Human Resource Demand Forecast and Resilience of Multinational Oil and Gas Producing Companies in Nigeria
DOI:
https://doi.org/10.53819/81018102t2278Abstract
The purpose of this paper was to analyze the interrelationship betwixt personnel demand forecast with resilience of international oil refining industry in West Africa, Nigeria. Cross sectional survey was the research design adopted. Since this study is a macro level study where only the executives of the international oil refining industry can provide information pertaining to this study, the researcher studied all five (5) international oil refining industry in Nigeria. Therefore, all five (5) international oil refining industry was the population and the executives who are fifty-two (52) in number with pertinent information relating to this study were the sample size census was adopted making the fifty-two (52) managers the respondents of this study. Because this study is a quantitative study, structured questionnaire was the instrument used in generating the primary data and Cronbach Alpha of 0.7 was adopted as the reliability bench mark. This analysis was aided with the use of the Statistical Packages for Social Sciences (SPSS) version 26.0. Spearman Rank Order Correlation Coefficient was adopted as the statistical tool used in ascertaining the degree and level of relationship in the hypotheses. The findings obtained from this study indicated a positive correlation between human resource demand forecast and resilience of international oil refining industry in Nigeria. The results revealed that human resource demand forecasting significantly impacted on all two measures of corporate resilience (adaptability and dynamic capability). Relying on the findings obtained from this study, the researcher recommends that to become resilient, personnel managers in the international oil refining industry ought to engage and partake more in human resource demand forecasting, as this is to enable and aid, boost and shore up organizational dexterity. For a corporation to sustain itself, continue to be in business, perform better and survive, it first of all has to be resilient.
Key words: Adaptability, Dynamic Capability, Human Resource Demand Forecast, Resilience.
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