WORKFORCE AGILITY AND THE PERFORMANCE OF THE BANKING SECTOR IN NIGERIA

Gedu Godwin Toritseju, Dadzie Bawo Cynthia and Miebi Evelyn

1&3Department of Maritime and Business Studies, Delta State School of Marine Technology, Burutu, Nigeria, 2Department of Business Administration, Nnamdi Azikiwe University, Awka, Nigeria

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ABSTRACT

Surviving and prospering in a competitive environment of continuous and unpredictable change by reacting quickly and effectively to changing markets requires an agile workforce. Despite increasing recognition that workforce agility is critical to achieve competitiveness, the influence of workforce agility on organizational performance has not yet been systematically studied. The study explored the significant influence of workforce agility attribute (proactivity) on organizational performance of selected firms in Nigerian Banking industry. Structured questionnaire was administered to a sample of 363 individuals involved in managerial activities in the three selected firms. Data were analyzed with spearman rank correlation coefficient using statistical package for social sciences (SPSS). Our findings revealed a positive and significant relationship between workforce proactivity and organizational performance. The study therefore recommended that organizations in the Nigerian Banking industry should focus on increasing their workforce’s proactivity. 

 

keywords: Agility, Banking Industry, Hypothesis Revealed

 

INTRODUCTION

Background of the Study

In today’s fast changing and increasingly global business environment, hardly any company is safe from competition anymore. Nowadays, almost all companies operate in uncertain and dynamic competitive environments. There are many sources of changes, stemming from such factors as intensified global competition, reduction in lead-time and life expectancy of products, diversification of demand, and new technologies (Kettunen, 2009). Traditional long term strategic planning and the strategies that would not be altered are typically not anymore sources of competitive advantage, because in most industries there is no certainty about the evolution of the business environment and what it will be like a year from now (Doz and Kosonen, 2008; Hamel, 2007). The companies must nevertheless be able to compete in sustainable ways. In the early 1990s, the concept of agile manufacturing was devised to address those considerations (Goldman, et.al., 1995; Preiss, 2005). The key is to come over with irregular and unpredictable costumer’s demand and environmental changes, unlike in traditional mass production. Although numerous studies have identified agility as an important quality factor succeed in a competitive marketplace, most studies have focused on the concept of manufacturing agility (Preiss, 2005). Few researches have been done to study the determinants of agility and their impact on Organizational performance. Members agility is fundamentally different from manufacturing agility in that the former is knowledge based proactive while the latter is flexibility based and reactive. Thus, Members agility relies on gaining knowledge to anticipate market changes through inter firm collaboration while manufacturing agility relies on manipulating the speed (e.g. number of products) or nature of products (e.g. product mix) offered once a change is detected in the market. Agility addresses new ways of running companies to achieve success in a modern dynamically changing market (Gunasekaran, 2004). For an individual to be agile is to be capable of contributing to the bottom line of a company that is constantly reorganizing its human and technological resources in response to unpredictably changing customer opportunities (Dove, 2009). In the business context, agility is the ability of an organization to rapidly respond and adapt to market and environmental changes in productive and cost-effective ways. Thus, agility

 

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