Effect of Contingent Employment Practices on the Performance of Deposit Money Banks in Nigeria

Abstract

The study examines the effect of Contingent Employment Practices on the Performance of Deposit Money Banks in Nigeria. The study sought to establish the effect of Contingent Employment Practices variables of casualization, contract employment, part-time employment and outsourcing on organizational performance variables of profitability, Growth, and productivity in the Deposit Money Banks in Nigeria. A cross-sectional survey design complimented by Ex-post facto design was adopted for the study. The total population was 14,134 of employees of the rank of manager and above in 13 listed Deposit Money Banks in Nigeria as of 31st December, 2018. Both primary and secondary sources of data were employed for the study, using the questionnaire and bank annual financial accounts. The sample comprised of 421 managerial staff of the listed Deposit Money Banks. The data for the study were analyzed using multivariate analysis with the aid of SPSS version 16. The findings revealed that there is a strong positive and significant effect of contingent employment practices on performance of the Deposit Money banks in Nigeria. It was therefore recommended amongst others that Deposit Money Banks in Nigeria should outsource non-core functions to specialized vendors who are in a position to offer efficient service delivery at a lower cost. Deposit Money banks in Nigeria should exploit contract employment to the fullest to take maximum advantage of cost savings in respect of training and development, and to benefit from creation and transfer of knowledge within the bank.