Finance

Bankers’ institute wants banks to cease unreasonable target setting for staff

The Chartered Institute of Bankers of Nigeria (CIBN) has called on banks’ managements to stop setting unreasonable targets for their staff.

The Institute made the call in Abuja on Wednesday while presenting a research report with title ‘The Analysis of Human Capital Attrition in an Evolving Glocal Context: A Case Study of the Nigerian Banking Industry.’

The research was presented at the 15th Annual Banking and Finance Conference of the institute with title

‘Repositioning the Financial Services Industry for an Evolving Glocal Context.’

Dr Grace Makinde, the Coordinator of the research, said undue targets given to bank staff by their managers contributed to human capital attrition in the banking industry.

She said that employees’ attrition impacted negatively on the economic performance of any organisation or industry.

Makinde, a Senior Lecturer at Babcock University, said that work load, job recognition and work environment be given due attention by managers in the industry.

She suggested that regular review of policies and benchmark work pattern to meet international best practices be adopted in the banking sector.

According to her, the banking industry ”was bleeding, people are leaving and it is affecting all of us.

”If we can work on these push factors, things that are pushing people out of the work place then, many workers will prefer to stay.

”They will stay when the environment is conducive and culture acceptable,” she said.

Dr Ken Opara, the President/Chairman of CIBN, said that the recommendations from the research and the event would be disseminated to policy makers and participants.

”As a pivotal sector of the economy, we are not oblivious of the “brain drain or Japa syndrome affecting the workforce in our country.

”This is an annual event of our Institute that offers the banking profession a platform to engage with stakeholders and the economy on developments affecting the industry.

”We are in the digital age where technology has made a significant impact on every industry, including the financial services industry,” he said.

Opara said that technology had transformed financial services with the latest fintech solutions and modern trends.

”As a result, the financial services industry would need to adapt to this much faster pace of change.

”Services, products and technologies that were new and useful yesterday will not necessarily be so soon.

”This year’s edition of the conference aims to consider the forces that could significantly impact the overall landscape of the financial services industry in a rapidly evolving world,” he said.

The conference attracted various stakeholders from the financial services industry across the country.

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