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African Boards of Directors should possess the following TECHNICAL SKILLS for best performance:
 
  1. Financial Literacy: Understanding financial statements, budgeting, and financial reporting.
  2. Strategic Planning: Developing and implementing strategic plans, setting goals and objectives.
  3. Risk Management: Identifying, assessing, and mitigating risks, ensuring compliance with regulations.
  4. Governance and Compliance: Understanding governance structures, ensuring compliance with laws and regulations.
  5. Digital Literacy: Understanding digital technologies, leveraging technology for business growth.
  6. Data Analysis and Interpretation: Interpreting data, making informed decisions, driving business growth.
  7. Cybersecurity: Understanding cybersecurity risks, implementing measures to protect against cyber threats.
  8. Environmental and Social Impact: Understanding environmental and social impact, ensuring sustainable practices.
  9. Human Resources Management: Understanding HR best practices, ensuring effective talent management.
  10. Industry Knowledge: Staying up-to-date with industry trends, developments, and best practices.
  11. Communication and Interpersonal Skills: Effective communication, building strong relationships with stakeholders.
  12. Leadership and Collaboration: Demonstrating leadership, building collaborative teams, driving business growth.
  13. Innovation and Entrepreneurship: Encouraging innovation, driving entrepreneurship, and business growth.
  14. Global Perspective: Understanding global markets, trends, and best practices.
  15. Continuous Learning: Committing to ongoing learning, professional development, and staying current with industry trends.

By possessing these technical skills, African Boards of Directors can drive business growth, ensure effective governance, and create long-term value for stakeholders.


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Risk Considerations:
 
  1. Regulatory and Compliance Risks: Evolving regulations, licensing issues, and product standards.
  2. Supply Chain Disruptions: Raw material shortages, logistics challenges, and supplier insolvency.
  3. Market and Competition Risks: Intense competition, market saturation, and changing consumer preferences.
  4. Operational Risks: Equipment failures, accidents, and maintenance challenges.
  5. Currency and Economic Risks: Currency fluctuations, inflation, and economic instability.
  6. Security Risks: Theft, vandalism, and sabotage.
  7. Environmental and Social Impact: Environmental degradation, community displacement, and social unrest.
  8. Talent Management Risks: Attracting and retaining skilled employees.
Mitigants:
 
1. Regulatory and Compliance Risks:
    – Engage with regulators and industry associations.
    – Ensure compliance with regulatory requirements.
 
2. Supply Chain Disruptions:
    – Diversify suppliers and develop contingency plans.
    – Implement supplier risk management programs.
 
3. Market and Competition Risks:
    – Differentiate through innovative products and services.
    – Focus on customer retention and loyalty programs.
 
4. Operational Risks:
    – Implement robust safety protocols and emergency response plans.
    – Invest in employee training and development.
 
5. Currency and Economic Risks:
    – Diversify revenue streams across countries and currencies.
    – Implement hedging strategies to manage currency risk.
 
6. Security Risks:
    – Implement robust security measures, including surveillance and access controls.
    – Engage with local authorities and security experts.
 
7. Environmental and Social Impact:
    – Develop and implement environmental and social impact assessments.
    – Engage with local communities and stakeholders.
 
8. Talent Management Risks:
    – Offer competitive compensation and benefits packages.
    – Develop training and development programs.
 
 
Additional Mitigants:
 
1. Develop a comprehensive risk management framework.
2. Conduct regular risk assessments and reviews.
3. Implement a robust compliance program.
4. Foster a culture of innovation and continuous improvement.
5. Develop strategic partnerships and collaborations.
6. Engage with stakeholders, including customers, investors, and regulators.
 

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Risk Considerations:
 
  1. Regulatory and Political Risks: Evolving regulatory environments, political instability, and government interventions.
  2. Infrastructure Risks: Aging infrastructure, transmission and distribution losses, and capacity constraints.
  3. Fuel and Energy Supply Risks: Dependence on imported fuels, price volatility, and supply chain disruptions.
  4. Operational Risks: Accidents, equipment failures, and maintenance challenges.
  5. Environmental and Social Impact: Environmental degradation, community displacement, and social unrest.
  6. ]Financial Risks: Currency fluctuations, inflation, and revenue collection challenges.
  7. Cybersecurity Threats: Data breaches, hacking, and ransomware attacks.
 
