Labour Supply Fluctuations and Workforce Agility: Developing an Innovative HRM Framework for Workforce Efficiency in Deposit Money Banks Operating in Rivers State

This study examined the relationship between Labour Supply Fluctuations and Workforce Agility: Developing an Innovative HRM Framework for Workforce Efficiency in Deposit Money Banks Operating in Rivers State. The study was guided by three research objectives and hypotheses and anchored on the Dynamic Capabilities Theory and Human Capital Theory. The study employed correlational and cross-sectional survey research designs. The population comprised eighty-four companies, Deposit Money Banks operating in Rivers State. Due to the manageable population size, Census sampling technique was adopted, while purposive sampling was used to select 84 managerial respondents consisting of three managers each from the companies. Data were collected using a structured questionnaire, while validity was confirmed by academic supervisors; reliability was confirmed using Cronbach’s Alpha coefficients above 0.70. Out of 84 questionnaires administered, 75 usable copies were retrieved and used for the analysis with the aid of SPSS version 27.0. Spearman Rank Order Correlation Coefficient and partial correlation analysis were used to test the hypotheses. Findings revealed that there is a positive relationship between Labour Supply Fluctuations and Workforce Agility in Deposit Money Banks operating in Rivers State. The study concluded that Labour Supply Fluctuations significantly improve Workforce Agility. The study recommended that Deposit Money Banking companies should adopt and incorporate workforce forecasting, skills inventory, flexible staffing, and employee reskilling and upskilling, talent retention, job rotation, succession planning, and workforce redeployment to prevent shortages of employees in the system.