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ASSESSMENT OF HUMAN RESOURCES MANAGEMENT IN A PRIVATE SECTOR ORGANIZATION (A STUDY OF FIDELITY BANK PLC)

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Abstract

This study is titled “Assessment Of Human Resources Management In Private Sector Organization (A Study Of Fidelity Bank Plc). Human resources management is the major force that powers other resources towards the achievement of an organization in terms of profitability, policies and set goals. Human resources management was defined as having the right numbers and types of employees who must be managed in such a way that they will be able to achieve their personal and organizational objectives simultaneously. Human Resources management was assessed through profitability and cost reduction. Functional areas of human resources management include personnel planning, recruitment and selection; education, training and development; compensation; health and safety; employee and labour relations; and personnel research. The tools 0f analyses in this study were multiple regression and the analysis of variance (ANOVA). The study tested the hypothesis that profitability is not dependent on human resources and admin cost of an organization; and the hypothesis that personnel cost is not directly attributable to level of productivity of an organization. The results showed that cost of human resources varies directly with profitability (performance) whereas, the change in administrative overheads do not affect profitability or performance. It was recommended that Fidelity Bank Plc should consistently groom her human resources department for high level performance. Cut cost on administrative overhead, cut down on taxation by devising tax avoidance; synergy of the different departments for better performance; and pursuing of policies of best practice in the banking industry.