Mitigants:
 
1. Regulatory and Political Risks:
    – Engage with governments and regulators to shape policy and advocate for favorable regulations.
    – Ensure compliance with regulatory requirements through robust internal controls.
 
2. Infrastructure Risks:
    – Invest in modernizing and expanding infrastructure.
    – Implement maintenance and asset management programs.
 
3. Fuel and Energy Supply Risks:
    – Diversify fuel sources and energy supplies.
    – Implement hedging strategies to manage price volatility.
 
4. Operational Risks:
    – Implement robust safety protocols and emergency response plans.
    – Invest in employee training and development.
 
5. Environmental and Social Impact:
    – Develop and implement environmental and social impact assessments.
    – Engage with local communities and stakeholders to address concerns.
 
6. Financial Risks:
    – Diversify revenue streams across countries and currencies.
    – Implement hedging strategies to manage currency risk.
 
7. Cybersecurity Threats:
    – Implement robust cybersecurity measures, including threat detection and incident response plans.
    – Conduct regular security audits and penetration testing.
 
 
Additional Mitigants:
 
1. Develop a comprehensive risk management framework.
2. Conduct regular risk assessments and reviews.
3. Implement a robust compliance program.
4. Foster a culture of safety and responsibility.
5. Develop strategic partnerships and collaborations.
6. Engage with stakeholders, including local communities, investors, and customers.
 

By understanding these risk considerations and implementing effective mitigants, boards in the power sector in Africa can minimize risks and drive long-term success.


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Risk Considerations:

  1. Cybersecurity Threats: Data breaches, hacking, and ransomware attacks.
  2. Regulatory and Compliance Risks: Evolving regulations, licensing issues, and data protection concerns.
  3. Infrastructure Risks: Power outages, internet connectivity issues, and infrastructure gaps.
  4. Talent Management Risks: Attracting and retaining skilled employees in a competitive market.
  5. Intellectual Property Risks: Protecting proprietary technology and innovations.
  6. Market and Competition Risks: Intense competition, market saturation, and rapidly changing technologies.
  7. Currency and Economic Risks: Currency fluctuations, economic instability, and inflation.
Mitigants:
 
1. Cybersecurity Threats:
    – Implement robust cybersecurity measures, including threat detection and incident response plans.
    – Conduct regular security audits and penetration testing.
 
2. Regulatory and Compliance Risks:
    – Engage with regulators and industry associations to shape policy and advocate for favorable regulations.
    – Ensure compliance with regulatory requirements through robust internal controls.
 
3. Infrastructure Risks:
    – Invest in backup power systems and redundancy measures.
    – Partner with reliable infrastructure providers.
 
4. Talent Management Risks:
    – Offer competitive compensation and benefits packages.
    – Develop training and development programs.
 
5. Intellectual Property Risks:
    – Develop and implement robust IP protection policies.
    – Conduct regular IP audits.
 
6. Market and Competition Risks:
    – Differentiate through innovative products and services.
    – Focus on customer retention and loyalty programs.
 
7. Currency and Economic Risks:
    – Diversify revenue streams across countries and currencies.
    – Implement hedging strategies to manage currency risk.
 
Additional Mitigants:
 
1. Develop a comprehensive risk management framework.
2. Conduct regular risk assessments and reviews.
3. Implement a robust compliance program.
4. Foster a culture of innovation and continuous improvement.
5. Develop strategic partnerships and collaborations.
6. Engage with stakeholders, including customers, investors, and regulators.
 
By understanding these risk considerations and implementing effective mitigants, boards in the technology sector in Africa can minimize risks and drive long-term success.
 

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Risk Considerations:
  1. Regulatory and Political Risks: Evolving regulatory environments, political instability, and government interventions.
  2. Operational Risks: Accidents, spills, equipment failures, and security breaches.
  3. Environmental and Social Impact: Environmental degradation, community displacement, and social unrest.
  4. Economic and Market Risks: Volatile oil prices, currency fluctuations, and market demand shifts.
  5. Security Risks: Terrorism, piracy, and civil unrest.

