Maximization of Organizational Resources For Innovation Rate of Selected Microfinance Banks In Kwara State

Abstract

Organizational resources are now considered essential in promoting innovation and gaining a competitive advantage in today's business environment, especially in microfinance banks, where high employee turnover is known to impede innovative processes. Despite the increased trend of digital usage, the rational distribution of resources is still limited in promoting human resource analytics in innovation processes. The provisioning of resources and analytical acumen are still low, which limits gaining insight into employee turnover and engagement. This study aims to evaluate the impact of organizational resource distribution on innovation outputs within the context of human resource analytics in microfinance banks in Kwara State, Nigeria. The impact of provisioning and analytical acumen on innovation outputs, as measured by employee turnover, was specifically assessed. A quantitative research design was utilized in this research work, and a cross-sectional survey design was adopted. Data collection involved a survey of microfinance bank employees in Ilorin, Kwara State. A population of 354 staff members of fifteen microfinance banks in Ilorin, Kwara State, constituted the population of this research work. Simple random sampling techniques were utilized to extract a sample of 184 respondents. Structured questionnaires were utilized to obtain primary data, and multiple regression analysis techniques were utilized in analyzing the data. Resource provisioning significantly and positively influences innovation performance (â = 0.283, p < 0.001), and analytical acumen significantly influences innovation performance (â = 0.321, p < 0.001). A moderate relationship existed between resource provisioning and innovation performance (R = 0.612), and the regression model showed that 37.5% of innovation output is explained by independent variables (R² = 0.375). Resource provisioning and analytical acumen, backed up by HR analytics tools, are vital in curbing attrition, boosting engagement, and facilitating innovation in microfinance banks. And the study recommends that Long-term investments in technologically sophisticated systems are recommended..