Abstract:
The purpose of this study was to determine whether companies especially banks have formal manpower planning.
For the purpose of the study, eight (8 research questions and three (3) hypothesis were formulated to guide the study. The instrument used for data collection were a 20 item questionnaire and interview schedule designed for senior management staff of the participating companies. The samples consisted of 50 management staff — 10 Executive management and 40 senior management from 10 randomly selected banks whose headquarters are located in Lagos. Simple percentages, linear regression and coefficient relations were used to analyze the data.
The results revealed that banks engage in manpower planning and have formalized recruitment polices specified in staff hand books: but they however differ in the extent to which these strategies and policies were implemented in practice. For some banks, other factors and relationship played a major role and tended to over shadow merit. The study showed that banks whose ownership base was more dispersed tended to implement their manpower planning and recruitment policies better than the banks where a few shareholders are more dominant or where the Chief Executive officer was also a major shareholder.
