Strategic Resource Management and Workforce Training and Development of Indigenous Oil and Gas Service Firms in Nigeria

David Ihochukwu Enwere (), Professor Mrs. Ihuoma Pauline Asiabaka (), Professor Barr. John Ibinwangi Ogolo (), Dr. Kelechi Enyinna Ugwu () and Dr. Mrs. Patricia Onyinyechi Onyechere ()

Journal of Business and Strategic Management, 2024, vol. 9, issue 8, 64 - 89

Abstract: Purpose: The study aimed to examine the influence of strategic resource management on workforce training and development of indigenous oil and gas service firms in Nigeria. Methodology: The study which adopted survey research design at the organisational unit of analysis used a self-developed five-point Likert scale questionnaire as instrument of primary data collection from management level respondents. The population of the study was 1827 indigenous oil and gas service firms in four randomly selected South-South States of Nigeria with sample size of 328 determined with Taro Yamane’s formula and proportionally allocated with Bowley’s formula. The scale of measurement reliability was determined with Cronbach’s Alpha and its construct validity tests were with Pearson’s r, Kaiser-Meyer-Olkin (KMO) measure of sample adequacy and Bartlett’s Test of Sphericity. The collected data were analysed using descriptive and inferential statistics in Microsoft Excel Software Package version 2016 and IBM Statistical Package for the Social Sciences (SPSS) version 29 software application tools respectively and the research hypothesis tested with simple regression analytical techniques. Results: The results of regression analysis showed that strategic resource management significantly and positively influenced workforce training and development of indigenous oil and gas service firms in Nigeria. Therefore, the study concludes that strategic resource management has significant and positive influence on workforce training and development of indigenous oil and gas service firms in Nigeria. Unique contribution to theory, policy and practice: Based on the results, the study recommended that owners/managers of indigenous oil and gas service firms in Nigeria and other parts of world should continuously invest in their strategic resource management capabilities with special attention to human capacity development in technical skills and talent acquisitions and retention.

Keywords: Strategic Resource Management; Workforce Training and Development; Indigenous Oil and Gas; Service Firms. (search for similar items in EconPapers)
Date: 2024
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