EFFECT OF MANPOWER DEVELOPMENT ON THE INSURANCE INDUSTRY: CASE STUDY OF NIGER INSURANCE PLC
This research study is an attempt to X-ray and given an in-depth analysis of the importance and effectiveness of training programmes in Niger Insurance Plc. Training is a vital and necessary activity in all organization, it plays a large part in determination, it plays a large part in determining the effectiveness and efficiency of the organization. Therefore, every organization should continually train its employees for attainment of its goals and objectives. For the purpose of this research of the researcher made use of data collected through primary and secondary sources primary data were collected by the researcher himself directly from Niger insurance of Nigeria Plc. through oral interview and questionnaire. In addition, the data collected were analysed. In analysing the data were first presented in tables and then interpreted and analysed to demonstrate result. The finding disclose that training programmes are available and that every employees benefits from the programme in the company. Thus, in conclusion the researcher emphasizes the need for continuous training of employees.
1.1 Background to Study
Today, organizations are recognizing the importance of using best practices to enhance the skills and knowledge of the workforce to have a competitive edge over other organizations competing in the market. An essential component of every organization is “training and development” of its employees. The effectiveness of training can be measured if the knowledge and skills of the potential employees is harness and developed. Harnessing, transferring and equipping information and knowledge to the potential employees within an organization in order to interpret that information and knowledge into practice with a vision to improve the organizational effectiveness and productivity and the management of the people in referred as training in general terms.
Training programmes and development of new employees after recruitment and selection process is an on-going and many folded set of activities. Training and development is carried on in order to convey knowledge and skills to a big shot, over and over again to perform a job or a new role in the future. In Organisation Life Insurance Company Private Limited, training is considered as an effective tool to keep hold of and motivate their people and to be acquainted with technical change and customer services. Training and development programme must be strategically arranged in a line with the mission and goals of an organization. It needs to be aligned and designed with the aim of training and equipping employees to achieve the organizational goals, departmental as well as personal goals.
Training and development function is progressively more than a programme. Increasingly, it is a tool for breaking the new grounds and conveying continuous learning process and bringing about the change through training and development activities. Improved productivity has turn out to be universally recognized by the organization and it is dependent on efficient and effective training of the employees. Now a day, Insurance Companies are investing on training and development of its workforce to stay ahead and to gain competitive advantage. In order to stay competitive and to guarantee brilliant and skilled staff, organisations need to make sure the training and development of all the employees. Staff training and development is the bottom line of organization success.