HR - Corporate Governance Nexus: Implications for the Development of Nigeria’s Banking Sector Services

Abstract

This paper examines the Nigerian experience of how the Human Resource (HR) experts contribute to corporate governance in the banking sector. Human resource experts have a key role to play in driving banks to achieve corporate governance objectives. The paper posits that HR involvement is a critical success factor for corporate governance and banks' performance. Human resource experts have the tools and the opportunity to leverage employee and other stakeholder's commitment to, and engagement in, the banks' corporate governance strategy. The ground for qualitative research in this paper is premised on the need to provide critical analysis between the corporate governance and HR within the context of the development of the Nigerian Banking services sector. Exploring qualitative research methodology provides lucid analysis of diverse thoughts which shape corporate governance-HR nexus as against quantitative research methodology where high level quantification would have been explored. The paper discovers that HR experts' roles in corporate governance have not been taken seriously by financial corporate organisations in general and banks particularly. The paper advocates that HR should add value to the firm by putting in place appropriate systems and mechanisms to ensure best practices in corporate governance are strictly adhered to. The contribution of this paper to knowledge lies in the fact that it augments the literature on the relationship between HR practices and corporate governance as it varies across national productive systems. This contribution enhances our knowledge about different strategies HR experts explore in managing corporate behaviour within the Nigerian banking sector for sustainable economic growth in Nigeria.