Abstract
Nigeria commercial banks mostly apply high salary payment as a means of staff motivation and compensating while neglecting the importance of non-salary compensation such as, staff bonuses, health insurance/medical scheme, staff trainings, functional pension plans, among others. This leads to disparity of salary and wages within the same firms and even across the industry. The consequences are, high staff turnover, poor deposit mobilization, high portfolio at risk, liquidity crises and poor financial performance. The study was motivated by this development to examine human resources accounting practices and deposit mobilization of commercial banks in Nigeria. The specific objectives of the study are, Retirement Benefits (RTB), Employees Benefits Scheme (EPB) and Employees Bonus (EPB) are the independent variables and measures of non-salary compensation while Total Deposit (TDP) is the dependent variable and proxy for deposit mobilization. The sample consists of five (5) deposit money banks listed on Nigeria Exchange Group during the period of 2011- to 2023 periods. Time series data obtained from the annual financial statement of the selected banks were analysed using Panel Least Square Regression Analysis. Results of analysis show that RTB and EPB positively and, but non-significantly affect Total Deposits (TDP) of the deposit money bank in Nigeria while EP positive and significant effect Total Deposits (TDP) of the banks during the period. Consequently, the study concludes that non-salary compensation are crucial for commercial banks deposit mobilization. Accordingly, the study recommends that managements of deposit money banks in Nigeria should enforce effective compensation plans to reward performance, loyalty, experience, responsibility, and other behaviors. The study also recommends that managements of deposit money banks should introduce generous benefits like post-retirement medical treatment, regular promotion, job security as a tool for retaining talents. The study finally recommends that apart from the salaries paid, employees of deposit money banks should be eligible for a fixed percentage of bonuses upon achievement of fixed target of performance.
Keywords: Human Resources, Accounting, Practices, Deposit Mobilization, Commercial Banks