Mitigants:

1. Regulatory and Political Risks:
    – Engage with governments and regulators to shape policy and advocate for favorable regulations.
    – Ensure compliance with regulatory requirements through robust internal controls.
2. Operational Risks:
    – Implement robust safety protocols and emergency response plans.
    – Invest in modernizing and maintaining infrastructure.
3. Environmental and Social Impact:
    – Develop and implement environmental and social impact assessments.
    – Engage with local communities and stakeholders to address concerns.
4. Economic and Market Risks:
    – Diversify revenue streams and investments.
    – Implement hedging strategies to manage price volatility.
5. Security Risks:
    – Implement robust security measures, including surveillance and access controls.
    – Engage with local authorities and security experts to stay informed.
 
Additional Mitigants:
 
1. Develop a comprehensive risk management framework.
2. Conduct regular risk assessments and reviews.
3. Implement a robust compliance program.
4. Foster a culture of safety and responsibility.
5. Develop strategic partnerships and collaborations.
6. Invest in employee training and development.
7. Engage with stakeholders, including local communities, investors, and customers.
 
By understanding these risk considerations and implementing effective mitigants, boards in the oil and gas sector in Africa can minimize risks and drive long-term success.

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Digital transformation is increasingly essential for federal and state governments in Africa due to its potential to address key challenges and drive socio-economic development. 

1. Improved Service Delivery and Accessibility

Enhanced Public Services: Digital transformation allows governments to improve the quality, efficiency, and reach of public services, making them more accessible to citizens, even in remote areas. E-governance platforms enable citizens to access services like healthcare, education, tax filing, and social security benefits online.

Citizen-Centric Services: By digitizing services, governments can shift towards a more citizen-focused approach, reducing bureaucratic delays and eliminating inefficiencies in service delivery. Online portals and mobile applications offer round-the-clock access to services, cutting down on time and travel costs.

2. Increased Transparency and Accountability

Fighting Corruption: Digital systems reduce human intervention, decreasing opportunities for corruption. E-procurement, for example, can automate the bidding process, ensuring fairness and transparency in government contracts.

 Real-Time Monitoring: Digital tools provide governments with real-time data on projects, budgets, and public services, increasing oversight and enabling better decision-making. It also allows citizens to track government initiatives, improving trust between the public and the state.

  1. Economic Growth and Innovation

Stimulating the Digital Economy: A digital transformation strategy can help governments foster the growth of tech ecosystems and digital industries. This creates new jobs, attracts foreign investment, and opens up new economic opportunities, especially in sectors like fintech, e-commerce, and mobile communications.

Support for SMEs: Digital platforms help small and medium-sized enterprises (SMEs) gain access to markets, government contracts, and financial services, boosting local economies and reducing poverty.

4. Efficiency in Governance and Cost Reduction

Streamlining Government Operations: Digital systems can help governments reduce costs by automating routine tasks, improving workflow management, and minimizing paperwork. This is crucial for governments with limited budgets.

Resource Optimization: Digital technologies, such as cloud computing, data analytics, and AI, enable governments to optimize resource allocation, ensuring that scarce resources like healthcare, water, and electricity are efficiently distributed based on real-time demand.

5. Inclusion and Bridging the Digital Divide

Access to Underserved Communities: In many African countries, large portions of the population live in rural areas with limited access to government services. Digital platforms, powered by mobile technology, can bring essential services to these communities, helping to bridge the gap between urban and rural areas.

Empowering Marginalized Groups: Digital transformation can empower women, youth, and other marginalized groups by providing them access to education, employment, and financial services through digital platforms.

  1. Data-Driven Decision Making

Enhanced Policy Making: Digital tools provide governments with valuable data and insights to improve policy design and implementation. With real-time data analytics, governments can make informed decisions, track progress, and adjust strategies based on measurable outcomes.

Disaster and Crisis Management: Digital technologies help governments respond more effectively to natural disasters, public health crises, and emergencies by using early warning systems, data collection tools, and communication platforms to coordinate efforts and allocate resources.

7. Building Resilience and Adaptability

 Resilience to External Shocks: Digital transformation enhances government resilience in times of crisis. For example, during the COVID-19 pandemic, many African governments that had invested in digital infrastructure were better able to transition to remote work, implement digital learning, and ensure continuous delivery of services.

