Training Methods and Practices in Oceanic Bank International PLC Essay Example

need skills in team building, decision making, communication, as well as technological and computer skills (Oludairo, 2006). According to Fajana (2002), training is the process of developing skills and learning concepts, rules, or attitudes to enhance effectiveness in a specific job. Casco (2003) defines training as a planned program designed to improve performance at the individual, group, and/or organizational level. Contributing his own perspective, Ubeku (1975) defines management training as the process of developing managers' knowledge, skills, and attitude through management, presentation, practice, and planned experience to meet present and future business needs.

The preparation and development of directors and professional employees is equivalent to direction development or direction preparation. "Development" refers to the process of learning directors and professional employees the cognition and skills necessary for current and future project success. Based on these definitions, it can be concluded that training and development involve the systematic and ongoing development of skills, learning concepts, attitudes, and knowledge needed by employees to effectively and efficiently perform their work.

Oceanic Bank International PLC

Oceanic Bank International Plc is considered as one of the banks that introduced a new revolution in the banking sector in Africa.

Oceanic Bank has experienced consistent growth since its establishment on March 26, 1990 and commencement of operations on June 12, 1990. On June 25, 2004, the bank's shares were listed on the Nigerian Stock Exchange as it transformed into a public liability company. As stated on its website, Oceanic Bank is well-known for delivering excellent banking services and advanced technologies in Africa. The bank operates in various sectors such as asset management, commercial banking, healthcare management, insurance, investment banking, pensions, registrar services, savings and loans as

well as trustee services.

With a network of over 370 business offices spanning Nigeria,Cameroon,the Gambia,and Sao Tome and Principe,Oceanic Bank is widely recognized as a leading financial service brand in West Africa. This essay focuses on Oceanic Bank due to the writer's firsthand experience working there for many years and extensive training received.Currently, the writer is on the bank's survey leave and has the opportunity to examine and evaluate the bank's preparation methods and patterns. The writer specifically assesses the preparation methods and patterns as requested in the inquiry at hand.

A brief review of literature reveals contributions from various scholars and researchers, particularly in the banking sector. Richards (1997) emphasizes that management trainee programs should focus on individual directors rather than their positions in the company. Richards also discusses the importance of requirements analysis, counterpart, core competences, job profiling, and identifying competence gaps in relation to core competences for individuals or job profiles for generic roles. Another significant work on training in the banking industry is by Niki Glaveli and Stella Kufidu (2005).

The writers conducted a joint analysis of the changes that occurred in the Greek banking industry over a three-year period. They also explored the impact of these changes on employee roles, training, and development for strategic implementation and success. The study used four case studies to investigate how environmental changes affected specific banks and their training and development strategies in adapting to the changing industry environment (Glaveli, Kufidu, 2005). In a related study, Rainaye (2004) empirically examined the training policy in two commercial banks: the State Bank of India and Jammu & Kashmir Bank Limited. The goal was to assess various training approaches, including

management's attitude towards training, training inputs, quality of training programs, and transfer of training to job performance. The study determined that the overall training scenario was satisfactory.

The survey also assesses the sentiments of employees in two divisions of both banks, emphasizing that it can only be fully effective if training needs are evaluated and the delivery of training to the job is well improved. It also brings about improvements in other dimensions (Rainaye 2004). Badhu and Saxena (1999) demonstrated in their work "Role of Training in Developing Human Resources" that an organization should have a defined training policy along with a training manual, and training should be an ongoing process. They also proved that executive development programs have proven to be useful in improving the productivity, efficiency, and effectiveness of managers. In their research, Karthikeyan, Karthi ; Graf evaluated the effectiveness of training in six banks and how training contributes to the growth of these banks. The study focused on three public sector banks and three private sector banks, aiming to analyze the effectiveness of training in selected banks in Tiruchirappalli District, South India, and also identify the correlation between training effectiveness and bank growth.

Evaluating Training Needs

Organizations spend more than $200 billion annually on employee training and development (Wexley and Latham, 1991).

