Impact of globalization on industrial relations in the Nigerian banking sector

Globalization had necessitated structural adjustments in the labour market at both the national and international levels that significantly affected labour relations. This study x-rayed the impact of globalization on industrial relations in the Nigerian commercial banking sector. Descriptive survey design was employed and stratified random sampling technique was used to select the study's sample. Simple percentage was used to analyze the research questions and Z-test was used to test the postulated hypothesis. The findings revealed that there was a significant relationship between globalization and industrial relations in the Nigerian commercial banking sector. Regarding the effect of parent country and host countries characteristics on industrial relations system in the sector, the study's findings showed that industrial relations system was skewed in favour of host national characteristics. The findings also established that there was decreased freedom of unions and decreased bargaining power of labour because of human resource outsourcing induced by globalization. This promoted the principles of individualism that inhibited the efficacy of collective bargaining and collective agreement. Finally, the study's findings indicated that there was ineffective enforcement of labour legislation as a result of outdated laws in Nigeria causing negative impact on the industrial relations system in global context. Based on the study's findings, it was recommended that industrial relations system in global context in the Nigerian banking sector should be pro-active by promoting bipartite and in some cases tripartite institutions and processes to establish appropriate labour policy and standards that would promote collectivism and harmonious work relations. Also, Nigerian legislature should amend provisions of the labour laws to meet global challenges.