Effect of Human Resource Management Practices on Quality of Worklife among Employees of Financial Organizations in Nigeria

Abstract

Effective and efficient management of human resource management practices is the key to elevating employee quality of work-life and organizational productivity in every corporate organization. This study investigates human resource management practices and their import on the quality of work among employees in financial organizations in Nigeria. The study employed a descriptive research design to survey 127 managers and employees of the financial firms on a random basis. The study utilized multiple regression analysis to evaluate multiple constructs of HRM practices and their connections to the quality of work-life.  The findings of the study show that favorable working conditions and a motivated work environment have a positive impact on the quality of work-life of employees. It shows that quality welfare packages, fringe benefits and flexible working hours influence the quality of work-life of employees in financial organizations. The study demonstrated that training and development, coaching and mentoring impact on quality of work-life in financial organizations. The outcome of the study indicated that employees and performance appraisal hold a significant positive influence on employee quality of work-life among employees in financial organizations in Nigeria. The study concludes that the successful accomplishment of goals and objectives of the firm as well as employee quality of work are susceptible to putting in place a mixture of strategic human resources management practices that will make employees satisfied and committed to the firm objectives in which achievement of performance will not be an overwhelming effort.

Keywords: Human Resources Practices, Quality of Work life, Training and Development, Coaching and Mentoring, Employee Motivation, Employee Relations, Performance Appraisal