Impediments Of Employee Training As A Facilitator For The Sustainability Of Selected Firms In Nigeria

Abstract

Critical job skills are often inadequately addressed in formal education, making employee training essential. Many companies misalign training with organizational goals, leading to wasted resources and decreased performance. Moreover, some professionals doubt the value of training when employees frequently leave. This study employs a quantitative approach to assess the impact of employee training strategies on firm sustainability and to explore perceptions in the banking and IT sectors regarding cost recovery for training amid high turnover. Involving 263 respondents, the study utilized ordinary least squares and independent t-tests to analyze the data. Findings reveal that effective training strategies are vital for sustainability. There is no significant difference between the banking and IT sectors regarding recovery agreements for training costs when employees leave shortly after upskilling. However, there is a notable difference in their views on repayment systems for recouping training expenses. To improve retention, firms must invest in adequate training and value their employees, significantly reducing turnover.