Musa Zakari*
National Open University of Nigeria, Nigeria
*Corresponding Author: [email protected]
The current study examines the Human Capital Development Policy as a tool for enhancing staff performance in Nigerian National Petroleum Corporation Limited. To achieve this purpose, several hypotheses were formulated to guide the study. For this purpose, several prior studies related to the variables were reviewed. A survey research design was adopted as a method to conduct this study. Precisely, a sample size of forty respondents was randomly selected for the assessment. A questionnaire method was used for the data collection, which was further analyzed by using regression analysis. The significance level of 0.05 was used for the statistical testing of hypotheses, which revealed the effect of policy implementation and employee job satisfaction in NNPCL. The Human Capital Development Policies and programs not only motivated the staff but also reflected better performance in the organization. Furthermore, this study recommended that Nigerian National Petroleum Corporation Limited (NNPCL) should conduct a thorough analysis of the current state of Human Capital Development Policies to identify other areas that require improvement. This assessment should involve evaluating the existing and new policies and practices, identifying gaps, and measuring staff performance metrics. Additionally, it was indicated that should develop a comprehensive human capital development strategy that aligns with the company's goals. This strategy should include training and development programs, mentoring and coaching initiatives, and performance management processes.
Keywords: development strategy, human capital, organizational productivity, performance management, staff development.
Human Resource Management (HRMis a subfield of strategic management that deals with topics including hiring, training, retaining, motivating, rewarding, and replacing employees. This research examines this strategic challenge in HRM through the lens of growth and evolution (Nzelibe et al., 2011). One of the most important/significant aspects of HRM is not only the process of development, but it also effectively contributes to the crucial process of organizational transformation. Furthermore, it also has the capacity to either foster or hinder the growth of an individual or the organization as a whole. Several academicst have put forward an analysis that in order to achieve long-term goals, businesses and government departments should bring better strategies and policies to become successful in today's dynamic and competitive environment.
In order to achieve this goal, the researcher must have access to human resources (HR) that are superior to those of competing businesses in terms of creativity, adaptability, and knowledge (Armstrong, 2010). The major goal of Human Resource Management is to enhance the performance of the staff also it follows the idea that a well-conceived and implemented development program has the potential to have a positive effect on both individual and collective output. Staff performance, skill acquisition, and organizational performance (in terms of completion and change) are the goals that can be achieved through development and training activities. The primary aim of the development program is to improve an employee’s performance and organizational output by expanding knowledge, skills, and the ability to adapt to new situations and circumstances. Personal and professional growth is a powerful incentive that motivates staff members to improve their competence with the emergence of new technologies. The findings show that the organization's development policy systematic framework for developmental activities that help boost employees' opportunities to enhance their skills and productivity. . The success of a company is mainly dependent on the productivity and efficiency of its employees. Furthermore, the information, skills, and talents possessed by the workforce are critical to the company’s performance. Development and training programs in the public sector typically aim to boost the productivity of employees and the business as a whole. Nonetheless, most public organizations have not adopted new technologies, even though it is important for development and progress to improve an organization’s work effectiveness. Considering the foregoing, the purpose of this research is to determine whether or not the Nigerian National Petroleum Corporation Limited has a Human Capital Development Policy plan and what effect it has on the productivity of its employees. The aimed process raises several queries in the mind of a researcher which will be keenly analyzed to bring out the research gap.
So, the broad objective of this research is to examine the impact of Human Capital Development Policy on staff performance, while the specific objectives are;
Several hypotheses were developed to serve as the foundation for the research.
Human Capital Development Policies and Program
Corporate policies that are both solid and adaptable can help businesses articulate and build human capital development programs, which makes them successfully face the challenges posed by the ever-changing nature of the knowledge economy. HCD policies are constantly used to improve skills in order to survive in the fast-paced financial industry. Its framework and basis are found in proactive policy. Moreover, it is vital to investigate what Human Capital Policy entails.
Drawing from the news of Anugwom (2005), Human Capital Policies and Program is a written declaration that comprises the organization's aims or statements on matters that influence workers' behaviors. The goal is to create an environment where employees feel valued and supported so that they will want to work hard to achieve the company's mission.
