THE CHALLENGES OF HUMAN RESOURCE MANAGEMENT PRACTICE IN ESTATE MANAGEMENT FIRMS IN LAGOS STATE

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ABSTRACT

 

This research work aims at examining the challenges of managing human resources in estate firms in Lagos State. It has been said that human resource is the most vital resource for any organization. It is responsible for each and every decision taken, for each and every work done and each and every result. Employers should be managed properly and motivated by providing best remuneration and compensation as per the industry standard.

 

In conducting the research works, both secondary and primary sources of data were adopted. The characteristics of the population of study were the registered estate firms within Lagos Island, Lagos Mainland, and Ikeja local government. The simple random sampling procedure was adopted in selecting those firms in which questionnaires were administered. The techniques for analyzing the data was through various applications, tools and available functions in the Statistical Package for Social Science (SPSS). Test the hypothesis, chi square was adopted.

 

The outcomes of the analyses are spelt out in the last chapter of this research work. Most importantly it was seen that when employees are adequately compensated, it motivates them to work harder, thereby increasing their performances in the work they do and this in return will increase the turnover of the firm.

 

It was recommended that the managing partners be schooled in human resource practices, so as to be effective in managing their work force. Also percentage gain on transactions concluded should be given to the employees to increase their performances thereby making them productive.








TABLE OF CONTENTS

 

CONTENTS                                                                                      PAGES
title page                                                                                                         i

Certification                                                                                                    ii

Dedication                                                                                                      iii

Acknowledgement                                                                                          iv

Synopsis                                                                                                          v

Table of contents                                                                                            vi

List of tables


Chapter One

General Introduction

1.1              General Introduction                                                                          1

1.1       Introduction                                                                                        1

1.2              Statement of problem                                                                         2

1.3              Aim and Objectives                                                                            3

1.4              Research Hypothesis                                                                           3

1.5              Scope of study                                                                                                4

1.6              Significance  of study                                                                                     4

1.7              Limitation of the study                                                                       5

1.8              Definition of terms                                                                             5

References                                                                                          6

 

CHAPTER TWO

2.0       Literature Review                                                                              

2.1              Introduction                                                                                        7

2.2              Historical background                                                                         7                     

2.3              Relevant  theories and model                                                             8

2.3.1        Theory of man-management                                                               9

2.3.2        Theories  of Compensation                                                                 9

2.3.3        Lawler models of pay satisfaction                                                      10

2.4              Current Literature                                                                               13

2.4.1        Estate Management as a profession                                                    16

2.4.2        The estate firm and its establishment in Nigeria                                 16

2.4.3        Human resource management                                                             16

2.4.4        The need for effective human resource management in real

estate firms                                                                                          18

2.4.5        Functions of human resource management in estate firms                 21

2.4.6        Compensation Management                                                               22

2.4.7        Evolution of Compensation Management                                          25

2.4.8        Types of  Compensatin                                                                       27

2.4.9        Elements of Compensation Package                                                   30

2.4.10    The Significance of Financial Compensation and the                        35

Need for Compensation Management                                                37

2.4.11    The Role of Compensation to the Employer and Employees             41

2.4.12    The Relationship of Pay, Performance, Job Satisfaction                    42

2.4.13    Challenges of Human Resources Management in Estate Firms         46

2.4.14    Strategic Waste to Overcoming Human Resources Management      47

References                                                                                          50

 

CHAPTER THREE

3.0       Research Methodology and Study area                                              51

3.1              Restatement of research hypothesis                                                    51

3.2              Sources of data                                                                                   51

3.2.1        Primary source                                                                        51

3.2.2        Secondary source                                                                                52

3.3              Characteristics of the population of study                                          52

3.4              Sampling Techniques                                                                          52

3.4.1        Sampling Design                                                                                 52

3.4.2        Sampling Procedure                                                                            52

3.4.3        Determination of sampling size                                                          53

3.5              Questionnaire Administrative                                                             53

3.5.1        Questionnaire Design                                                                          53

3.5.2        Questionnaire Distribution                                                                  53

3.5.3        Collection of Responses                                                                     53

3.6              Techniques of Data Analysis                                                              53

3.7              Limitations of Research Methodology                                               54

3.8              Study Area/Case study                                                                       54

References                                                                                          57

 