Adaptability to Technological Change: As new technologies like artificial intelligence, blockchain, and the Internet of Things (IoT) continue to evolve, digital transformation positions African governments to adopt these innovations and integrate them into governance processes.

8. Boosting Public Participation and Engagement

increased Civic Engagement: Digital platforms, such as social media, mobile apps, and websites, allow citizens to engage with their governments more easily, participate in policy discussions, and provide feedback. This fosters a more open and participatory governance model.

Inclusive Policy Development: Governments can use digital tools to collect input from citizens, ensuring that policies reflect the needs of the population. Public consultations can be conducted online, making the process more inclusive and reaching a wider audience.

9. Enhancing National Security and Data Protection

Cybersecurity and Data Management: As governments digitize, they need to strengthen their cybersecurity infrastructure to protect sensitive data, prevent cyberattacks, and ensure the integrity of their systems. Digital transformation includes investing in secure, reliable digital infrastructure to safeguard national interests.

Cross-Border Cooperation: Digital transformation also enables better coordination with neighboring countries on issues like border security, regional trade, and combating transnational threats such as terrorism and trafficking.

10. Supporting Sustainable Development Goals (SDGs)

Accelerating SDG Progress: Many African governments are committed to achieving the UN Sustainable Development Goals (SDGs). Digital transformation is a key enabler of this, particularly in areas like education (SDG 4), healthcare (SDG 3), economic growth (SDG 8), and reduced inequalities (SDG 10).

Environmental Sustainability: Digital tools can support sustainability efforts by improving environmental monitoring, energy efficiency, and natural resource management.

In conclusion, digital transformation is not just an option but a necessity for African federal and state governments. It enables more efficient governance, fosters economic growth, enhances public trust, and improves the quality of life for citizens across the continent.

FURTHER ENQUIRIES, CALL: +234 812 902 3329 (Charity) | +234 802 056 5056 (Ayo)


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Achieving culture change in public institutions can be challenging due to their size, hierarchical structures, and the complexity of their missions. However, with a thoughtful approach, it’s possible to shift behaviors, attitudes, and mindsets to create a more adaptive and dynamic organizational culture. 

  1. Strong Leadership Commitment

  • Role Modeling: Leaders must demonstrate the desired cultural values in their daily actions and decision-making. Leadership commitment sets the tone for the entire organization.
  • Vision and Clarity: Leaders should clearly articulate why culture change is necessary, outlining a compelling vision that aligns with the institution’s mission and public service objectives.
  1. Engage Employees at All Levels

  • Involve Employees in the Process: For culture change to stick, employees at all levels should feel involved in shaping the new culture. This can be achieved through workshops, focus groups, or participatory planning sessions.
  • Identify Change Champions: Empower individuals within the organization who naturally embrace the new cultural values to act as ambassadors, influencing others and spreading the desired behaviors.
  1. Alignment of Policies and Incentives

  • Review Organizational Policies: Ensure that all institutional policies, performance metrics, and incentives are aligned with the desired cultural values. For example, if collaboration is a core value, performance reviews should reward teamwork rather than individual accomplishments.
  • Redesign Reward Systems: Public institutions should ensure that both formal and informal rewards (e.g., promotions, recognition, development opportunities) are designed to reinforce the desired cultural attributes.
  1. Training and Capacity Building

  • Skill Development: Provide training that builds the necessary skills to support the culture change, such as leadership development, emotional intelligence, diversity training, and change management skills.
  • Continuous Learning: Create an environment where learning is encouraged, and employees are given the tools and resources to adapt to new ways of working.
  1. Communication and Transparency

  • Clear, Consistent Communication: Communicate the vision for culture change consistently and transparently. Use multiple channels to ensure the message reaches all employees.
  • Two-Way Communication: Encourage feedback and open dialogue. Leaders should listen to employee concerns and ideas, making adjustments where necessary.
  1. Focus on Small Wins and Gradual Progress

  • Pilot Projects: Start with small, manageable initiatives that can showcase the positive impacts of the cultural shift. Success in these areas builds momentum and demonstrates the feasibility of broader change.
  • Celebrate Milestones: Recognize and celebrate early successes and improvements to keep morale high and reinforce the message that change is possible.
  1. Sustain the Change with Accountability Mechanisms