The points listed below work as the foundation for Human Capital Policies:
1 An organization should treat its employees fairly, equally, and justly (in accordance with the principle of equality and justice).
2 The remuneration package should be competitive and not exploitative in order to keep their services for a fair amount of time.
3 Compensation Principle
4 To foster employees' dedication to the company's mission, it's important to ensure their safety and financial well-being.
5 A key tenant of democracy is that workers should be given a voice in subject matters that directly impact them at work. They need a forum in which they may voice their opinions and concerns.
6 The opportunity and principle states that workers should be offered many chances to learn, grow, and make the most of their abilities
Human Capital Policies (HCP) and programs are an essential aspect of any successful business strategy. A number of different conceptualizations of corporate policy have been advanced by academics. Despite having several definitions, it appears that they all said the same thing. According to Yoder (2019), corporate policy is the suggested course of action of an individual, group, organization, or government to overcome certain hurdles or exploit opportunities within a given environment in order to attain specific organizational goals. Policies are fundamental judgments made by management that are communicated to employees in order to regulate their actions, or they can be broad expressions of deeper understanding that serve as the foundation for the organization's decision-making processes.
The management goals make it clear that the prime purpose of management’s intention is to address specific highlighted issues, which the company is facing. For this purpose, managers can use clear strategies and frameworks to make risk-averse decisions. With an effective business policy and manager can find more effective ways/solutions to address the preceding issues faced by the company. Adhering to such policies enables a manager to use effective frameworks within which to make choices. Therefore, corporate policy refers to the norms that govern both the making of decisions and the carrying out of those decisions/ formulation and implementation of decisions. It's a set of guidelines that can help a business achieving its goals (Ogbo et al., 2012).
Decisions should be in line with and helpful to the company's goals/Corporate policies set the limit within which decisions can be taken since they must be in line with and beneficial to the firm’s goals A group's policy is its members' consensus on how to act in a given situation, which increases the predictability of the group's collective behaviour. The phrase corporate policy refers to a set of established norms and procedures designed to enable an organization to achieve its goals (Conventry & Baker, 2015). It offers a sensible structure/practical framework within which managers and workers can act in an organization (Koontz & Weihrich, 2010).
Enudu (1999), in his study, defined corporate policy as a command issued by a higher authority that offers a continuous framework for the conduct of personnel in an organization. He elaborated, further that the company's official stance on the range of employee conduct that is acceptable and even encouraged is in actual a declaration of the company’s goals, which permit and promote business. To prevent irrationality and sentimentality, it sets parameters within which managers and their subordinates must carry out their official responsibilities in order to maintain consistency and predictability in the workplace. Establishing and enforcing a set of rules and guidelines for managers and employees to follow to preserve consistency at the organizational level (Ifeanacho, 2016).
An organization’s policies are established in place by its hierarchy. There are varying tiers of policy, when combined; they govern a company as a whole. The company's policies should be consistent throughout all departments and all departments must adhere to the same set of policies. In the lower echelons of an organization, policies tend to become increasingly granular and rule-based (Ogbo & Adibe, 2016). Top management and the board are responsible for formulating policies, while lower levels of management are tasked with its carrying/implantation. However, a good policy demands research into the nature of the problem at hand, the factors contributing to it, the desired consequences of any actions taken, the scope of any relevant authorities, the availability of relevant resources, and the potential outcomes of any alternatives. Hence, it has a unifying influence on problems within organizations. Due to its holistic and totalizing approach to understanding and resolving organizational problems, it can be classified as a general management approach. Anugwom (2005) argued that this is the case when he wrote that it is up to the company's top management to look into theissues of corporate character and concern in the interest of the company's long-term growth. Statements of policy may be made verbally or in writing. Nonetheless, due to their clarity, readability, and trustworthiness, policies that are specified in writing are preferred more than others (Akpala, 1993). A policy can be created in a new area either by the organization's upper management or by an external source, such as a trade association or union, or by any of the three levels of government (federal, state, or local). A request from an employee's superior can also lead to the creation of a new policy. Additionally, policies can be inferred from managers behaviors (Shrivastava, 2009). Therefore, it is crucial to adapt changing policies to meet the demands of modern banking operations and the workplace. Effective policymaking, or policy adjustments to allow for adaptation, is the key to long-term viability and prosperity (Ifeanacho, 2016).
