6 - Corporate Social Responsibility and Workers’ Well-being in Nigerian Banks
Corresponding Author(s) : Ibimidu Akindele
African Sociological Review,
Vol. 20 No. 2 (2016): African Sociological Review
Abstract
The usual focus of Corporate Social Responsibility in Nigeria has always been on the society or
the community where business is located while the place of workers as stakeholder in business
is usually downplayed. This study examined the impact of corporate social responsibility on the
wellbeing of workers in the Nigerian banking system. The objective was to know if adequate
health facilities are provided for workers in the banks to meet their health needs when required.
The study was conducted among ten commercial banks in Ilorin North-Central Nigeria while
primary data was retrieved through self administered questionnaire from 160 participants.
Participants were selected through a multi-stage sampling technique while the Statistical
Package for Social Sciences (SPSS 19.0) was employed to analyse data retrieved from the field.
Hypotheses formulated in the study were tested using the Chi-square statistical tool. Findings
revealed that, 85.0% of the participants’ employers provided for them health facilities even
though only 55.1% of the health facilities provided are adequate. A significant relationship
was also found between participants’ wellbeing and health facilities provided p<0.05, while
there was no significant relationship was between wellbeing of participants and adequacy of
the health facilities provided by participants employers p>0.05. The study concluded that, even
though some banks in the country provide health facilities for their workers, the health facilities
provided are not adequate enough to meet the health needs of the workers. The study however,
recommended a more comprehensive health plan for bankers that cover life saving health care
services such as intensive care, surgeries and other life threatening diseases.
Keywords
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- Abiola, I (2014). Extracts from 2011 Financial Statements of six Commercial Banks in Nigeria.
- Journal of Economics and Sustainable Development, Volume 5, No 22. Achua, (2008). Corporate Social Responsibility in Nigerian Banking System. Society and Business Review. Vol 2 P 57-71.
- Adeboye, O.R., & Olawale, S.R (2012). Corporate Social Responsibility and Business Ethics: Effective Tools for Business Performance in Nigeria Banks, Interdisciplinary Journal of Contemporary Research Business, 4(5), 274-279.
- Adegbite, & Nakajima (2011). Corporate Governance and Responsibility in Nigeria.
- Electronic Journal of Discipline and Governance. Volume 8, 252-271.
- Ajede, S.A. (2011). Bank Recapitalization and Manpower Planning and Control. Paper Presented at the 6th ILERA (IIRA) African Regional Congress, Lagos, Nigeria.
- Akanbi, P.A., & Ofoegbu, O.E., (2012). Impact of Corporate Social Responsibility on Bank Performance. Journal of US-China Public Administration, 9,374-383.
- Akindele, R.I. (2001). Corporate Social Responsibility: An Organizational Tool for Survival in Nigeria. Ife Psychologia, 19, 113-126.
- Akingbola, R.O., & Adigun, A.O. (2010). Occupational Stress and the N i g e r i a n Banking Industry. AJ .economics and engineering, ISSN.2078-0346.
- Amaeshi, K.M., Adi, B.C., Ogbechie, C., & Amo, O.O. (2006). Corporate Social Responsibility in Nigeria: Western Mimicry or Indigenous Influences? Journale Social Citizenship, 24, 83-89.
- Anene, C., & Anene, F. (2013). Corporate Social Responsibility and Employee Health in the Nigerian Banking Sector. International Journal of Business and Social Research. Volume 3 No 6.
- Branco, & Rodrigues (2007). Positioning Stakeholders Theory within the Debate on Corporate Social Responsibility. Electronic Journal of Business Ethics and Organizational Studies Vol 12, P 5-15
- Carisson, M.G & Akerstom, I.K (2008). The Corporate Social Responsibility and the Profitability of Nigerian Banks. International Journal of Financial Research, 3(4), 33-45.
- Central Bank of Nigeria (25 November 2015). Central Bank of Nigeria: List of Financial Institutions- Commercial Banks. Abuja: Central Bank of Nigeria. Retrieved on 6 Decembe2015.
- Clarkson, B.E (1995). A Stakeholder Framework for Analysing and Evaluating Corporate Social Performance. Academy of Management Review. Volume 20 No1 Pp 92-117.
- Cohen, L., Manion, L., Morrison, K (2001). Research Methods in Education, New: Rout ledge Falmet.
- Freeman, R., Edward (1984). Strategic Management: A Stakeholders Approach, Boston: Pitman.
- Gberevbie, D.E. (2012). Leadership, the Financial Sector and Development in Nigeria.
- Journal, of Humanities and Social Sciences, 3. 148-157.
- Holme, R. & Watts, P. (2000) Making Good Business Sense. World Business Council for Sustainable Development.
- Marx, K (1867). A Critique of Political Economy, Vol.1. New York: International Publishers.
- Mc-Williams & Siegels (2001). Corporate Social Responsibility and Financial Performance Correlation or Misspecification. Strategic Management Journal Volume 21 No 5 Pp 603-609.
- National Consumer League (2005). Social Responsibility all about Workers Welfare, Survey Says.
- Retrieved from: http:// www.nclnet.org/workers-rights/107-corporae-social-responsibility/303-social-responsibility-all-about-worker- welfare-survey-says. Odetayo, T.A, Adeyemi, A.Z., Sajuyigbe, A.S (2014) Impact of Corporate Social Responsibility on Profitability of Nigerian Banks. International Journal of ch in Business and Social Sciences. Vol 4 No 8 Ogunwale, K., & Mohammed, A (2013). Diamond Bank Workers embark on protest. Daily Trust.Retrievedfromhttp://www.dailytrust.com.ng/daily/old/index. php/business/57077-Osaremem, E.J. (2012).Access Bank Female Marketer Dies of hypertension Over Inability to meet 1 Trillion Naira Target in 6 months. Nigeriafilm.com.Retrieved from http://www.nigeriafilms.com/news/18682/38/access-bank-female-marheter-dies-of-hypertension-html.
