Human Capital Management Practices Adopted By The National Social Security Fund

Abstract

ITic stuck- was earned out with the objective of determining the extent to which N.S.S.F has adopted HCM practices. ITic HCM practices which were explored include Resourcing, Retention and Flexibility Strategies, Talent Management, Learning and Development, Management Succession Planning, Performance and Reward Management Strategies. The researcher used case study design, where the target population was determined to be ninety eight (98) management staff in the Human Resource and Administration department. A sample of forty' eight (48) officers was selected. Of these, eight senior officers were selected on basis of their status and positions in the Human Resource and Administration department, while the rest were selected through stratified sampling technique. Data collection instruments used in the study are interview guide and questionnaire. However, some substantial amount of data was collected through documentary- analysis. A response rate of 82.5% was achieved on questionnaires, while six (6) of the eight (8) senior officers sampled for interview were interviewed. Both content and quantitative analysis were used to analyze data which was then presented in frequency tables, bar graphs, percentages, rank ordering, mean scores and standard deviation. Overall, the findings of the study indicate that the organization has implemented HCM practices, but to a negligible extent. Some of the HCM practices adopted by the organization include, enhancing the organization’s capacity through staff training and development; setting of clear performance standards, explaining its mission, vision, and values to employees, outsourcing of non core activities, and flexibility of staff mortgage (TPS) and car loan schemes. However, the rest of the practices have either not been adopted or are adopted to a negligible extent. Practices such as provision of career opportunities to employees, reward and recognition, effective communication, execution of equitable pay, enhancement of group cohesion, provision of effective job designs, efficient recruitment and selection procedures, flexible working hours, multi-skilling of employees, execution of differentiation strategy on training and development, and also on compensation policy, flexibility' of staff retirement benefits, medical, and educational assistance schemes, aligning of human capital planning with the overall corporate strategy, forecasting of supply and demand of employees, placement/deployment of employees in die right jobs, and human capital measurement, have all been adopted to a negligible extent. Recommendations made for action by the N.S.S.F Management touch on the above practices which have been implemented to a negligible extent. For instance, they should implement a differentiated compensation policy where pay is related to performance rather than job grade and tenure, improve on human capital measurement by considenng other human capital elements for measurement, align human capital planning with the overall corporate goals and objectives, forecast on supply and demand of employees to anticipate the potential problem of surpluses and deficits, provide career opportunities to employees and deploy them appropriately in areas where they can contribute their best to the organization. Further research needs to be carried out particularly in the area of human capital measurement for there is not much literature available on it.