An appraisal of recruitment strategies and their influence on human capital in banking: a case study of Union Bank of Nigeria
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Background of the Study:
Human capital is a vital asset for banks, driving innovation, customer service, and overall operational success. Union Bank of Nigeria has recognized the strategic importance of effective recruitment strategies in building a skilled workforce that can navigate the rapidly changing financial landscape. Over recent years, the bank has revamped its recruitment processes by incorporating digital recruitment platforms, competency-based assessments, and targeted outreach programs to attract top talent (Oluwaseun, 2023; Musa, 2024). These initiatives are designed to ensure that new hires not only possess the necessary technical skills but also align with the bank’s culture and strategic objectives.
Effective recruitment is critical in an industry where human capital directly influences customer satisfaction, operational efficiency, and competitive advantage. Union Bank’s efforts include regular training and development programs, performance evaluation systems, and robust onboarding procedures that aim to integrate new employees quickly and efficiently into the organization. However, despite these initiatives, challenges remain. Issues such as recruitment bias, misalignment between candidate expectations and job realities, and high turnover rates can undermine the long-term benefits of recruitment investments (Chinwe, 2023). Additionally, the bank faces stiff competition from both traditional financial institutions and emerging fintech companies, which often offer more attractive career opportunities.
The recruitment strategies employed by Union Bank are crucial for fostering a workforce capable of driving innovation and maintaining high levels of customer service. As the industry becomes increasingly competitive and technology-driven, the importance of attracting and retaining skilled professionals cannot be overstated. This study aims to appraise the effectiveness of current recruitment strategies at Union Bank of Nigeria and evaluate their impact on building a strong human capital base. Through a combination of quantitative recruitment metrics and qualitative insights from HR managers and employees, the research will identify strengths and weaknesses in existing practices, with the goal of recommending targeted improvements that can enhance talent acquisition and retention (Ibrahim, 2025).
Statement of the Problem (≈300 words):
Despite concerted efforts to modernize recruitment strategies, Union Bank of Nigeria faces challenges that affect the quality and retention of its human capital. The bank’s recruitment processes have been criticized for inefficiencies such as prolonged hiring cycles, misalignment between candidate skills and job requirements, and potential recruitment biases. These issues contribute to higher employee turnover and hinder the bank’s ability to develop a stable, skilled workforce (Oluwaseun, 2023). Moreover, the competitive job market in the financial sector means that even small shortcomings in recruitment and onboarding can result in the loss of top talent to rival institutions or fintech companies.
The lack of a robust feedback mechanism and the underutilization of advanced recruitment analytics further exacerbate the problem. While digital platforms have streamlined certain aspects of hiring, challenges remain in effectively evaluating candidate potential and ensuring cultural fit. The misalignment between recruitment outcomes and organizational needs not only affects operational efficiency but also undermines long-term strategic goals, such as innovation and customer service excellence. This gap in recruitment efficiency and effectiveness has significant implications for the bank’s human capital development and overall competitiveness (Musa, 2024).
This study seeks to investigate the effectiveness of recruitment strategies at Union Bank of Nigeria, with a focus on how these strategies influence the development and retention of human capital. By analyzing recruitment metrics and gathering insights from HR professionals and employees, the study aims to identify key areas where recruitment practices fall short and propose actionable recommendations for improvement.
Objectives of the Study:
To evaluate the effectiveness of current recruitment strategies at Union Bank of Nigeria.
To identify challenges in talent acquisition and retention within the bank.
To recommend improvements for enhancing recruitment processes and building stronger human capital.
Research Questions:
How effective are current recruitment strategies in attracting qualified talent?
What challenges impact the retention and development of human capital at Union Bank?
What recruitment process improvements can enhance talent acquisition and retention?
Research Hypotheses:
H1: Modern recruitment strategies significantly improve the quality of hires.
H2: Inefficient recruitment practices negatively affect employee retention rates.
H3: Enhanced use of digital recruitment tools leads to better alignment between candidate skills and job requirements.
Scope and Limitations of the Study:
This study focuses on recruitment practices at Union Bank of Nigeria between 2023 and 2025. Limitations include reliance on self-reported data from HR personnel and variability in recruitment outcomes across departments.
Definitions of Terms:
Recruitment Strategies: The processes and methods used to attract and hire new employees.
Human Capital: The collective skills, knowledge, and abilities of an organization’s workforce.
Talent Acquisition: The process of identifying, attracting, and hiring skilled individuals.
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