We might perhaps begin with an acknowledgement of the fact that capitalism is on the ropes all over the world. The observation by the one time British Prime Minister Ted Heath on the “ugly and unacceptable face of capitalism” , following the indiscretions of Tiny Rowlands in relation to the management of Lonrho in the 1970s may appear today somewhat feeble and tepid in the light of the trauma that capitalism has been enduring in the recent pass. The Global crisis of capitalism which has since come to be described as the “the global meltdown”, has necessitated the re-invention or re-configuration of the capitalist system if it not to expire. Whether it is called a stimulus, bailout, or recovery package, the truth of the matter is that throwing money at the current crisis without interrogating and identifying its underlining causes can only guarantee temporary relief (Oyebode 2009).
The whole world is thrown into a state of confusion and gloom because of board schecism and corporate abracatadabra. The bottom line of the problem is that we have failed to embrace corporate governance. The issue of recruitment has also been lopsided.
Without much ado, with all the recent happenings in our corporate world and the national economy we are left with no other choice than the weapon of corporate governance and recruitment that will see merit above mediocrity.
1. STATEMENT OF PROBLEM
The issue of corporate governance and Human Resource Management has gained prominence in the world of work over the time because of its importance and its effect in the neglect (Oyebode 2009). We do not need go far before we see the menace of the neglect of this two great weapon. Bad Human Resources Management has killed a lot of company. Lack of good corporate governance has made a lot of organization to buckle under. They have failed to rise up where others have risen.
Corporation creates jobs, generate tax income, produce a wide array of goods and services at reasonable prices, and increasingly manage our savings and secure our retirement income. Amid growing reliance worldwide on the private sector, the issue of corporate governance has similarly risen in prominence. The recent financial crises all over the world and particular in our industries have made amply clear why the issues of transparency and accountability in corporate governance are so important to investors confidence and to overall national economic performance.
Avil (1998) said before you can get good corporate governance in an organization, the organization must be filled with the right people, in the right mix and at the right time, doing the right job always. He therefore linked corporate governance with personnel management. Human Resources Management itself is the branch or function of management that is responsible for identifying workers, attracting and getting such workers to join and stay in the organization, placing them in suitable position, motivating them, remunerating them and helping them to work together and to grow.
Obasan (2002) concluded that for an organization to be what it ought to be , both corporate governance and Human Resources Management must work synergetic ally. Ekpeyong (2004) said one key element in improving economic efficiency and organization productivity is corporate governance, which involves a set of relationships between a company’s management, its Board, Shareholders and other stakeholders.
2. RESEARCH QUESTION
The research question of the study will include:
• What is good corporate governance?
• What is Human Resource Management?
• What is the nexus between corporate and Human Resource Management?
• How do you measure national development and economic growth?
• Does corporate governance and Human Resource Management enhance productivity and...