The Chartered Institute of Bankers of Nigeria (CIBN) has called on banks’ managements to desist from setting unreasonable targets for their staff members.
The institute gave the advice in Abuja on Wednesday during the presentation of a research report with the title, ‘The Analysis of Human Capital Attrition in an Evolving Glocal Context: A Case Study of the Nigerian Banking Industry”, at the 15th Annual Banking and Finance Conference of the institute.
The theme of the conference was ‘Repositioning the Financial Services Industry for an Evolving Glocal Context.’
The Coordinator of the research, Dr Grace Makinde noted that undue targets given to bank staff by their managers contributed to human capital attrition in the banking industry.
Makinde, a Senior Lecturer at Babcock University, said that employees’ attrition impacts negatively on the economic performance of any organisation or industry.
She said that work load, job recognition and work environment should be given due attention by managers in the industry.
The university Don suggested that regular review of policies and benchmark work pattern to meet international best practices be adopted in the banking sector.
She further stated: “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 work place then, many workers will prefer to stay.
“They will stay when the environment is conducive and culture acceptable.”
Also speaking at the conference, Dr Ken Opara, the President/Chairman of CIBN, assured that the recommendations from the research and the event would 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.
He noted that technology had transformed financial services with the latest fintech solutions and modern trends.
Opara added: “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.”