Why organisations should invest in technology, rework employee compensation strategy

Mrs Toki Mabogunje, the Vice Chair of Africa at the World Chamber of Federation, has outlined the reasons organisations should invest in technology and revise employee strategies to redefine the future of work in Nigeria.

She emphasized that the future of work was already shifting before the COVID-19 pandemic, which then accelerated trends such as remote work and the geographical diversity of teams.

During her presentation on the topic “Redefining the Future of Work: Managing the Unfolding Realities” at the 21st Annual Conference of the Oyo State branch of the Chartered Institute of Personnel Management (CIPM) held in Ibadan, Mabogunje highlighted that the pandemic expedited the adoption of digital technologies, including automation and artificial intelligence (AI).

She stressed the importance of developing a digital transformation strategy to maintain competitiveness and ensure long-term success.

Mabogunje, who served as the guest speaker at the event, suggested that HR managers need to adopt a more strategic approach to attracting new talents by introducing attractive compensation packages for employees.

She also emphasized the need to make work more meaningful for employees and urged organizations to rethink their corporate responses to counter the effects of fuel subsidy reductions in the current economic situation.

Olusegun Mojeed, the National President of CIPM, echoed the importance of redefining the future of organizations through the introduction of technology and global employees.

He highlighted the significance of remote or hybrid work, the rise of technology for enhanced productivity, and the lessons learned during the pandemic period for adapting to technology.

Morakinyo Oloyede, Chairman of the Oyo State branch of CIPM, explained that the topic of the conference aimed to prepare the institute for changes in the workplace and equip its members with strategies, policies, and initiatives to effectively manage people.

He added that the conference aimed to promote workplace happiness, reduce employee turnover, and encourage a motivated workforce.

Oloyede suggested that HR professionals could introduce measures like providing off-days or staff transportation services to mitigate the impact of fuel subsidy reductions on employees.

The event also featured a sub-theme lecture by the Managing Director of BUA Foods, Engr Dele Abioyew. It was well attended by HR professionals from various organizations, including African Newspapers of Nigeria PLC (ANN PLC), the publishers of Tribune Titles.

Among those present were heads of Human Resources such as Mrs Toyin Ibikunle, Manager of Policy & Implementation, Mrs Bukola Ezeamaka, and Senior Procurement Officer, Mrs Yemisi Adetola.

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