Employee Development And Profitability Of Construction Companies In Rivers State, Nigeria
Edori D S (PhD, ACA)
Business Department, C. S. S. Mgbuosimini, Port Harcourt, Rivers State, Nigeria
Edori V D (PhD)
GGSS, Rumuokwuta, Port Harcourt, Rives State, Nigeria,
Keywords: Training, Mentoring, Coaching and profitability
Abstract
Employee development in the present day business environment is paramount in order to be competitive, survive and remain profitable. The study therefore investigated empirically the relationship between employee development and profitability of construction companies with reference to Rivers State. Anchoring the study on the positivist paradigm the survey research design was adopted is the cross-sectional. The purposive sampling was applied in selecting twenty (20) staff from six (6) selected construction companies to arrive at one hundred and twenty (120) respondents. Primary data was gathered using structured questionnaire on the selected management staff of the selected construction companies. In assessing the relationship between the variables three null hypothetical statements were put forward. Training, mentoring and coaching were the proxies of staff development used against profitability. The Spearman’s rank order correlation coefficient was adopted in the assessment of the relationship between the study variables at a 0.05 level of significance. The results from the analysis revealed that there is a significant relationship between training, mentoring and coaching and profitability at significant value of 0.000 each and the relationship is high and positive between training and profitability at 0.677; moderate and positive between mentoring and profitability at 0.575; and low and positive between coaching and profitability at 0.375. It was then concluded that employee development has a significant positive relationship with profitability in the construction companies in Rivers State. Thus it was recommended that construction companies should embark on regularly training, mentoring and coaching of their staff in order to ensure profitability.