Job Insecurity in Selected Banks in Ibadan Southwest Nigeria

Abstract

Job insecurity has become an important phenomenon that affects the job performance. This problem is prominent is
worsened in the banking sector of Nigeria. This paper examined Job Insecuity amongst bank workers in ten (10) selected new
and old generation banks in Nigeria. The study was anchored on Adam Smith’s Equity theory, utilized both qualitative and
quantitative techniques to gather data from two hundred and sixty (260) respondents randomly selected from the ten banks.
Findings from the study revealed that Findings from the study showed that 58.8% of the respondents agreed that unfavorable
government policy makes their future uncertain and 55.2% agreed that absence of trade unions make the future of their job
unprotected. Also, 39.8% of the respondents have intention to leave their present employer and 54.4% agreed that there is high
labour turnover in their respective organizations. From the bivariate analysis, there was significant relationship between old
generation banks and new generation banks on perception of level of job insecurity (X2c=15.475; p<0.05; there was significant
association between the age of respondents and perception on level of job insecurity (X2c=8.613; p<0.05); and there was no
significant association between respondents’ category of staff and perception on level of job insecurity (X2c=0.009; p>0.05).The
paper concluded that there is a high level of job insecurity among bank workers, especially those on contract appointment and
recommended : the need to harmonize the wage structure among both contract and permanent staff and to encourage trade
unionism in banks to protect the rights of workers