CHAPTER FOUR

4.0             Data Presentation and Analysis of Data

4.1       Introduction                                                                                      58

4.2       Presentation and Analysis of Data Based on Research

Hypotheses                                                                                       58       

4.3       Testing pf research hypothesis                                                      73

 

 

CHAPTER FIVE

5.0             Summary of findings , Conclusion, Recommendations and     

suggestions for further studies                                                       75

5.1       Summary of Findings                                                                      75

5.2       Recommendations                                                                           77

5.3       Conclusion                                                                                        78

Bibliography                                                                                                 79

Appendix I Questionnaire

            Appendix II Data Output

 

 



 

LIST OF TABLES.

 

Table 4.1         Location                                                                                              57

Table 4.2         Position                                                                                               58

Table 4.3         Academic qualification                                                                       60

Table 4.4         Work experience                                                                                 60

Table 4.5         Arms that manage human resource of the firms.                                60

Table 4.6         Effectiveness of human resources managers                                      61

Table 4.7         Evaluation of staff performance                                                         62

Table 4.8         Regularity of staff performance                                                         63

Table 4.9         Basis of performance evaluation                                                         64

Table 4.10       Sanctioning of under performing employees                                      64

Table 4.11       Are performing employees rewarded                                                 65

Table 4.12       Employee productivity contribute to the growth of the firm             65

Table 4.13       Reasons staff are not well paid                                                           66

Table 4.14       Impact of lack of inadequate compensation                                       66

Table 4.15       Resultant effect of inadequate compensation                                    67

Table 4.16       Adequate compensation will result into increased productivity         68

Table 4.17       Challenges faced in managing human resources                                 68

Table 4.18       Areas of challenges                                                                            69 

Table 4.19  Solution to the challenges faced                                                    69       

 

 

 

 

LIST OF FIGURES

 

Figure 2.1        Positioning of human resources in any firm                                       7

Figure 2.2        The significance of financial compensation                                       15

Figure 2.3        Model of pay satisfaction (Lawler’s model)                                       15

Figure 2.4        Human resources planning.                                                                 20

Figure 2.5        Evolution of strategic compensation                                                  28

Figure 2.6        Maslow’s need hierarchy                                                                    29

Figure 2.7        Direct compensation                                                                           31

Figure 2.8        Indirect compensation                                                                        33

Figure 2.9        Need of compensation management                                                   40

Figure 4.1        Location                                                                                              45

Figure 4.2        Positions                                                                                              58

Figure 4.3        Academic qualifications                                                                     59

Figure 4.4        Work experience                                                                                 60

Figure 4.5        Arms that manage human resources                                                   60

Figure 4.6        Regularity of staff performance                                                         63

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


CHAPTER ONE

 

1.0              GENERAL INTRODUCTION

1.1.            INTRODUCTION

Central of  the growth, profitability  and success of any firm is the effective acquisition utilization and maintenance  of the organization’s human recourse is so  critical to any firm’s survival such that it has  judging by today’s complex business  environment, been acclaimed as the most important  resources available to any organization or firm. 

 

Workforce management has become increasingly complex.  The heritage and growth of human resource management profession is closely linked to people’s attitudes about work. Michael (1998) explained that the human resource field today recognizes the dynamic relationship between strategy, people, technology and the processes that drive organizations.  Therefore, it is important to note that no matter how sophisticated a firms equipment are, someone will have to operate them. It is a truism that an adequate supply of physical and financial resources does not alone ensure the economic development of any organization. (Banjoko 1996). Rather, it is the entrepreneurial spirit and  executive  initiative which can utilize these resources profitably for the organization.

 

The goal of human resource equipment is to help an organization to meet strategic goals by attracting and maintaining employees  and also to manage them effectively, Fajana (2006) explained that the most important and versa resource in any organization is the  human element. It is the only resource that is capable of thinking, planning, executing and achieving of organizational results.  This is why it is being said that human and the potential they possess drive any firm. Today estate firms are continuously changing and this impact not only the business but also its employees.  In any firm, human resource management is responsible for bringing people into the organization, helping them perform their works,   compensating them for their labours and solving problems that arose.   (Churrington 1995). Generally, in most estate management firms, there are no human resource department, therefore, a line manager (managing) partner or managing director) will be responsible for the functions of human resources management.