Human Capital Development Practices
It is important to note that the concept of human capital development (HCD) practices encompasses all human capital development-related concepts with the goal of attaining employee growth in all areas. The following ideas are part of this category.
Human Capital Development (HCD) is a tool used by different organizations to train their workers to achieve their organizational or professional objectives. The internal structure of an organization is made up of socio-technical arrangements that have been carefully/meticulously crafted/designed to accomplish the goals of the organization by taking the appropriate actions at the right time and in the right amounts. Armstrong (2010) argued that HRM has progressed through several phases. Its creation was necessitated by environmental and human factors. The term first appeared in 1915 when the factors related to the environment and humans were forced into its constructions. Personal management's original premise was to probe employees' private lives by providing welfare services. The expansion of people management activities to encompass management support functions including recruiting, selection, basic development, record keeping, and others became crucial as time went on.
According to Cole (2002), development refers to the process of learning aimed at enhancing one's skills and abilities for a specific job or set of responsibilities. The core focus of development is on meeting job requirements, such as operating machines efficiently and safely or building an effective sales force.
Jones et al. (1998), identified that the primary goal of development is to equip employees with the skills they need to succeed, while maintaining their current positions within the firm. Staff development, on the other hand, is concerned with enhancing employees' expertise and abilities, so that they are better able to cope with increased responsibilities and complex tasks. Management development refers to collective efforts made to enhance the managerial, administrative, and decision-making skills of non-routine work personnel.
The purpose of staff development is to better equip people in an organization to take on more responsibilities and tasks (Jones et al., 1998). According to Wertherland and Davis (1996), development is the process of preparing an employee for more advanced roles without compromising present obligations.
Additionally, the process through which a company shapes the people who will carry on its operations in the future is another definition of business or organizational development. These leaders will ensure that the company continues to function efficiently and effectively (Fagbohungbe, 2009). Learning that focuses on the long-term goals of an individual's career rather than on meeting short-term objectives and improving current performance is an example of development (Cole, 2003). The goal of any good training and development program is to better prepare employees for their future positions by enhancing their conceptual and human skills.
While both programs aim to boost employee proficiency, it is clearly evident that there is a significant distinction between both. In contrast to development, which focuses on providing people with the knowledge and abilities they need to complete their current jobs effectively, training places a premium on providing employees with the broader set of skills they'll need to advance in their careers and succeed in the long run.
In a nutshell, development is supposed to lead to a rise in one's level of education and a shift in one's outlook (Mullins, 1999). According to Stokes (1966), a person learns through experience which may be actual, hearing, or reading about the experiences of others," and this is foundational to growth and development. In addition to helping employees achieve their professional and personal goals, development and training include a variety of formal and informal activities that foster growth in these areas. The terms "development" and "development" are commonly used interchangeably; however, they actually mean different things. In fact, it's important enough that HR professionals who are well-versed in the differences between them may better allocate resources and devise effective policies and programs for their respective organizations.
Various studies have shown that HCD policies have a positive impact on staff performance. For instance, Nmadu et al. (2021) examined the effects of training on employee performance in an organization. Human resource training and development is a global trend in organizations due to its objectivity, strategic positioning, and direct contribution toward organizational goals, and objectives. Training and development are geared towards acquiring or sharpening the capabilities of employees to perform various obligations and functions associated with their present or future expected roles. This paper examines the effects of training on employee performance in organizations. This study used Victor Vroom’s expectancy theory of motivation to explain the relationship between training and employee performance in organizations. The study relies fundamentally on secondary sources of data consisting of textbooks, periodicals, journal publications, and other documentary sources, such as the Internet and published empirical research reports. The findings from the study revealed that an increase in training and development correspondingly increases 72.6% in employee performance. This implies that when managers or administrators embark on effective training and development, the dwindling performance of employees and poor organizational performance could be remedied. The study, therefore, recommends that managers or administrators of organizations should improve the annual budgetary allocation for human capital training and development in both public and private organizations. This will enable the organizations to provide quality and effective training programmes that will positively impact on employee performance and organizational productivity.
