Organization skills

CIBN sees career development as key to driving organizational performance and retaining talent

The Chartered Institute of Bankers of Nigeria (CIBN) indicated that career development was a key factor in determining the performance of organizations and retaining talent as innovations and technology evolve.

Experts who spoke at the CIBN Graduate Induction and Awards Day held in Lagos over the weekend revealed that employees and employers, particularly in the banking sector, must adapt to technological change and innovation to thrive and meet the demands of the organization.

Ken Opara, CIBN President and Chairman of the Board, in his opening remarks said, “Today we live in a world characterized by the new normal. Massive change and disruption are seen as the defining factors in how we live, work and function. The global economy is rocked by headwinds of change sweeping across national boundaries and traditional industry boundaries, with the financial services industry not exempt.

“These changes are driven by factors such as Fintech, artificial intelligence, robotics, blockchain, cryptocurrencies, cloud computing and the Internet of Things. Essentially, technology has been the main 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 topic that cannot be overstated.”

Similarly, Kadilat Araoye, Managing Director of Lotus Bank, during his keynote address at the event on the theme “Career Development in a Changing World: Strategies for Financial Services Professionals”, elaborated various ways in which career development can benefit companies and employees.

Also read: Why human resource development is vital for organizational leadership

According to her, career development for the employer is the support that an organization provides for the career, professional and personal growth of an employee, including training, coaching, mentoring, skills development , networking, attachment and career path. This helps the organization prepare for future talent needs, while for the employee remains a career-shaping process of self-knowledge, exploration and decision-making, which requires successfully navigating their career options to choose and train for jobs that match their personality, skills and interests.

“Career development serves to attract and retain talent, utilize human resources, optimally improve organizational efficiency and performance, provide an assessment of an organization’s strengths, weaknesses and potentials” , said Araoye.

On the employee side, the CEO said that career development makes them adaptable to changes, promotes better self-awareness of employees’ strengths and weaknesses, builds employees’ self-confidence and skills, encourages the development of company and individual, growth and advancement, make employees aware of the various career prospects or options available in the organization, improve internal morale, motivation and engagement, and produce a credible succession pipeline while creating a culture of learning.

During this time, a total of 1,857 graduates have been inducted, 1,099 associates through the regular examination route, 47 associates through the CBMBA pathway, 21 associates through the MSc/ACIB pathway and 690 certified microfinance bankers.

Additionally, recognition awards were presented to top graduates and examiners who stood out to mark the celebration.

The event also has many banking industry dignitaries in attendance including Babatunde Lemo, former Deputy Governor/Chairman of Titan Trust Bank, Abdullahi Ahmed, Chairman of FBN Holdings/former Director, Banking Supervision at CBN represented by Oyewale Ayibiri, CFO of FBN. Holdings and host of others who joined both physically and virtually.