Effectiveness of Training and Development on Employees’ Performance and Organisation Competitiveness in the Nigerian Banking Industry

Abstract

Training and development is an indispensable strategic tool for enhancing employee performance and organizations keep increasing training budgets on a yearly basis with the belief that it will earn them a competitive edge. The main objective of this study is to examine the effectiveness of training and development on employees’ performance and the organization's competitive advantage in the Nigerian banking industry. A descriptive research method was adopted for this study using two hundred and twenty-three valid questionnaires which were completed by selected banks in Lagos State, South-West Nigeria using a simple random sampling technique. The data collected were carefully analyzed using descriptive statistics to represent the raw data in a meaningful manner. The results show that a strong relationship exists between training and development, employees’ performance, and competitive advantage. The summary of the findings indicates that there is a strong relationship between the tested dependent variable and the independent construct. However, bank management should not relent in their quest to train their staff to develop new ideas that will keep improving and retaining employee performance.