EFFECT OF GLOBALIZATION ON INDUSTRIAL RELATIONS IN THE NIGERIAN BANKING INDUSTRY

EFFECT OF GLOBALIZATION ON INDUSTRIAL RELATIONS IN THE NIGERIAN BANKING INDUSTRY

ABSTRACT

The study was on the effect of globalization on industrial relations in the Nigerian banking industry. The thrust of the study is the effect of globalization on industrial relations in the Nigerian banking industry. The objectives formulated were to ascertain the effects of globalization on industrial relations in the commercial banking industry in the South-South states of Nigeria and to determine the relationship between global integration and industrial relations in the commercial banking industry in the area to be studied; other objectives were to identify the basic needs of the industrial workers that have been induced by globalization in the commercial banking industry in the area to be studied and to find out if the Dunlopian model of industrial relations system in the context of globalization could be applied to industrial relations system in the commercial banking industry in the area studied. In pursuit of the objectives, a survey research was carried out in the area and the population used for the study was 7,122. Sample size of 532 was determined using infinite population size statistical formula (Chukwu, 2007). Data were collected using questionnaire and oral interview and thereafter tables and statistical tools (Z-test, Pearson product moment correlation coefficient and chi-square) were used for presentation and analysis respectively. Findings of the study indicated that globalization had a positive effect on industrial relations practices in the commercial banking industry. The study further discovered that there was a high positive relationship between global integration and industrial relations in the Nigerian banking industry, and the Dunlopian model of industrial relations in the context of globalization significantly fit into industrial relations system in the Nigerian commercial banking industry. The findings also revealed that international trade affected industrial peace in the context of globalization. Based on the study’s findings, the study thus concluded that industrial relations in Nigeria commercial banks had benefited immensely from globalization and the Dunlopian model of industrial relations could be effectively applied to industrial relations system in Nigerian commercial banks. The study recommended that while encouraging global integration of industrial relations in the commercial banking industry, management and other stakeholders in the industry apply the integration dimensions with respect to the Nigerian environment.