- Diamond-bank-workers-embark-on-protest.
- Steele, D. R. (September, 1999). From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation. Open Court. P. 143.
- Uwaloma, U & Egbide, B. (2012). Corporate Social Responsibility Disclosures in Nigeria: A Study of Listed Financial and Non-Financial Firms. Journal of tainability, 2(1) 160-169.
References
Abiola, I (2014). Extracts from 2011 Financial Statements of six Commercial Banks in Nigeria.
Journal of Economics and Sustainable Development, Volume 5, No 22. Achua, (2008). Corporate Social Responsibility in Nigerian Banking System. Society and Business Review. Vol 2 P 57-71.
Adeboye, O.R., & Olawale, S.R (2012). Corporate Social Responsibility and Business Ethics: Effective Tools for Business Performance in Nigeria Banks, Interdisciplinary Journal of Contemporary Research Business, 4(5), 274-279.
Adegbite, & Nakajima (2011). Corporate Governance and Responsibility in Nigeria.
Electronic Journal of Discipline and Governance. Volume 8, 252-271.
Ajede, S.A. (2011). Bank Recapitalization and Manpower Planning and Control. Paper Presented at the 6th ILERA (IIRA) African Regional Congress, Lagos, Nigeria.
Akanbi, P.A., & Ofoegbu, O.E., (2012). Impact of Corporate Social Responsibility on Bank Performance. Journal of US-China Public Administration, 9,374-383.
Akindele, R.I. (2001). Corporate Social Responsibility: An Organizational Tool for Survival in Nigeria. Ife Psychologia, 19, 113-126.
Akingbola, R.O., & Adigun, A.O. (2010). Occupational Stress and the N i g e r i a n Banking Industry. AJ .economics and engineering, ISSN.2078-0346.
Amaeshi, K.M., Adi, B.C., Ogbechie, C., & Amo, O.O. (2006). Corporate Social Responsibility in Nigeria: Western Mimicry or Indigenous Influences? Journale Social Citizenship, 24, 83-89.
Anene, C., & Anene, F. (2013). Corporate Social Responsibility and Employee Health in the Nigerian Banking Sector. International Journal of Business and Social Research. Volume 3 No 6.
Branco, & Rodrigues (2007). Positioning Stakeholders Theory within the Debate on Corporate Social Responsibility. Electronic Journal of Business Ethics and Organizational Studies Vol 12, P 5-15
Carisson, M.G & Akerstom, I.K (2008). The Corporate Social Responsibility and the Profitability of Nigerian Banks. International Journal of Financial Research, 3(4), 33-45.
Central Bank of Nigeria (25 November 2015). Central Bank of Nigeria: List of Financial Institutions- Commercial Banks. Abuja: Central Bank of Nigeria. Retrieved on 6 Decembe2015.
Clarkson, B.E (1995). A Stakeholder Framework for Analysing and Evaluating Corporate Social Performance. Academy of Management Review. Volume 20 No1 Pp 92-117.
Cohen, L., Manion, L., Morrison, K (2001). Research Methods in Education, New: Rout ledge Falmet.
Freeman, R., Edward (1984). Strategic Management: A Stakeholders Approach, Boston: Pitman.
Gberevbie, D.E. (2012). Leadership, the Financial Sector and Development in Nigeria.
Journal, of Humanities and Social Sciences, 3. 148-157.
Holme, R. & Watts, P. (2000) Making Good Business Sense. World Business Council for Sustainable Development.
Marx, K (1867). A Critique of Political Economy, Vol.1. New York: International Publishers.
Mc-Williams & Siegels (2001). Corporate Social Responsibility and Financial Performance Correlation or Misspecification. Strategic Management Journal Volume 21 No 5 Pp 603-609.
National Consumer League (2005). Social Responsibility all about Workers Welfare, Survey Says.
Retrieved from: http:// www.nclnet.org/workers-rights/107-corporae-social-responsibility/303-social-responsibility-all-about-worker- welfare-survey-says. Odetayo, T.A, Adeyemi, A.Z., Sajuyigbe, A.S (2014) Impact of Corporate Social Responsibility on Profitability of Nigerian Banks. International Journal of ch in Business and Social Sciences. Vol 4 No 8 Ogunwale, K., & Mohammed, A (2013). Diamond Bank Workers embark on protest. Daily Trust.Retrievedfromhttp://www.dailytrust.com.ng/daily/old/index. php/business/57077-Osaremem, E.J. (2012).Access Bank Female Marketer Dies of hypertension Over Inability to meet 1 Trillion Naira Target in 6 months. Nigeriafilm.com.Retrieved from http://www.nigeriafilms.com/news/18682/38/access-bank-female-marheter-dies-of-hypertension-html.
Diamond-bank-workers-embark-on-protest.
Steele, D. R. (September, 1999). From Marx to Mises: Post Capitalist Society and the Challenge of Economic Calculation. Open Court. P. 143.
Uwaloma, U & Egbide, B. (2012). Corporate Social Responsibility Disclosures in Nigeria: A Study of Listed Financial and Non-Financial Firms. Journal of tainability, 2(1) 160-169.