They rely on this preparation to help develop critical employee skills needed for success in today's fast-changing, competitive environment (Guthrie and Schwoerer, 1994). However, these development programs are uncertain investments unless they are based on a sound training needs assessment (TNA) (Goldstein, 1993). According to Burton and Thakur (2003), a good training program should identify: (I) the specific skill areas to be strengthened through

the training; and (II) the available resources to support the training. They argue that an effective training process must begin with a thorough needs analysis to clearly identify the desired learning outcomes and end with an objective training program evaluation.

A thorough assessment of training needs is crucial for obtaining vital information about the organization's requirements, including specific departments or units that require training, as well as the knowledge and skills that trainees need to acquire for effective job performance. This evaluation also considers the individual needs of certain individuals who require specialized training (Wexley and Latham, 1991 Guthrie and Schwoerer, 1994).

The first step in the training process involves evaluating these needs and addressing the following questions:

1. Who requires training?
2. What specifically do they need to learn or be capable of doing?
3. What is their current level of knowledge or ability? (Burton and Thakur, 2003).

Subsequent steps include identifying specific training objectives that are specific, measurable, attainable, realistic, and time-bound. Then implementing the training program, evaluating its effectiveness, and making adjustments if necessary.

Assessing Training Needs:

• Who requires training?
• What do they need to know?
• What is their current level of knowledge?

Planning Training Evaluation:

• Did trainees find the training satisfactory?
• Were they able to meet the training objectives?
• Do they perform better in their job role?

Developing a plan: content , location , methods , trainers , continuance.
Behavior Training.When evaluating training, Oceanic bank gives high importance to aligning its development plan with ratings. The bank focuses on training and aims to create an environment that allows for learning and working at the same time.

Training at Pelagic Bank International PLC is a crucial task for the human resources department. Regardless of an employee's level

when entering the organization, it is mandatory for new employees to undergo a series of both on-the-job and off-the-job training.

The Oceanic Leadership Academy

The Pelagic Leadership Academy serves as the bank's training school. It is the initial point of training for all new staff members. The new staff members engage in rigorous academic studies at the Academy for a duration of five weeks, with their success primarily determined by written and oral examinations. The Academy plays a significant role in determining whether a new staff member will be retained in the bank or dismissed, as those who fail the short course will be asked to leave their employment.

The Oceanic Academy, which is part of the bank's Human Resource department, provides a range of courses and resources tailored to meet the bank's needs. The department is responsible for training and development activities that aim to enhance employees' skills, productivity, and competitiveness within the Oceanic Bank Group.

Among its offerings are specialized initiation courses for newly hired staff members. These programs take place in different branches of the bank and have the main goal of improving participants' financial literacy while also strengthening their knowledge and skills.

Both off-the-job and on-the-job training are provided to new entry-level officers in order for them to acquire the necessary skills and knowledge required by the organization. The administration offers a one-week initiation class for experienced new hires, a three-day initiation class for certain course levels, and a desk-to-desk initiation specifically designed for senior management staff.

Oceanic Bank's Off-the-job Training Program

This program is conducted externally with assistance from the bank.

The bank provides specialized training in various fields, particularly in modern technology, credit, and mortgage. Staff members

are sent on training programs, such as finacle training in India and other European countries. These programs enhance their knowledge and enable them to pass it on to their colleagues.
Oceanic bank focuses on on-the-job training by assigning a mentor to new employees. This mentor helps them learn the practical aspects of their job. Job rotation is also used as a training method, where employees are moved to different departments to gain more experience and familiarize themselves with all areas of banking. Job rotation provides employees with valuable opportunities to work in different sections of the bank. Overall, staff members at Oceanic bank benefit greatly from job rotation and on-the-job training.

The enterprise also helps staff members to travel to different sections, enabling them to bring new ideas to other sections and enhance employee performance. Job rotation of staff also reduces boredom on the job due to various tasks carried out by employees. This also allows the staff to gain understanding of all the core aspects of banking as well as working with different people and senior directors throughout the organization. Knowledge sharing subdivision: This is a training program designed by pelagic bank to be conducted by each subdivision on a weekly basis. It is led by designated staff members of the bank on a rotation basis. The purpose is to close learning gaps on the operations of the bank.

