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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/10280

Title: The prospects and challenges of outsourcing human resource in the banking industry the case of Fidelity Bank.
Authors: Sackey, Bernice Oparebea
Issue Date: 25-Jan-2017
Abstract: This study assessed the prospects and challenges of outsourcing human resource in the banking industry using the case of Fidelity Bank. The population for the study was staff of Fidelity Bank. The head office in Accra was selected for the study. A simple random sampling technique was used to select staff from the bank. A purposive sampling technique was used in selecting some mangers of the bank for the interview. The study used both primary and secondary data. The study revealed that the bank had outsourced some of its HR functions including its banking tellers, cleaning and security services and this has been given to contracts on a long-term partnership basis. The main challenges that the bank faced in outsourcing its HR included loss of managerial control over outsourced operations, effect on the quality of operations of the bank, security and confidentially and relocation of existing employees, hidden costs, loss of in-house knowledge and skills and loss of organizational innovation and knowledge. It was realised from the responses gathered that the respondents did not agree that HR outsourcing have had an impact on employee performance, have contributed to the performance of the bank and have also had an advantageous impact on both the organization and individual employees. It was recommended that management must be committed to employee satisfaction by understanding and satisfying the needs of their employees. The bank and the outsourced company should at all times know how each party is developing and the challenges that each party faces with regards to their relationship. The bank must also endeavour to understand how its decisions impact upon employees since the performance of the bank is affected by staff commitment, loyalty and satisfaction. The bank must also consider carefully the impact of its outsourcing on security and the confidentiality of its operations.
Description: A Thesis Submitted to the Department of Marketing and Corporate Strategy, Kwame Nkrumah University of Science and Technology, Kumasi In Partial Fulfillment of the Requirement for the Degree Of Executive Master Of Business Administration (Strategic Management and Consulting -Option), School of Business College of Humanities and Social Sciences, 2016.
URI: http://hdl.handle.net/123456789/10280
Appears in Collections:College of Arts and Social Sciences

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