  • Tracking Progress: Establish clear metrics to track culture change efforts. These could include employee engagement surveys, customer satisfaction ratings, or internal collaboration levels.
  • Continuous Reinforcement: Embed the desired cultural behaviors into everyday processes, from recruitment to daily operations. Leaders should continually reinforce the values through their actions and the decisions they make.
  1. Foster a Culture of Innovation and Adaptability

  • Encourage Risk-Taking: Shift from a culture of risk aversion (common in public institutions) to one that supports experimentation and innovation. Create safe spaces for trying new approaches without fear of negative repercussions.
  • Adapt and Evolve: Public institutions should be prepared to adapt the culture change plan based on what works and what doesn’t. Flexibility is essential as culture change is not a one-time event but an ongoing process.

By applying these approaches, public institutions can gradually shift their organizational culture to one that is more innovative, responsive, and aligned with modern governance challenges.

FURTHER ENQUIRIES, CALL: +234 812 902 3329 (Charity) | +234 802 056 5056 (Ayo)


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Strategy activation in public organizations is crucial for turning strategic goals into actionable initiatives that deliver measurable outcomes. 
 
  1. Alignment with Public Policy and Regulations

    Public organizations operate within a framework of laws, regulations, and policies. Strategy activation must align with governmental priorities, legislative mandates, and public sector values. This ensures that initiatives not only meet organizational goals but also contribute to broader societal objectives.

  2. Stakeholder Engagement is Key

    Public organizations often serve diverse stakeholders, including citizens, elected officials, and other government bodies. Engaging these stakeholders early and continuously throughout the strategy activation process is essential to ensure buy-in, address concerns, and adapt strategies to meet the needs of different groups.

  3. Resource Allocation and Constraints

    Unlike private organizations, public entities often face tighter budgetary constraints and rigid funding structures. Effective strategy activation requires realistic resource planning, optimizing limited resources, and prioritizing initiatives to align with available funding and workforce capacity.

  4. Accountability and Transparency

    Public organizations are held to higher standards of accountability and transparency. Strategy activation must incorporate mechanisms for regular reporting, performance tracking, and public communication. This ensures that progress is visible and that the organization is accountable for delivering on its strategic goals.

  5. Change Management and Cultural Adaptation

    Implementing a strategy in the public sector often requires significant organizational change. Public organizations may face resistance due to deeply embedded processes, workforce structures, and cultures. Effective change management, including training, communication, and leadership support, is vital to ensure that the organization can adapt and fully activate the strategy.

 
Each of these elements plays a critical role in ensuring that strategy moves beyond planning and into effective execution in the public sector context.

FURTHER ENQUIRIES, CALL: +234 812 902 3329 (Charity) | +234 802 056 5056 (Ayo)

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1. Improved Decision-Making

  • Benefit: Provides a structured approach to identifying, assessing, and managing risks, leading to more informed and strategic decision-making.
  • Details: By understanding potential risks and their impacts, public sector leaders can make decisions that are more aligned with the organization’s objectives and risk tolerance.

2. Enhanced Accountability and Transparency

  • Benefit: Promotes greater accountability and transparency in managing public resources and operations.
  • Details: ERM frameworks often include robust reporting and monitoring mechanisms that help ensure that risk management practices are transparent and that stakeholders are informed.

3. Increased Resilience to Disruptions

  • Benefit: Enhances the organization’s ability to anticipate, respond to, and recover from unexpected events and crises.
  • Details: By proactively identifying risks and developing mitigation strategies, public sector organizations can better handle disruptions and maintain continuity of services.

4. Optimized Resource Allocation

  • Benefit: Helps prioritize and allocate resources more effectively based on risk assessments and potential impacts.
  • Details: ERM enables organizations to focus resources on high-priority risks and areas that require the most attention, leading to more efficient use of public funds.

5. Enhanced Compliance and Legal Risk Management

  • Benefit: Aids in ensuring compliance with regulations, laws, and policies, thereby reducing legal risks.
  • Details: ERM systems help organizations stay informed about regulatory requirements and implement controls to comply with them, minimizing the risk of legal and regulatory penalties.

