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 the process of forecasting and managing an organization's workforce needs to achieve its strategic goals. Effective HRP ensures that organizations have the right talent at the right time, contributing to business sustainability in competitive markets (Boxall & Purcell, 2023). Globally, organizations that prioritize HRP report higher employee retention, operational efficiency, and long-term growth.
In Nigeria, the financial sector faces challenges such as high turnover rates, skill gaps, and rapidly changing market demands. First Bank, one of the country’s largest and oldest financial institutions, operates in Kano State, a commercial hub in northern Nigeria. For First Bank, HRP is essential to address these challenges and sustain its operations in the dynamic financial sector (Akinola & Musa, 2024).
This study explores the role of HRP in achieving business sustainability, focusing on First Bank’s operations in Kano State.
Statement of the Problem
Many organizations in Nigeria, including First Bank, face challenges in implementing effective HRP strategies. Issues such as inadequate workforce forecasting, misalignment between HR and business strategies, and limited training programs hinder the bank’s ability to maintain a sustainable workforce (Okonkwo, 2024).
In Kano State, where economic activities are highly competitive, the lack of robust HRP practices poses significant risks to First Bank’s business sustainability. This study investigates the role of HRP in addressing these challenges and ensuring long-term success.
Objectives of the Study
- To evaluate the effectiveness of HRP in achieving business sustainability at First Bank in Kano State.
- To identify challenges affecting the implementation of HRP strategies at First Bank.
- To propose solutions for enhancing HRP practices to ensure business sustainability.
Research Questions
- How effective is HRP in achieving business sustainability at First Bank in Kano State?
- What challenges affect the implementation of HRP strategies at First Bank?
- What solutions can enhance HRP practices for business sustainability?
Research Hypotheses
- HRP does not significantly influence business sustainability at First Bank in Kano State.
- Training and development programs have a significant impact on HRP effectiveness.
- Workforce forecasting does not significantly contribute to business sustainability.
Scope and Limitations of the Study
The study focuses on HRP practices at First Bank in Kano State, with an emphasis on their impact on business sustainability. Limitations include access to workforce data, employee cooperation, and regional variations in HRP implementation.
Definitions of Terms
- Human Resource Planning (HRP): A strategic approach to ensuring an organization has the right talent to meet its goals.
- Business Sustainability: The ability of an organization to maintain its operations and performance over the long term.
- Workforce Forecasting: The process of predicting future staffing needs based on business objectives.
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