Recruitment Strategies and Organizational Succession Planning in the Finance Industry in Nigeria

Abstract

The study examined recruitment strategies and organizational succession planning of selected Banks in Delta State Nigeria. The specific objectives of the study were to; examine the effect job analysis on organizational succession planning in the selected Banks in Delta State; determine the talent development on organizational succession planning; and ascertain the effect of mentoring on organizational succession planning. The study adopted descriptive research design method, which aid the researcher to collect quantitative data used to address the relationship between the dependent and independent variable. Primary data was sourced through the administration of structured questionnaire to the employees of selected banks in Delta State (respondents), while secondary data was gotten through the review of related literature. A total of three hundred and eight-four (384) copies of questionnaire was administered adopting random sampling techniques, and three hundred and forty-six (346) copies were properly filled and returned which was used for the study analysis. Data collected were analyzed using the Pearson’s correlation co-efficient and hypothesis were tested using linear regression approach. The findings revealed that there is a significant effect between dimensions of recruitment strategies adopted in the study (job analysis, talent development and mentoring) on organizational succession planning. The study concluded Recruitment Strategies significantly improve organizational succession planning in a sample of selected banks in Delta State. Job Analysis, talent development and mentorship significantly improve organizational succession planning. Hiring the "wrong" person, who then falls short of expectations, leaves the company, or needs to be dismissed, carries a substantial expense due to further training and subpar work output. The study also recommended that, to lower the risk of hiring an employee who falls short of their expectations, organizations should constantly strive to look for employees on both the internal and external markets; and Managers should constantly be aware of the need to train personnel in anticipation of future requirements.