Ratnawati and Idris (2020) examined improving student capabilities through Research-Based Learning Innovation in E-Learning Systems. A current higher education curriculum has shifted from a training and professional development model to a capability development model, from work-oriented to a life orientation, and from a teaching paradigm to a learning paradigm. The logical consequence of this shift requires innovation not only in the form of instruments and digitization of learning but also in learning innovation in the learning process and student learning experiences. This study aims to design learning innovations using research-based learning models that are integrated through e-learning to improve student capabilities. This study used the research and development method with a 4-D model. This study found that there was an increase in the quality of learning in social studies learning courses and an increase in student capabilities through a research-based learning approach implemented through the e-learning system.
Idris et al. (2020), examined the mediating role of job satisfaction on compensation, work environment, and employee performance: evidence from Indonesia. Job satisfaction has a pivotal role in improving employee performance. It provides enthusiasm and high motivation for employees to increase productivity. On the other hand, to improve employee performance, the organization provides compensation based on established standards in an environment that is sometimes less conducive. This study proposes to examine the mediating role of job satisfaction on compensation, work environment, and employee performance at state polytechnic colleges in Indonesia. This study used Partial Least Square (PLS) as data analysis. This study found that compensation has no impact on job satisfaction or employee performance. Additionally, job satisfaction cannot mediate compensation and employee performance. However, the work environment positively and significantly affects job satisfaction and employee performance. Job satisfaction has an impact on the work environment and employee performance. It also influences employee performance positively and significantly. Thus, job satisfaction, directly or indirectly, can be a mediator for the relationship between the work environment and employee performance. According to a study by Idris et al. (2020), training and development programs help improve employees' knowledge, skills, and abilities, which in turn enhance their job performance. Similarly, a study by Mekonnen and Teshome (2021) found that training and development programs contribute to job satisfaction, employee motivation, and improved performance. Moreover, several studies have found that HCD policies have a direct impact on organizational performance. A study by Oyewunmi et al. (2018) found that HCD policies such as mentoring, coaching, and training lead to improved organizational performance. Additionally, a study by Fagbemi and Adeoye, (2019) found that the implementation of HCD policies positively affects the financial performance of an organization.
The need for this research arises from the lack of an empirically derived assessment of the success or failure of development and the effects of development at Nigerian National Petroleum Company Limited. For instance, Shahazadi and Naveed (2016) selected five companies from Pakistan's public sector to collect data for their study on the impact of innovations on organizational staff performance. A total of 201 respondents were chosen as the sample size, and questionnaires were shared with them by using a convenience sampling strategy. Regression analysis in SPSS 16.0 was used to determine the influence of growth on employee productivity. A favourable correlation between staff performance and involvement in development efforts in Pakistan's selected industries was found.” In a 2014 study, Ndibe “looked at how training and education for employees impacted the success of their company. This research attempted to determine how a company's performance improved as a result of investing in its employees through training and education, with a spotlight on the methods used to choose candidates. All of the polling for this study was done in Nigeria, specifically in Enugu State. The 694 NNPC employees who participated in the survey” The Yamane formula was utilized to establish the appropriate sample size. There were 254 people chosen at random. The study included both primary and secondary data sources, including a questionnaire distributed to 254 employees of the selected Organization and access to the Organization's personnel files and annual reports. Data was analyzed using Statistical Software for the Social Sciences (SPSS), and hypotheses were tested using the person product moment correlation coefficient and the one-sample test. The results show that there is a strong positive association between employees' perceptions of their own development and the success of their employers' businesses.
Falola et al. (2014) conducted research on the effects of training and education on employees' productivity and their companies' ability to compete in the power industry. It's worth noting that the aforementioned study was conducted in the private sector, thus it might not generalize to the public sphere. For this reason, the results may not be representative of the intended purpose of the study.