This is done specifically to update each staff of the bank on operations of the bank, the location of the bank, debut of new products as well as knowledge outside the banking operations.
Short courses in Oceanic bank
The bank occasionally organizes Open Courses which cover diverse areas of development

including Leadership, Communication, Health and Wellness, Credit Skills, Marketing Skills and Soft Skills. Mostly, the bank sends emails to staff to indicate their interest whenever the organization organizes open courses for staff. The bank encourages staff to register and monitor their progress for professional courses. In line with this, the Oceanic Academy partners with various organizations like the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers (CIBN) in the field of Continuous Professional Development Programs. They also encourage personal development of each staff by allowing them to go on study leave for further studies, which is a current opportunity being enjoyed by the author of this essay.

E- acquisition: This refers to the cyber training facilities provided by the bank to its employees for professional development. The website offers a variety of materials that employees can read and download to enhance their knowledge of core banking subjects as well as non-banking areas of study.

Effectiveness of Oceanic Bank Training Programmes

Oceanic Bank's training program is widely recognized as one of the best in the banking industry, as acknowledged by staff from other banks. The program is well-organized, ensuring that every staff member can easily participate without any stress. This is beneficial because it fosters a sense of love and appreciation for their work among the staff.

This, in turn, promotes efficiency and productivity. Through specific training procedures, employees gain confidence in their job performance and develop a sense of pride and satisfaction in carrying out their assigned tasks.

Disadvantages of the Oceanic Bank Training programs

Although having a formal training school like the Oceanic Bank Leadership Academy is beneficial, it is somewhat unfair to evaluate the

performance of new staff solely based on classroom exams. Moreover, it is even worse that those who fail the exam are dismissed from their employment. This practice is based on the commonly accepted belief that exams are not always the best way to assess individuals' knowledge. A highly qualified staff member who possesses practical knowledge of the banking system might still struggle to pass a written exam due to various reasons. As a result, the reliability of determining who successfully completed the academy is called into question.

Another deficiency noted in the Oceanic Bank Training programs is the manner in which on-the-job training is conducted. In the department where this writer is employed, the demands of work and the overwhelming customer inquiries often leave no space for training others on the job. Consequently, new employees often spend more time than usual acquiring new skills while working. In many cases, those responsible for providing the training lack experience in training, have no time for it, and lack the motivation to participate. Therefore, learners are essentially left to their own devices and the training is unlikely to be effective. Another issue is that on-the-job training can disrupt the normal workflow.

Unfortunately, in some cases, on-the-job training may not provide any preparation at all, especially if trainers simply leave the trainees to learn the job on their own. Additionally, the trainees may acquire bad habits or incorrect information from their supervisors or managers.

Decisions and Recommendations for Improvement

Due to the complexity of jobs in the banking sector, the importance of employee training has increased. In a rapidly changing society, employee training is not only a desirable activity, but also a necessary

one that organizations must invest resources in to maintain a capable and knowledgeable workforce (Karthikeyan, Karthi & Graf, 2010). Training should be viewed as an investment rather than a cost to the organization, considering the significant benefits it provides. Training is a crucial aspect of every organization as it is essential for effective employee performance and career growth.

Speaking logically, the better the training an employee receives, the higher their productivity will be. It is important to emphasize that training and development improve various aspects of an organization including quality, client satisfaction, morale, profitability, and overall productivity. This ultimately gives organizations a competitive advantage. This essay proposes a casual method for evaluating staff performance at the Oceanic Bank Leadership Academy.

The recommendation is to prioritize evaluating the practical tasks given to new staff rather than solely relying on written exams. Additionally, new staff should not be fired for failing written exams in the academy. It is also suggested that on-the-job training should be more formalized to reduce pressure and workload on trainers. Trainers should be allowed to focus more on the trainee rather than the clients during the training period. Oceanic bank is advised to implement personality development programs such as role-play, group therapy, and business games.

Through this, the management team, as well as other levels of staff, can foster collaboration and enhance the relationship between superiors and subordinates, resulting in improved productivity for the bank as a whole. In general, the Human Resources department should enhance their training programs to align with the latest requirements in the banking industry, especially in this era of online banking and sophisticated fraud. This is essential because any organization that

wishes to thrive in this highly dynamic banking world must have skilled and experienced professionals to carry out the necessary tasks.