Abstract
The position of banking sector in any nation’s economy cannot be overemphasized this is because it drives other sectors. Managing employee performance in the face of dynamic changing organizational environment remains critical issue in today’s banking sector where the strength of the sector lies in the contribution and commitment of employees. Previous studies on organizational change as it affect employees’ performance remained inconclusive. Therefore, this study examined the effect of organizational change on employees’ performance in Deposit Money Banks in Lagos State, Nigeria.The study employed a survey research design and a multi-stage sampling technique to select a sample of 623 employees from a total population of 24182 employees in 22 Deposit Money Banks in Lagos, Nigeria. Consequently a structured questionnaire was administered on the respondents while 520 were duly completed and returned representing 83.5% response rate. Both descriptive and inferential statistics were used to analyzed collected data. Ordered Logistic Regression was used to determine the effects of Organisational change on employee’s performance in Deposit Money Banks in the studied area at 95% confidence level.The study showed average and standard deviation values for organizational change (-0.0034, 1.880 and employee’s job performance (2.498, 1.317), indicating the rate at which these variables deviated from their individual mean values. The results further revealed that organizational change (β= –0.628,z c = –9.33, p=0.067 had negative effect on employee performance.The study concluded that organizational change significantly affects employee’s performance in Deposit Money Banks in Lagos State, Nigeria. It was recommended that the stakeholders in the Nigerian banking industry should communicate changes in advance and also involve employees in the execution of those changes. Organisations should ensure that employees are treated in a just and procedurally manner so as to guarantee employee that the psychological contract between employer and employee remains intact Keywords: Organisational, Change, Banks, Employee, Performance, Deposit, Money DOI: 10.7176/RHSS/11-20-08 Publication date: October 31 st 2021
Highlights
Today’s banking in Nigeria has witnessed considerable/significant development owing to its increased performance in the nation’s financial sector
The results showed that the parameters of organisational change are statistically significant in the estimated models of employee performance indicators
It suggests that employee performance in terms of task efficiency, work quantity, work quality, professional knowledge and creativity and overall task performance are likely to fall as workers are caught unaware of organisational changes
Summary
Today’s banking in Nigeria has witnessed considerable/significant development owing to its increased performance in the nation’s financial sector. The nature of banking industry is different from what obtains in other sector especially manufacturing industries. The personnel is more integrated in the area of services. Quality employees will continue to determine and predict the success of the organisation in future. Employees who have good sense of responsibility, skill, knowledge and dexterity will accomplish the tasks to fulfill and achieve the organisation‘s goals and objectives in effective and efficient ways. Various factors like skills, training, motivation, dedication, welfare, management policies, fringe benefits, salary and packages, promotion, communication etc. The significance of employees’ performance must be understood by the management and sincere efforts must be put in that direction
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