Using a random sample strategy, Kun et al. (2014) took a quantitative approach to researching the effect of staff development on the performance of government agency employees in South Africa. The results showed that staff's growth and development are hindered by poor working conditions and inadequate funding. Certain areas were suggested for enhancement, including management's involvement, employees' access to feedback, and the regularity with which employees' skills are honed.
The foundation of Human Capital Theory (HCT) is neo-classical economics, which is also the basis for its examination of education and employment. It takes into account that people are valuable assets, and it investigates if those with higher levels of education are more effective workers (Brennan, 1988). Human Capital Theory is an economic examination of the value of an education or the return on investment. From this vantage point, development is viewed as an investment in human capital, which can be justified if returns are realized in the form of enhanced proficiency and productivity (Tharenou et al., 2007). Human Capital Theory does this by separating out broad and narrow approaches to growth. The former, at its broadest, produces professional certificates and competencies that may be used by a wide variety of businesses across a wide range of industries (Garcia, 2005). It is important to note that there are a number of implications for organizational behaviour resulting from the transferable character of the credentials supplied by more broad development. On the one hand, this growth improves the Staff's position in the labor market because the obtained qualifications are potentially beneficial to a lot of firms. Due to the increased value, the company providing the development will need to compete with other companies by increasing pay and benefits for their trained staff (Garcia, 2005).
Yet, the availability of jobs that necessitate expensive qualifications and knowledge from their occupants, which can be transferred between businesses, encourages free rider behavior aimed at lessening the organization's contribution to financing development. There are other ways to accomplish this, and they aren't necessarily incompatible with one another.
The company provides general development upfront, but the cost is passed on to the employee in the form of lower wages during the training and adjustment phase. Second, the company creates development policies that put an emphasis on hiring from the outside rather than promoting from within, making it so that candidates must demonstrate specific, transferable, and often expensive professional competencies in order to be considered for the position, and make employee training and advancement within the company the sole responsibility of the employee themselves (Garcia, 2005).
According to Human Capital Theory, specialized growth is manifested in the delivery of skills that are difficult to transport from one institution to another. The ramifications for organizational behaviour stem from this intransferability. However, "as workers do not receive any significant pay rises related to their higher productivity after specific development period, there will be no incentives for them to finance their own specific development, meaning that rival organizations will have no reason to make pay offers to Staffs if they undergo more specialized training. In fact, the company will have good cause to take on these costs of development, since it will reap almost all of the gains from the increased productivity brought about by the acquisition of these specialized professional abilities (Garcia, 2005).
The theory examines the demand for development (amongst Staff) and the supply of the development by relying on a rational investment in development that is grounded in Neo-classical economics thought (by the employer). Disputes are easy to spot in this example. Staff may be interested in long-term development that can help them in general and may therefore consider resourcing development for long-term development, while employers may be interested in giving short-term development to enable Staff to execute specific jobs. As a result of their divergent goals, the Staff and the employers must negotiate in order to reach a mutually beneficial agreement. If the goals of the Staff and the employer are at odds, it could lead to a dysfunctional conclusion. This is difficult to resolve since both the employer and the employee may have vested interests that prevent them from working together, such as the employee's desire for professional advancement or change and the employer's desire to keep the employee in the company for the foreseeable future. Last but not least, if the company foots the bill, the employer may wind up with a first-person perspective on the given development. Inconsistent with organizational goals are "the development content, the match between development content and organizational level outcome, the development techniques, design, and learning principles, the staffs educated, and the consequences for the transfer of development (Tharenou et al., 2007).
Some have hypothesized that a lack of a conducive post-development environment for the use of new skills is to blame for dysfunctional development.
This notion can be applied in the public sector, where training and education, both individualized and broad, are provided by employers to better equip their employees to achieve the organization's goals. This theory helped uncover whether or not employees were included in post-development decision-making, whether or not they felt the development had an immediate impact on their jobs, and whether or not there were any situations in which employees did not apply what they had learned from the development. The Human Capital Hypothesis is important because, while irrational choices are still possible, rational spending on education can increase output. Staff-led innovation is another potential outcome of human capital accumulation, according to the idea.
