Boosting employee morale through effective personnel management of selected banking and insurance firms in Nigeria

Abstract

The ISA 2007 should also be changed to include notice of trade unions or their representatives in the case of large mergers, just as in the case of intermediate mergers, since legislation is a continuous process. This will help to preserve the goodwill of interested workers, who are the backbone of any organization during a merger or personnel management process. Regulatory bodies must guarantee that enough shareholders are kept informed and unsurprised throughout the merger and personnel management proceedings to avoid these business dealings becoming monopolistic. Based on this discovery, the research concluded that most Nigerian financial institutions were involved in very few strategic integration initiatives, particularly vertical integration. It is consequently recommended that Nigerian insurance and financial institutions improve the level of customisation offered to their clients to retain current clients and draw in new ones.