The Chartered Institute of Bankers of Nigeria (CIBN) has called on banks’ management to stop setting unreasonable targets for their staff.
The Institute made the call in Abuja on Wednesday while presenting a research report, titled: “The Analysis of Human Capital Attrition in an Evolving Global Context: A Case Study of the Nigerian Banking Industry.”
The research was presented at the CIBN 15th Annual Banking and Finance Conference, themed: “Repositioning the Financial Services Industry for an Evolving Global Context.”
The Coordinator of the research, Dr Grace Makinde, 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 the Babcock University, said the workload, job recognition and work environment be given due attention by managers in the industry.
She suggested that regular review of policies and benchmark work patterns to meet international best practices be adopted in the banking sector.
According to her, the banking industry “is 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 workplace then, many workers will prefer to stay. They will stay when the environment is conducive and culture acceptable,” she said.
The President/Chairman of CIBN, Dr Ken Opara, said the recommendations from the research and the event will 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.
If we can work on these push factors, things that are pushing people out of the workplace then, many workers will prefer to stay. They will stay when the environment is conducive and culture acceptable.
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 News Agency of Nigeria (NAN) reports that the conference attracted various stakeholders from the financial services industry across the country.
