close emended questionnaire was developed in line with livert five point rating scales. The research work used random and purposive sampling techniques in the course of administered the questionnaires to 40 respondents who were the employees of the bank out of the 40 questionnaires administered 30 questionnaires were considered to be adequate for analytical purpose representing 75% respondent rate., descriptive statistics, correction and regression analyses were used to analysis and test the hypothesis at 0.5 level of significance. It was found that the result showed that labour turnover was significantly influenced by job stress variables with strong positive correlation in relationship and thus, suggested that a pragmatic review of the human resources management polices as well as organizational policies to induce serene atmosphere conditions where no one is carrying out responsibilities in fear or operating under duress i.e. a family live work environment.
INTRODUCTION
In Nigeria today, the world is constantly changing as a result of different challenges emanating from the political, legal as well as the technological environment of business and this explains why the nature of work is changing at whirlwind work itself is a natural phenomenon which is fundamental to human existence and survival in a nutshell.