6. Better Strategic Planning and Execution

  • Benefit: Supports strategic planning by integrating risk management into the strategic planning process.
  • Details: ERM helps align risk management with strategic goals, allowing organizations to better anticipate challenges and opportunities and incorporate risk considerations into their strategic plans.

7. Improved Public Trust and Confidence

  • Benefit: Builds trust with the public by demonstrating a proactive approach to managing risks and ensuring accountability.
  • Details: Effective risk management practices can enhance the public’s confidence in the organization’s ability to manage public resources responsibly and deliver services effectively.

8. Enhanced Operational Efficiency

  • Benefit: Identifies and mitigates risks that could impact operational efficiency and effectiveness.
  • Details: By addressing potential operational risks, public sector organizations can streamline processes, reduce inefficiencies, and improve overall performance.

9. Proactive Risk Identification and Mitigation

  • Benefit: Facilitates the early identification of risks and the development of mitigation strategies before risks materialize into issues.
  • Details: ERM frameworks provide tools and methodologies for identifying emerging risks and developing plans to address them proactively, rather than reacting to issues after they arise.

10. Strengthened Stakeholder Engagement and Communication

  • Benefit: Enhances engagement with stakeholders by providing clear communication about risk management practices and outcomes.
  • Details: Effective ERM involves communicating risk management strategies and outcomes to stakeholders, fostering better relationships and ensuring that stakeholders are informed and engaged.
FURTHER ENQUIRIES, CALL: +234 812 902 3329 (Charity) | +234 802 056 5056 (Ayo)

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When it comes to attracting and keeping the best people, money matters. You can give employees all the free snacks, happy hours and wellness perks imaginable, but if they feel they’re being unfairly paid? They’re not likely to stick around for long. With the ongoing Great Resignation causing a mass exodus of talent and salary data becoming increasingly accessible, getting remuneration right is more important now than ever. So, in this post, let’s deep dive into how compensation strategies can help you attract and retain your most valuable asset – a top team.

Attracting Top Talent

We can’t undermine the role of compensation strategy in attracting and hiring the best talent. With pay transparency laws cropping up across the globe and the rise in salary-comparison sites like Glassdoor, potential candidates are screening salaries before even clicking on ‘apply’.

In fact, in a recent survey conducted by LinkedIn, 91% of U.S.-based respondents said that they wanted to see salary ranges in job posts. To do this, organizations need to establish a watertight remuneration structure that they’re happy to have out in the open. Carefully assessed pay bands are essential if – or perhaps when – salary ranges become mandatory in your region.

As well as getting people into the interview room, compensation also comes into play to seal the deal on a fantastic candidate. When a candidate is weighing up multiple job offers, compensation packages are going to play a huge role in their decision making process. For some, money is the deciding factor.

And it’s important to remember that compensation is about much more than the figure that appears in an employee’s account each month. Potential applicants are also going to be weighing up bonuses, incentives and other perks that will impact their finances. 

Ultimately, attractive, competitive compensation demonstrates that a company recognizes and values the skills, experience, and contributions of its employees. It sends a clear message that the organization is willing to invest in its workforce and reward them for their hard work.

Retaining Your Best People 

If you want your organization to thrive, you need to keep hold of your best people. In 2023, retention is more difficult than ever. In fact, three-quarters of nearly 7,000 respondents said they planned to look for a new job over the next 12 months. The primary reason why 67% of these respondents were looking to jump ship? Unsatisfactory pay.

The bottom line is, when employees feel well-compensated, they’re less likely to explore other job opportunities. This means that organizations must make sure they’re regularly benchmarking their own compensation packages against competitors, as well as ensuring that they’re maintaining equity within their own organization.

Talking about what we earn is becoming noticeably less hush hush, whilst platforms like Glassdoor make it easy for employees to see what they could be getting paid elsewhere. Armed with this knowledge, even the most engaged employee will feel disgruntled if they discover that they’re being paid below market value.

Equally, a consistent, equitable salary structure is vital to avoid employees feeling like they’re being shortchanged or undervalued. An objective job evaluation system will ensure fair pay across the board, as well as providing an objective framework that can be openly and easily explained to staff if questions arise.

As organizations know all too well, high turnover is disruptive and eye-wateringly expensive. To thrive long-term, it’s essential to retain the expertise that comes from investing in training and development.


Source: getradar.com


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