Business

CIBN sees career development as key to boost organization performance, retain talents


The Chartered Institute of Bankers of Nigeria (CIBN) has pointed to career development as a key factor to determine the performance of organisations and retaining talents as innovations and technology evolve.

Experts who spoke at the CIBN graduates induction and price awards day held in Lagos at the weekend disclosed that both employees and employers of labour especially in the banking sector must adapt to the changes in technology and innovation to thrive and meet up with organisation demand.

Ken Opara, president and chairman of council, CIBN, during his opening remarks said, “Today we live in a world characterized by the new normal. Change and massive disruption are understood to be the defining factors in how we live, work and operate. The global economy is buffeted by headwinds of change sweeping across national borders and traditional industry boundaries, the financial services industry not exempted.”

“Driving these changes are factors such as Fintech, Artificial Intelligence, Robotics, Blockchain, Cryptocurrencies, Cloud Computing and Internet of Things. Essentially, technology has been the major driver of change. Therefore, the need for Career development for Professionals in today’s VUCA world (Volatile, Uncertain, Complex and Ambiguous) has become a very important subject that cannot be over emphasized”

Similarly, Kadilat Araoye, chief executive officer of Lotus bank while delivering the keynote speech at the event themed ‘Career development in a changing world: strategies for financial service professionals’ elaborated various ways in which career development can benefit firms and employees.

Read also: Why human resources development is vital for organizational leadership

According to her, Career development to the employer is the support an organisation provides to an employee’s career, professional and personal growth, including training, coaching, mentoring, skills development, networking, attachment, and career pathing. It helps the organisation prepare for future talent needs, while to the employee remains a process of self-knowledge, exploration, and decision-making that shapes one’s career which requires successfully navigating one’s occupational options to choose and train for jobs that suit one’s personality, skills, and interests.

“Career development serves to attract and retain talent, utilise human resources, optimally enhance organisational effectiveness and performance, provide an assessment of the strengths, weaknesses and potentials in an organisation,” Araoye said.

On the side of the employee, the CEO stated that career development makes them adaptable to changes, promote a higher knowledge of self-awareness of strengths and weaknesses in employees, enhance the self-confidence and competencies of employees, encourage corporate and individual development, growth and promotion, sensitize employees to various career prospects or options available in the organisation, improve internal morale, motivation and engagement and produce a credible succession pipeline while creating a learning culture.

Meanwhile, a total of 1,857 graduates were inducted, 1099 Associates through the Regular Examination route, 47 Associates through the CBMBA route, 21 Associates via the MSc/ACIB route and 690 Microfinance Certified Bankers.

Also, awards of recognition were given to best practicing graduates and examiners who distinguish themselves to mark the celebration.

The event also has many dignitaries from the banking sector in attendance including Babatunde Lemo, former deputy CBN governor/chairman Titan Trust bank, Abdullahi Ahmed, chairman FBN Holdings/former director, banking supervision at CBN represented by Oyewale Ayibiri, chief financial officer at FBN Holdings and host of others who joined both physically and virtually.



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