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ASSESSMENT OF EMPLOYMENT REQUIREMENTS IN THE BANKING SECTOR AND ITS IMPACT ON UNEMPLOYMENT IN NIGERIA

CHAPTER ONE

INTRODUCTION

Rapid changes have occurred in many aspects of human existence, including the workplace, for decades. This is due to advancements in technology. In today’s corporate world, any office, whether governmental or private, requires facts and correct information in order to make timely judgments. The cashier, like the employee, anticipates some assistance from the company where he works. This assistance can take the form of both technological (machines and equipment) and human resources. Managers dictated notes and letters in prior offices, while personnel wrote them. Companies have recently developed text processing centers, relying on personal computers and even email to reduce the need for secretarial assistance while increasing employee productivity (Ezoem, 1995, Osuala, 2004).  ICT job requirements have evolved dramatically as a result of technological advancements, from typewriter and shortened dictation to telephone conversations and e-mail processing. Employees today are familiar with workplace tools like the Internet, which make work easier and knowledge more accessible (Edwin, 2008). It is now simpler to deliver communications via telex, email, fax, and phone. Photocopiers, copiers, dictation machines, printers, and other office equipment are available to the employee. This is the era of computing and information technology, which has ushered in a new level of convenience. Word processors, which let users write and edit memos, charts, and reports, and data management applications, or databases, which help them use large lists of data, are three of the most common types of computer software products. Employees today have access to a wide range of technologically advanced office equipment to help them do their jobs more efficiently and effectively, resulting in better access to goods and services throughout the world (Wofersohn, 2001). Employees can improve their performance by using a variety of machines and office equipment. These new devices are electronic typewriters, which have taken the role of manual typewriters. Employers now give word processing equipment, computers, and other sophisticated devices and office equipment, among other things. Computer communication devices and electronic pocket organizers are examples of physical gadgets used by employees (Lucas, 1997). Computers, email/commerce, voice mail, and the Internet are examples of modern technical equipment that have transformed office routines and approaches.

These new advancements, however, necessitate more knowledge and abilities than simply graduating, resulting in job losses and unemployment. So that the employee is up to speed with changing times, capable of facing obstacles, and overcoming the old approaches that were previously required to meet the organization’s objectives. In recent years, information technology has had a significant impact on a wide range of professions. Technology has flipped the function of the secretariat’s specialists. It has given business strategists the instruments to determine the role of employees in the function of information capturing devices (Appah and others).

Emeh (Emeh, 2011). Several additional authors believe that employees must be well-equipped to tackle the problems of today’s workplace.

In Nigeria, the Ministry of Education is one of the most important ministries in charge of skill development. The Ministry’s overall goal is to provide relevant and high-quality education to all Nigerians, particularly the poor, in order to enable them to acquire skills that will enable them to become functionally literate and productive, thereby assisting poverty alleviation and promoting the country’s rapid socioeconomic growth.

The banking sector is a major employer of labor in the private sector, and it is one of the most technologically advanced sectors in the world. Employees in this sector must be qualified for the tasks offered in this sector. In Nigeria, the skilled labor force is small in comparison to the unskilled, resulting in an increase in unemployment in this area.

Statement of the Research Problem

Employees will surely have new roles and duties in an automated office. Employees will need to have extra training and certifications in order to fill these new responsibilities. According to Aromolaran (2003), the importance of automation in the banking business is as follows:

i.) Provide the person with an alternate career path.
ii.) Automation elevates the individual to a prominent position in the organizational ladder.
iii.) Establish employee routines and allocate duties.
iv.) Employees now spend less time rewriting, revising, evaluating, and replicating papers as a result of automation. Cameron (1982) observed that 10 to 15 years pass between the debut of new equipment on the market and its installation in small businesses. This is especially true in developing countries for private commercial enterprises. It is not uncommon for staff to still utilize manual typewriters in some firms nowadays. However, progress has been made in the financial sector, and the adoption of new equipment is gaining traction.
Employees must face the problems of acquiring new ones, according to Duniya (2011), because of the advent of advanced technological (electronic) office equipment in today’s office and the role that employees must play in assuring accuracy and efficiency in their jobs. Skills and competencies required for effective work in the electronic industry

Purpose and objectives of the study

The study’s main goal is to examine the banking sector’s employment needs and their influence on unemployment in Nigeria. The following are the precise purposes that research aims to attain.
1. Be familiar with the range of innovative office technologies available in the banking industry.
2. Examine how efficient and useful these new office technology are.

3. Identify Nigeria’s structural unemployment.

4. Determine the impact of employment requirements in the banking sector on unemployment.

Research questions

A set of questions would be investigated in order to meet the study’s objectives. The research is guided by the following questions, which vary depending on the topic and purpose.
1. What are the latest financial technologies?
2. In the Nigerian banking business, what innovative office technology are available?
3. What is Nigeria’s unemployment rate?
4. What percentage of the unemployment is due to a lack of banking sector capability?
1.5 The study’s scope
The study is focused on the banking sector in Nigeria. The study focuses on modern office technologies and their impact on employees and employment in a specific context.

Significance of the study

Only a few studies examining current office technologies and employee productivity in African countries, particularly Nigeria, have been published to date. This research should aid in a better understanding of the subject. From a professional standpoint, the study’s findings will serve as a baseline for evaluating the effectiveness of introducing new office technologies in the workplace and defining crucial productivity aspects.
Finally, this study will serve as a springboard for future research, as it will encourage numerous scholars to dig deeper into the subject.

Organization of the study

There are five chapters in this research. The general description of the study, the characterization of the problem, the research question, the research aims, and the significance of the investigation are all included in Chapter 1 of the dissertation. The essential bibliographical study on waste management and related concepts is presented in Chapter 2. Chapter 3 focuses on determining the most acceptable research methods for this study, while Chapter 4 examines the data and discusses the lessons learnt in this subject. Finally, in Chapter 5, the findings, conclusions, and suggestions are summarized.

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