4.5. SUMMARY OF FINDINGS AND DISCUSSION
MFIs are still growing. While it was found that they barely
headhunt, they often target fresh graduates but often hire senior six leavers,
whom they will train on - on the job or train off the - job when there is
support from partners who include CGAP, AQUADEV, TROCAIRE, TERAFINA and
AMIR.
22 Interview with anonymous manager at IMF UNGUKA
SA
23 Interview with anonymous manager at DUTERIMBERE IMF
SA
24 Anonymous interviewee from AMIR
Though there is teamwork and quality of supervision, MFIs have
challenges realistically measuring performance. This leads to poor management
of promotions, though in some cases, employers put in place internal mobility
of the staff, which yielded positive results.
They also have ambitious business plans. However, they are
influenced by external factors which include government and competition in the
labor market.
CHAPTER FIVE: CONCLUSIONS, RECOMMENDATIONS
AND
FURTHER RESEARCH
5.1. INTRODUCTION
This study problem statement was based on the concern that the
microfinance sector in Rwanda has many promises to help the poor access
financial services, yet MFIs have recently known erosion of customer trust
because of lack of professionalism and enough human capital base. The research
objective was to investigate the capacity of MFIs to attract and retain
skillful employees.
To achieve this research objective, various methods were used.
These include primary data and secondary data. Secondary data were collected
from textbooks, articles, reports and policy documents. Primary data were
collected from MFI Managing Directors, Human Resource Managers, the focus group
interviewed and employees. Out of 96 licensed MFIs in Rwanda, out of which 83
cooperatives (COOPEC), 2 private liability companies (SARL) and 11 public
liability companies (SA), 2 MFIs of the SA type were studied, 20 were
interviewed.
5.2. CONCLUSION
After analyzing the data gathered using various tools above, the
research came up with the following findings:
MFIs operators suffer from shortage of funds. This is
responsible of poor work environment, lack of facilities, poor training
management, poor ventilation; poor chairs etc among other consequences, a
considerable number of employees would like to seek other employment
opportunities as soon as they have opportunities. The sector's popularity and
level of pay play a lesser role in retaining employees unlike lack of clarity
in the career path.
The major research objective was to investigate the human
capital management challenges and prospects of Rwandan MFIs. In line with that
specific objectives were to study the MFIs' capacity to attract skillful
employees; to analyze the MFIs' capacity to retain skillful employees and
finally to investigate whether there are external factors that influence MFIs'
capacity to attract and retain skillful employees. Using the following
questions, one may know whether research objectives have been met:
Can MFIs attract skillful employees? MFIs have
less capacity to attract skillful employees. They often attract fresh graduates
with no experience whatsoever.
Can MFIs retain skillful employees? Their low
capital base makes it that they are not good at providing to the employees
expectation. Among other things, they cannot train seriously, their paycheck is
weak, their career path is not clear. However, MFIs where many employees are
shareholders tend to make a difference.
Are there external factors that influence MFIs'
capacity to attract and retain skillful employees? There are different
forces. Major ones are lack of local resource people in microfinance and tough
competition in the labor market where competitors are stronger.
Having answered to the above questions, then the research
objectives have been addressed.
| 
