THE EFFECT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONS PERFORMANCE IN ACCESS BANK

The contemporary corporate landscape is characterised by a high level of competitiveness, wherein the ability to survive and maintain long-term viability has become increasingly elusive for numerous organisations. The genesis of this competition can be attributed to the exponential expansion of technology and the overwhelming abundance of information accessible to contemporary corporate organisations. According to Makinde (2014), the implementation of this has resulted in an enhancement in the calibre of products and services provided by contemporary commercial organisations. Due to intense rivalry, firms have been compelled to cultivate specific areas of core competences that can serve as sources of competitive advantage. Therefore, it is crucial to recognise that people inside business organisations are highly important assets and can serve as sources of competitive advantage. Consequently, effectively managing and handling employees is essential for the success and long-term viability of any company organisation (Versailles, 2015). In Nigeria, there is a significant competition for talented individuals, particularly within the banking industry. Consequently, organisations must effectively manage their people resources to align with their specific requirements. According to Iraniwo (2016), human resource planning has emerged as a crucial management technique for enhancing organisational performance.

Human Resource Planning (HRP) can be defined as a proactive endeavour aimed at forecasting the future needs of an organisation and ensuring the availability of suitable individuals to meet the demands of its customers. Additionally, Bulla and Scott (2004) defined it as the systematic approach employed to identify the human resource needs of an organisation and develop appropriate plans and procedures to meet those demands.

On a global scale, the primary difficulty of human resource planning (HRP) is in the process of converting an organization's strategic aims and goals into a structured timeline of workforce needs (Dimba, 2013). In contemporary business environments, the success of a company hinges upon its ability to strategically recruit and retain suitable personnel who align with the organization's vision and objectives (Plesil, 2009). Frequently, managers frequently encounter the issue of making incorrect recruiting decisions, resulting in subpar employee performance and subsequently, diminished organisational performance. Consequently, Human Resource Planning (HRP) becomes imperative (Mason, 2016). In addition, the contemporary phenomenon of trade globalisation and the emergence of new and developing economies globally have engendered a global competition for skilled individuals and workforce (Lamiro, 2014). Complaints have arisen from the Silicon Valley region in the United States of America, as an illustrative example.

The issue of talent scarcity in the technology sector has been similarly acknowledged within the engineering business (Jackson & Schuler, 2011). The aforementioned issue may arise as a result of human resource planners' inability to accurately anticipate the future demands of the sector and develop appropriate methods to address them.

Moreover, it is noteworthy that in Nigeria, the implementation of corporate governance legislation for Nigerian public businesses, mandating a specific proportion of female representation on their boards, has resulted in a significant surge in the demand for female professionals inside numerous prominent corporations in Nigeria (Akpata, 2017). This has resulted in the need for numerous firms to predict the availability of female talent and develop strategic plans to attract the most exceptional female talent (Keshinro, 2013). Moreover, Nigerian human resource managers encounter the obstacle of effectively replacing retiring personnel with individuals possessing comparable skill sets and expertise, so as to prevent the emergence of significant gaps within the organisation. The utilisation of Human Resource Planning (HRP) has been employed as a strategy to address this particular issue within various organisational contexts (Onugu, 2014). Human Resource Planning (HRP) is employed as a strategic approach to address the need for replacing personnel who are either ageing or departing, and possess unique skill sets that are valuable to the organisation. The organisations are unlikely to desire to vacate the position and consequently deprive the organisation. Consequently, Human Resource Planning (HRP) is employed to guarantee that the respective job is staffed in a manner that minimises any potential disruptions to the organisational efficiency.

Moreover, within the Nigerian banking sector, there exists a significant demand for Human Resource Planning (HRP) skills, mostly driven by the prevalent issue of high staff turnover (Worlu, 2016). Consequently, Human Resource Planning (HRP) is employed as a means to anticipate and address the vacancy resulting from staff attrition, by devising appropriate methods for their successful replacement. Human resource planning (HRP) plays a significant role in the training and development of employees within the banking industry (Worlu, 2016). The utilisation of Human Resource Planning (HRP) in the banking industry is essential for ensuring that newly hired personnel align with the cultural values upheld by the bank and contribute towards the achievement of the organization's vision, purpose, goals, and objectives. Moreover, it is evident that human resource managers within the Nigerian banking sector are confronted with a dearth of competent and proficient leaders. This scarcity arises from the fact that a substantial number of leaders who have contributed significantly to the industry's accomplishments are either advancing in age or nearing retirement (Adeyinka, 2014). The significance of effective leadership was evident in financial institutions such as Guarantee Trust Bank, where the untimely demise of their former CEO, Tayo Aderinokun, resulted in a substantial vacancy. Numerous business analysts have observed that the current CEO, Segun Abgaje, has not adequately addressed this void (Osinowo, 2017). According to the study conducted by Usman (2017), this phenomenon has resulted in

The purpose of this analysis is to evaluate the downward trajectory of Guarantee Trust Bank's business performance. Previous research papers have proposed the utilisation of Human Resource Planning (HRP) as a potential remedy for the aforementioned challenges (Worlu, 2016; Ejifor & Mbachu, 2011). Nevertheless, while the significance of Human Resource Planning (HRP), there remain certain reservations regarding its efficacy in enhancing organisational performance. Hence, the primary objective of this study is to examine the impact of Human Resource Practises (HRP) on the overall performance of organisations.