 

Furthermore,  the effective  management of human resources  result to  better performance of the employee and this  has implication for the firm’s level  outcomes and also collectively,  a firm’s level  and  use of employee can also provide a unique source of competitive advantages that is difficult for its competition  to replicate. The issue now is whether or how firms can capitalize on this potential source of profitability.

 

It is a common saying that whatever task a man involved himself in, there will always be a call to try his skill or strength. So also in human resource management, some challenges are faced by the line managers in putting their emphasis on attracting and retaining talents.  Some of the challenges faced will be reviewed in this dissertation work. Most especially, payroll, tax regulations, compensation rates and employee benefits are some of the labour cost that real estate firms must control.  The question now is, as labour cost continue to rise, how can real estate firms achieve satisfactory profit margins?

 

It is in the light of the above that this dissertations is directed at analyzing the challenges of human resource management in estate management firm, using Lagos State as a case study.

 

1.2       STATEMENT OF THE PROBLEM

The success of any organization lies on the ability to manage a diverse body of talents that can bring innovative ideas, perspectives and views of their work.

 

In estate management firms, it has been observed that most employees tend to move from their workplace for a better employment. This is caused by poor human resources management. Therefore, there is a need for effective human resource management.

 

In most estate firms, there are no human resource management department, therefore a line manger perform their roles.  In the  view of the above,  how effectively  do the line managers carry out or implement  human resource management functions in real estate firm?

 Also in applying these human  resources functions  there will always be a call to try his (line manager) skills, otherwise called challenges  what may be the likely challenges  to be met and  how will they  be faced or how can they be turned to become a major  asset to the firm?

This dissertation is structured to answering the above questions.

 

1.3       AIM AND OBJECTIVES

The aim of this study is to examine the challenges of managing human resources in real estate firms in Lagos State.  In order to achieved the above stated aim the following objective are:-

·         To examine the effectiveness of managers in human resource management in estate firms.

·         To identify the problems that may be encountered by the line mangers, in managing human resources in estate firms.

·         To proffer solutions to the identified challenges.

 

1.4              RESEARCH HYPOTHESIS

Ho:- There is no correlation between effective human resource management and productivity.

Ho:- There is a correlation between effective human resource management and productivity.

 

1.5              SCOPE OF STUDY

Human resource management on its own is too wide. It is the intention of this dissertation to limited this aspect to those that are most important to real estate firms like training and development, motivation, employee benefit, compensation management, staffing/recruiting and planning.

 

It is not within the  scope of the study to cover the whole estate firms in Lagos State as this will be too tasking. Therefore, this research will be concentrating on 30% of the estate firms in Lagos State. These areas  have been selected for study because it is envisaged that information  provided will be sufficient enough to speak for the entire Lagos State.

 

1.6              SIGNIFICANCE  OF STUDY

Human resources management is evolving rapidly and it is both an academic theory and a business practice that addresses the theoretical and practical techniques of managing a workforce.

 

This study will contribute to the body of knowledge, that is, it  will provide information on the human resource management to researchers and student in various fields and estate surveyors and valuers.

 

Furthermore, it will help estate surveyors who seek knowledge, in human resource management to know the likely challenges to be encountered and how they can be tackled, and effectively manage.

 

 

1.7              LIMITATION OF THE STUDY

In the course  of this work, various limitation were encountered posting  greatest to the  completion of this research  work. They include:

-                      Inadequate finance

-                      Dearth of information

 

 

 

1.8              DEFINITION OF TERMS

 

1.8.1        MANAGEMENT

Encyclopedia of professional management as citied in Olayiwola (2000) defines management as “an integrating process by which authorized individuals create, maintain and operate an organization the seductions and accomplishment of its aim.

 

1.8.2        ESTATE MANAGEMENT

Throncoft (1965) defines estate management as the director and supervision of an interest in land with the aim of securing optimum returns.

 

1.8.3        HUMAN  RESOURCE

According  to Wikipedia, the  free encyclopedia, human resource is a person or employee who staffs and operates  a function within an organization.

 

1.8.4        HUMAN RESOURCE MANAGEMENT

According to Wikipedia, the free encyclopedia, human resources management is defined as the strategies and coherent approach to the management of our  organization’s mot valued assets- the people working  there who individually and collectively contribute to the achievement of the objectives of the business.

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