Effect of Mobile Workforce Management Strategies on the Performance of Deposit Money Banks in South- East, Nigeria

Abstract

Members of the mobile workforce and deposit money banks that employ them face a double-edged sword. On the one hand, it is desirable for mobile workers to remain as productive as possible when they are on the road. Unfortunately, life is not perfect and neither are people, so how do deposit money banks gauge whether a mobile employee is an asset or liability? On the other hand, not all venues that accommodate these workers are entirely conducive to productivity. The main objective of the study is to investigate the effect of mobile workforce management strategies on performance of deposit money banks in South East, Nigeria. The specific objectives sought were to: determine the effects of mobile technology on productivity of deposit money banks in South- East, Nigeria, establish the extent of the effect of biometric time and attendance system on deposit money banks market share in South- East, Nigeria, assess the effects of mobile applications on stakeholders’level of satisfaction of deposit money banks in South- East, Nigeria, ascertain the effect of contemporary environmental factors on the growth of deposit money banks in South- East, Nigeria and determine the relationship between the challenges of mobile workforce management strategies and the profitability of deposit money banks. The researcher adopted the survey design for the study. The population of the study is Six thousand four hundred and ten (6,410) comprised of both the senior and junior staff of the selected eleven deposit money banks in South East Nigeria. Primary and secondary sources of data were used in the course of the study. Works of other authors related to the study were reviewed. The sample size is five hundred and eleven (511) determined, using the finite population formula of Godden. The researcher adopted both parametric and non parametric techniques for data analysis. The Cronbach’s Alpha coefficient yielded 0.87, indicating the reliability of the instrument. The data collected was analyzed using Spearman Pearson correlation coefficient, simple and multiple regression model. The findings indicated that: Mobile technology had positive effect on productivity of deposit money banks in South- East Nigeria (r = 0.932 p > 0.05). Biometric time and attendance system to a great extent enhanced deposit money banks’ market share in South East Nigeria (r = 0.960, p > 0.05) Mobile workforce management strategies positively affected deposit money banks stakeholders’ level of satisfaction (r =0.950, p > 0. 05). Contemporary environmental factors such as government regulation, economic conditions, technological advancement and workforce demographics to a great extent had a positive effect on the growth of deposit money banks. (r =0. 962, p > 0.05).There was a positive significant relationship between challenges of mobile workforce management strategies (hackers’ infiltration, network failure and human error and the profitability of deposit money banks (r = 0.981, p > 0.05). The study concluded among others that mobile workforce management strategies offer deposit money banks critical improvements in growth and stakeholders’ level of satisfaction. The study recommended among others that management of deposit money banks should ensure that right tools and resources are made available to mobile workers, giving them the same connectivity as office based workers.