While the primary source of income for banks worldwide is from interest earned on credit, loans

make up a larger portion of their assets. Consequently, revitalizing credit rationing, client
evaluation, debt collection, and credit monitoring are among the most important credit
management procedures to assure efficacy of loan performance. This will help commercial banks
secure maximum loan performance (Keeton & Morris, 2016). This has therefore made some of
MFIs to underperform in terms of giving out loans and credit since the commercial banks have
better ways of undertaking the process.

To ensure that staff members are able to stay competitive and productive inside the firm,
employee training should be conducted regularly to enhance their knowledge and abilities. Every
employee in every area must perform at a high level for any firm to gain a competitive
advantage. Training can be promoted as a major factor in enhancing an individual's performance
(Potts, 1998). In order to meet the organization's goals, training aims to equip workers with the
expertise and managerial skills necessary to meet future organizational needs.

According to a 2006 poll of local government pay and workforce performed by the United
Kingdom's Local Government Pay and Workforce, 87% of all authorities had trouble finding
qualified candidates. According to specific statistics, organizational development and change
management skills gaps were identified by 72% of councils, while business process
improvement and performance management skills gaps were reported by 61% and 60% of
councils, respectively. All of these abilities are essential for the government's continuous
modernization agenda. In this case therefore, the MFIs should look for workers with different
skills in order to promote the functioning of the institutions

The requirement for training is very great in MFIs because a lot of the workforce has diverse
abilities that must be swiftly developed to fulfill needs and cannot be learned via experience.
Take default management as an example. Training is necessary to guarantee that the personnel is
capable of carrying out their duties effectively. Acquiring the necessary abilities and expertise in
this field, which, if handled improperly, could result in legal disputes. Also, new hires receive
training on critical communication, presentation, problem-solving, and information technology
skills.