Management Development and Workers’ Efficiency of Insurance Companies In Nigeria

Abstract

This study sought to examine the stimulating influence of management development on workers' efficiency of the insurance industry in Rivers State. Correctional research design was applied. The Krejcie and Morgan sample size determination table was employed in a bid to determine the sample size. Hence, the sample size is fifty-six; 27 managers and 28 supervisors drawn from the population size of 62 from the 10 insurance companies under review. The outcome of the analysis led to the finding that experiential learning, management training, and technology has significant effects on workers’ efficiency. The Spearman’ Rank Order Correlation Coefficient was used via the aid of Statistical Package for Social Sciences. It was recommended that: Experiential learning should be encouraged as it gives room for critical thinking, enhances problem solving and increases decision making skills which will translate into workers' efficiency for the insurance companies. Management should be consistent with having management trainings as this will help boost employees’ confidence, while creating the ability of the trainee to implement company strategies and mitigate avoidable damages that could result in workers' inefficiency. Technology should be introduced into management development as will improve existing processes, while revealing newer ways to accomplish tasks with the aim of harnessing the potentials of the employees despite seeking workers’ efficiency.