The role of human resource planning in business sustainability: A case study of First Bank in Kano State
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Background of the Study
Human resource planning (HRP) is a strategic process aimed at forecasting an organization’s human capital needs and ensuring that the right talent is available to achieve its goals. It involves workforce analysis, talent acquisition, succession planning, and the alignment of human resources with organizational strategies (Okafor & Adekunle, 2023). HRP is particularly critical in the banking sector, where rapid technological advancements and regulatory changes demand a highly skilled and adaptable workforce.
First Bank of Nigeria, one of the country’s largest financial institutions, operates in a competitive and dynamic environment that underscores the importance of HRP for its sustainability. In Kano State, where the bank serves a diverse clientele, the challenge of maintaining a skilled workforce amidst socio-economic pressures is significant. HRP ensures the bank can meet customer demands, adapt to market trends, and maintain its competitive edge (Ahmed & Sani, 2024).
Business sustainability requires organizations to anticipate future workforce challenges, such as skills shortages, employee turnover, and technological disruptions. By aligning HR strategies with long-term goals, First Bank can achieve operational efficiency, employee satisfaction, and financial growth. However, challenges such as inadequate workforce data, poor succession planning, and limited training opportunities can hinder the effectiveness of HRP. This study will explore how HRP contributes to business sustainability at First Bank in Kano State and identify areas for improvement.
Statement of the Problem
Despite the recognized importance of HRP, First Bank in Kano State faces challenges in implementing effective strategies to sustain its business operations. The dynamic nature of the banking industry requires continuous adaptation to emerging trends, yet inadequate planning often leads to skills mismatches, employee disengagement, and operational inefficiencies (Ogunyemi & Ibrahim, 2024).
The lack of comprehensive HRP processes impacts the bank’s ability to address workforce gaps, anticipate future needs, and retain top talent. Additionally, external factors such as economic instability, regulatory changes, and competition further complicate the bank's HRP efforts. These challenges threaten the long-term sustainability of First Bank's operations in Kano State, necessitating an in-depth analysis of HRP practices and their effectiveness.
Objectives of the Study
- To examine the role of HRP in ensuring business sustainability at First Bank in Kano State.
- To identify the challenges affecting HRP implementation at First Bank.
- To recommend strategies for improving HRP to enhance business sustainability.
Research Questions
- How does HRP contribute to business sustainability at First Bank in Kano State?
- What challenges affect the implementation of HRP at First Bank?
- What strategies can improve HRP practices at First Bank for long-term sustainability?
Research Hypotheses
- HRP significantly contributes to business sustainability at First Bank in Kano State.
- Challenges in HRP implementation negatively impact business sustainability.
- Improved HRP practices enhance operational efficiency and long-term sustainability.
Scope and Limitations of the Study
This study focuses on HRP practices at First Bank in Kano State, analyzing their impact on business sustainability. The research is limited to data collected from the Kano State branch and may not reflect HRP practices across other branches. Additionally, external factors such as regulatory changes and economic conditions may influence findings but are not the primary focus of this study.
Definitions of Terms
- Human Resource Planning (HRP): The process of forecasting and managing an organization’s workforce needs.
- Business Sustainability: The ability of a business to operate efficiently and adapt to changing conditions over the long term.
- Succession Planning: A strategy for identifying and developing future leaders within an organization.
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