This article explores various compensation strategies that may be explored by organizations to position themselves to maximize the growth prospects presented by the burgeoning economy.
The World Bank, in its Bi-annual Economic Update, predicted that the Nigerian economy will record a slight recovery from the recession in 2017. This position has also been reiterated by the Federal Government of Nigeria and its apex financial regulator, the Central Bank of Nigeria (CBN).
Following a recession, an economy is said to be in recovery when, as a result of fiscal and monetary policies, economic activity is stimulated leading to improved demand and macroeconomic indicators, increasing investments and production of goods and services.
People are the engine of business growth. Therefore, maximizing the prospects presented by the economic recovery will require, among other things, an HR strategy that is responsive to changes in the business climate, and an Employer Value Proposition that is able to attract, motivate and retain critical talents required to drive business performance.
This excerpt is from our Newsletter document "Compensation Strategiesin a Recovering Economy". Click here to download the publication.
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