The Impact of Manpower Development in Insurance Industry
The Impact of Manpower Development in Insurance Industry
Abstract of The Impact of Manpower Development in Insurance Industry
This research study is an attempt to X-ray and given an indepth analysis of the importance and effectiveness of training programmes in Niger Insurance Plc. Training is a vital and necessary activity in all organization, it plays a large part in determination, it plays a large part in determining the effectiveness and efficiency of the organization. Therefore, every organization should continually train its employees for attainment of its goals and objectives. For the purpose of this research of the researcher made use of data collected through primary and secondary sources primary data were collected by the researcher himself directly from oriental insurance of Nigeria, Plc through oral interview and questionnaire. In addition, the data collected were analysed. In analyzing the data were first presented in tables and them interpreted and analysed graph were also used in some curses to demonstrate result. The finding disclose that training programmes are available and that every employees benefits from the programme in the company. Thus, in conclusion the researcher emphasizes the need for continuous training of employees.
Chapter One of The Impact of Manpower Development in Insurance Industry
INTRODUCTION
BACK GROUND OF THE STUDY
The importance of human resources in an organization cannot be over-emphasized. Every organization cannot depend more on this resources for attainment of its objectives. However, the objectives cannot be achieved unless the organization is made up of the employees who have skills, knowledge and abilities to work. Although employees may have the abilities, skills and knowledge but in the long run, they may find it very difficult to cope with their jobs due to many factors such as organization charges, job charges, technological changes and so on.
Therefore management involves manpower training and development as one of its various activities. When workers are employed they are due for retirement but they are being trained in order to increase their abilities, skills and knowledge.
Experience has shown that may employees have failed in organization because their need for training was not identified or provide for as an indisperiable part of management function. However, employees are not just trained for their own benefits only, but the organization manpower training program is a very important activity management afford to miss because of its various objectives. A lot of reasons explain why organization carryout manpower training.
These include:
· To improve the quality of output
· To improve the quantity of output
· To lower the costs of waste and equipment maintenance
· To prevent turnover, absention and increase employees job satisfaction
· To prevent employees absolence
Considering the benefits of manpower training mentioned above, one is forced to stay that manpower training is indispensably necessary for attainment of organizational goals. A substantial amount of money is needed for his program but it is regarded as money well invested because of its various benefits.
Infacts the importance of manpower training cannot be over emphasized. It pays a lay part in determining the effectiveness and efficiency of the organization.
HISTORICAL BACKGROUND OF NIGER INSURANCE PLC
Niger Insurance Pc was granted and licensed by the federal minister of finance with the authority of the president in council on 12th June, 1987, The oriental insurance started full operation with share capital of twenty is full indigenous. It is owned by Nigerian citizens, associations, Anambra State Government, Enugu State Government and Ebonyi State Government.
STATEMENT OF THE PROBLEMS
Some organization performs better than others; training of manpower is not considered necessary. Organization training some category of employees. Manpower training have really effected oriental insurance company achieve its goal.
Selecting of worker to be training of worker trained are normally done by the management.
The head office of the oriented insurance is located at a city. The oriental insurance is located at a city. The oriented insurance is controlled by Board of Directors.
The Board of Directors is made up of eight members, However, the day to day management of the bank is in the hands of the management. For now the oriental insurance has branches in Enugu, Onitsha, too at Lagos, Nnewi and Aba. However, more branches are being planed for Kano and other major cities in Nigeria. The branches are headed by branch manager.
OBJECTIVES OF THE STUDY
Following the problem already stated above it is the objectives of this research to determine the following.
1. To deter find out the effect of training excises on the employees in the financial institutution with particular to oriental insurance.
2. To assess category of employee who benefit and often.
3. To asses the performance of employees who have been trained
4. To the benefited from manpower training program.
5. To determine the training needs of employee of oriental insurance.
6. To find out whether employees and encouraged to attend these training programs and ways they are being encouraged. Finally the researcher would recommendation that would be useful the company in planning and execution of training program.
RESEARCH Questions
1. Does Niger insurance engage in any form of employee training?
2. Dos manpower training exercise affect employee in financial institutions?
3. Does Niger insurance benefited from categories of training offered by financial institution.
4. Does the employee encourages about this training progamme?
SIGNIFICANCE OF STUDY
For the manpower programme to be effective, its objectives, benefits and processes most be clearly understood from a utility ration stand point.
Therefore, if properly done, it will be used as a means of increasing effectiveness and efficiency of workers for attainment of the organizational goals.
Thus, the finding and recommendation to be made from this study will be very useful to the students of insurance department and others in the related field. Who would head personnel departments of various organization.
The study will also be useful to the institution in terms of implementation and subsequent research by the institution management it will also be very useful to both students and researchers who will do a related research on manpower training and other topics on human resources management.
SCOPE AND LIMITATION OF THE STUDY
In carry out this research, the researcher encountered numerous problem, but it is the intention of the researcher to maintain just very few problems that affected this research work.
(a) Finance: Finance was the greatest difficulties the researcher encountered in writing this research, so it because necessary for the researcher to limit his spending in the project to the size of his meager purse.
(b) Time: Time was also another problem that affected this research. The research was just one of courses that need equal attention of the researcher. Period of normal lectures and other assignment share the same term with the researcher yet it is no exaggeration to say that more than 30 percent of the available for the researchers studies was spent on this work. The researcher missed wordier to keep appointment connected with this research.
(c) Respondent: Although the researcher got a good percentage of responses to this questionnaires, it was not easy for the researcher to convince them.
The researcher also tried as much as possible to establish cordial relationship with the public relation officer, senior manager (personnel) and other personnels is the company in order to get concrete information from them.
DEFINITION OF OPERATION TERMS
1. Development: Deals with the activities undertaken to expose an employees to perform additional duties and assume positions of importance in the organizational hierarchy.
2. Effectiveness: Producing the result that is wanted or intended.
3. Efficiency: The quality of doing something well with no waste of time or money.
4. Manpower: All employees in an organization from chief executives officer down.
5. Organization: An economic establishment set up with the aim of maximizing profit.
6. Productivity: A measurement of the efficiency of production, a ratio of output to input let 10 units per man hours.
7. Training: The process of learning the skills that you need to do a job.
8. Evaluation: The weighing of an individuals fitness for a job in term of the job duties of requirement.
9. Respondent: They are those that give response questionnaire being set to them by researcher.
10. Absorbance: The process of becoming obsolete, paving in to discuss becoming out of date.