This study employed a quantitative research approach. A survey research method was used to collect data from the selected participants. This method is suitable because it allows for the collection of large amounts of data in a short time. The population for this study consists of the entire workforce of the Nigerian National Petroleum Corporation Limited (NNPCL). A stratified random sampling technique will be used to select a representative sample of the workforce. Data for this study were collected through the use of a structured questionnaire. The questionnaires were closed-ended. Closed-ended questions were used to collect quantitative data. This study used both primary and secondary sources for the data collection. The research population consisted of the Nigerian National Petroleum Company Limited (NNPCL). Twenty-five hundred and twelve employees from the NNPCL make up the sample population.
The collected data were analyzed using statistical software such as SPSS. The quantitative data were analyzed by utilizing descriptive statistics including mean, standard deviation, frequency, and percentage. To ascertain the inferential statistics were used to draw the connection between correlation and regression analysis and to determine the relationship between HCD policy and staff performance. This study contributed to understanding the importance of HCD policy in enhancing staff performance at the Nigerian National Petroleum Corporation Limited (NNPCL).
Taro Yamani statistical formula was used to determine the sample size that is stated below:
n= N
1+ N (e) 2
Where n=sample size
N=total population size
1 is constant
e = the assume error margin or tolerable error which is taken as 5% (0.05)
N/ n= 1 + N (e)2
n= 1 + N (e) 2
= 2521/ 1 + 2512 (0.5)2
= 2512/ 1 + 2512(0.0025)
= 2512/ 1 + 2512(0.0025)
= 2512/ 1 + 4.025
= 2512/ 6.28
n= 400
Multiple Regression Model Specification is stated below:
Ŷ = β0 + β1 X1 (staff motivation) + β2 X2 (employee job satisfaction) + β3 X3 (staff turnover) + e
Ŷ = dependent variable.
β0 = Constant
β1, β2, β3 = are the slope on y-axis
X1, X1, X = are the independent variable
e = Error term
Table 1
Variables Defined
|
Model |
Variables Entered |
|
1 |
staff motivation, employee job satisfaction, staff turnover |
Independent Variables: staff motivation, employee job satisfaction, and staff turnover.
Human capital development policy has a significant impact on the overall staff’s performance.
Null Hypothesis (H0): There is no significant effect of HCD policy on staff performance in NNPCL. Alternative Hypothesis (Ha): There is a significant effect of HCD policy on staff performance at NNPCL
Null Hypothesis (H0): HCD policy does not have a significant impact on staff motivation at NNPCL. Alternative Hypothesis (Ha): HCD’s policy has a significant impact on staff motivation at NNPCL.
Null Hypothesis (H0): The level of HCD policy implementation does not have a significant impact on employee job satisfaction at NNPCL. Alternative Hypothesis (Ha): The level of HCD policy implementation has a significant impact on staff job satisfaction at NNPCL.
Null Hypothesis (H0): There is no significant relationship between HCD policy and staff turnover in NNPCL. Alternative Hypothesis (Ha): There is a significant relationship between HCD policy and staff turnover at NNPCL”
Dependent Variable: Staff’s performance,
All requested variables entered.
Table 2
Summary of the Model
|
Model |
R |
R Square |
Adjusted R Square |
Std. Error |
Durbin-Watson |
|
1 |
.883a |
.832 |
.892 |
.08361 |
1.410 |
Note. Predictors: (Constant) staff motivation, staff job satisfaction, and staff turnover, Dependent Variable: Staff’ performance
Table 3
ANOVAa (Goodness of Fitness)
|
Model |
Sum of Squares |
df |
Mean Square |
F |
Sig. |
|
|
1 |
Regression |
143.854 |
4 |
46.235 |
3213.774 |
.000b |
|
Residual |
1.5385 |
375 |
.008 |
|
|
|
|
Total |
1521.164 |
379 |
|
|
|
|
Note. aDependent Variable: Staff’s performance, bPredictors: (constant), development programme, staff development, and staff development.
