Human Capital Development as a Driver of Sustainable Growth in the Hospitality Firms in South Eastern Nigeria

Session

Management, Business and Economics

Description

The study investigated human capital development as a driver of sustainable growth in the hospitality firms in south eastern Nigeria. Six research questions and six hypotheses guided the study. The researchers employed the human capital theories and modernization theory to enrich the study. Empirical reviews from reputable journals were also used in the research. The researchers adopted the survey research design which includes the adoption of questionnaire and observation. The questionnaire was structured into a four-point likert scale. The population of the study comprises of management and non-management staff i.e 218 staff of ten selected hotels in south eastern Nigeria. The study adopted the Taro Yamen’s formula for sample size determination to obtain the value of 135 for the sample size. The essence of using Taro Yamen was to obtain the minimum number of questionnaire copies that should be distributed to respondents. The crombach alpha statistic was employed to obtain a reliability ratio of 0.76(76%). This shows that the instruments was 76% reliable. The validity of the study instrument was done by showing the questionnaire instrument to research experts for their inputs. The questionnaire instrument was therefore valid. The content validity was achieved by ensuring that all the items in the questionnaire were strictly on the research questions. That is face validity was achieved. Data analysis was committed to descriptive statistics, mean score, Co-efficient of variation (standard deviation) correlation analysis. The data analysis was done using SPSS software, version 19. Findings showed that human capital development strategies like job rotation, job enlargement and formal training enhanced such growth indices like expansion and profitability in the hospitality firms in south eastern Nigeria. The researchers concluded that any hospitality firm that relegates human capital development to the background would have exposed itself to stunted growth and poor performance. It was also concluded that any human capital manager that fails to consistently enhance his human capital development skills may lose, hence stunted corporate growth. It was further concluded that poor knowledge of job rotation, job enlargement and formal training on part of managers could make the human capital development strategies very difficult. It was recommended that management of hospitality firms should commit resources to the development of their human capital for sustainable growth and development. It was further recommended that management should ensure that any corporate staff who refuses to embrace self-development is relieved of his duties. This will create in the staff, the spirit of self-development so as to be better positioned to contribute to enterprise growth and development.

Keywords:

Human Capital Development, Sustainable Growth, Hospitality Industry, Performance Management

Session Chair

Nehat Ramadani

Session Co-Chair

Nehat Dobratiqi

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-69-1

Location

Pristina, Kosovo

Start Date

27-10-2018 10:45 AM

End Date

27-10-2018 12:15 PM

DOI

10.33107/ubt-ic.2018.295

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Oct 27th, 10:45 AM Oct 27th, 12:15 PM

Human Capital Development as a Driver of Sustainable Growth in the Hospitality Firms in South Eastern Nigeria

Pristina, Kosovo

The study investigated human capital development as a driver of sustainable growth in the hospitality firms in south eastern Nigeria. Six research questions and six hypotheses guided the study. The researchers employed the human capital theories and modernization theory to enrich the study. Empirical reviews from reputable journals were also used in the research. The researchers adopted the survey research design which includes the adoption of questionnaire and observation. The questionnaire was structured into a four-point likert scale. The population of the study comprises of management and non-management staff i.e 218 staff of ten selected hotels in south eastern Nigeria. The study adopted the Taro Yamen’s formula for sample size determination to obtain the value of 135 for the sample size. The essence of using Taro Yamen was to obtain the minimum number of questionnaire copies that should be distributed to respondents. The crombach alpha statistic was employed to obtain a reliability ratio of 0.76(76%). This shows that the instruments was 76% reliable. The validity of the study instrument was done by showing the questionnaire instrument to research experts for their inputs. The questionnaire instrument was therefore valid. The content validity was achieved by ensuring that all the items in the questionnaire were strictly on the research questions. That is face validity was achieved. Data analysis was committed to descriptive statistics, mean score, Co-efficient of variation (standard deviation) correlation analysis. The data analysis was done using SPSS software, version 19. Findings showed that human capital development strategies like job rotation, job enlargement and formal training enhanced such growth indices like expansion and profitability in the hospitality firms in south eastern Nigeria. The researchers concluded that any hospitality firm that relegates human capital development to the background would have exposed itself to stunted growth and poor performance. It was also concluded that any human capital manager that fails to consistently enhance his human capital development skills may lose, hence stunted corporate growth. It was further concluded that poor knowledge of job rotation, job enlargement and formal training on part of managers could make the human capital development strategies very difficult. It was recommended that management of hospitality firms should commit resources to the development of their human capital for sustainable growth and development. It was further recommended that management should ensure that any corporate staff who refuses to embrace self-development is relieved of his duties. This will create in the staff, the spirit of self-development so as to be better positioned to contribute to enterprise growth and development.