The result of the statistical table above shows that the value for f-factor regression models stood at 2988.962. The value is greater than the level of significance, which stood at 0.000. This means that the model is fit for the variable under consideration. The goodness of fitness in the use of this (regression) model has a 95% level of confidence interval. Although, there is a 1.81 model error, this error is not significant enough to affect the use of this model in the study,
Table 4
Regression Coefficientsa
|
Variables |
Unstandardized Coefficients |
Std. Error |
Standardized Coefficients |
t |
Sig |
|
(Constant) |
0.8321 |
.028 |
|
.000 |
.000 |
|
Staff motivation |
0.732 |
.072 |
.000 |
.000 |
.000 |
|
Staff job satisfaction |
.071 |
.091 |
.082 |
4.183 |
.000 |
|
Staff turnover |
.883 |
.023 |
.212 |
17.260 |
.000 |
Note. Dependent Variable: Staff Performance in NNPCL
The result of the table above shows the relationship between independent variables and independent variables.
From the result, it was concluded that this study rejects the first null hypothesis, which stated that Null Hypothesis (H0): Human capital development (HCD) policy does not have a significant impact on staff motivation in NNPCL. Therefore, the alternative hypothesis was accepted because the calculated beta, which is the normal value of r2 stood at 7.1 that is greater than the level of significance, which stood at 1.00. There is a significant relationship between HCD policy and staff motivation in NNPCL. This further means that HCD policies and programs were used to motivate staff in Nigerian National Petroleum Corporation Limited (NNPCL). This implies that if the management of Nigerian National Petroleum Corporation Limited (NNPCL), decided to invest in Human capital development policies and programs it will improve performance by least 73% in the organization.
From the result of the study it was deduced that this study rejected the second null hypothesis, which stated that the level of HCD policy implementation does not have a significant impact on employee job satisfaction in NNPCL. As a result, the alternative hypothesis was partially accepted because the calculated beta, which is the normal value of r2, stood at 09 that are greater than the level of significance, which stood at 0.00. Therefore, there is a significant HCD policy implementation and employee job satisfaction in NNPCL. This further means that when the management of Nigerian National Petroleum Corporation Limited invests in human capital development, there will be a significant improvement in employee job satisfaction in NNPCL by at least 71% in the organization.
From the result of the analysis, the third null hypothesis was accepted, which states that the Null Hypothesis (H0): There is no significant relationship between human capital development policy and staff turnover at NNPCL. Therefore, the alternative hypothesis was rejected because the calculated beta, which is the normal value of r2, stood at 0.09 and was greater than the level of significance, which stood at 0.00. Therefore, there is no significant relationship between human capital development policy and staff turnover at NNPCL.
Human capital development (HCD) refers to the policies that are the actions and tactics implemented by businesses to improve their employees' levels of expertise. Therefore, several trainings, educational, and other types of professional development activities are commonly employed to enhance the employees’ skill set, such as policies aimed at ameliorating the quality of the labour force. Several researchers have found that the Nigerian National Petroleum Company Limited (NNPCL), can benefit from HCD initiatives that boost employees’ overall productivity. Employees get more invested/involved and motivated in their work to succeed when they are given chances to learn and advance in their careers when they are provided with right opportunities. This resultantly, may have a positive effect on the job satisfaction, output, and efficiency of employees’ work performance. Furthermore, by providing staff development opportunities and professional training, a firm can reduce its turnover and the costs associated with it.
Thus, NNPCL's organizational performance can be enhanced through the effective implementation of HCD initiatives. Employees who have access to cutting-edge training and development opportunities are able to adapt to the ever-evolving needs of the industry and recent market trends. Increased productivity, top-notch quality, and attentive care for customers are all possible outcomes that provide measured positive outcomes. Human capital development (HCD) initiatives appear to have the potential to improve NNPCL employee productivity. Organizational performance, staff retention, and employee happiness can all benefit from training and education initiatives.
Below are some approaches that could be taken by NNPCL (Nigerian National Petroleum Corporation Limited) to boost performance through human capital development policies.
As a result, the research suggests the following recommendations:
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