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10
The
Employer
employer
/ɪmˈplɔɪə,ɛmˈplɔɪə/
noun
- a person or organisation that employs people
/ɪmˈplɔɪə,ɛmˈplɔɪə/
noun
- a person or organisation that employs people
The economy isn’t partial to its effects. Employees and employers alike feel it. To understand what it's like to be an employer in Africa right now, we spoke with a few folks on the hiring side.
Through in-depth conversations with them, we aimed to gain a comprehensive understanding of the African workforce. Their perspectives provided invaluable qualitative data.
One thing was common; the constant tug-of-war between keeping the company afloat and ensuring their employees are doing okay.
Through in-depth conversations with them, we aimed to gain a comprehensive understanding of the African workforce. Their perspectives provided invaluable qualitative data.
One thing was common; the constant tug-of-war between keeping the company afloat and ensuring their employees are doing okay.
The Economic Impact on Productivity
100% of employers reported a decline in productivity.
Cost of transportation (60%)
Cost of feeding (40%)
The Talent Crunch and Retention
- Economic downturn affecting company revenue and talent retention.
- The "Japa" phenomenon leads to significant talent loss.
- Difficulty in recruiting due to talent scarcity.
The Role of Compensation and Benefits
- 75% of employers believe salary increases boost productivity.
- Division on salary increase strategies:
- 25% advocate for targeted increases based on performance metrics.
- Others prefer across-the-board adjustments to combat inflation.
- 25% advocate for targeted increases based on performance metrics.
Beyond the Paycheck: Fostering Employee Satisfaction
- Non-monetary benefits are crucial for employee well-being.
- Flexible work arrangements and employee engagement initiatives as effective strategies.
Creating a Supportive Work Culture
- Employers focus on employee well-being to mitigate external stress.
- Building a positive work culture through team-building activities and open communication.
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Download the
Report
The findings of this report underscore the financial strain faced by employed Nigerians. This highlights the urgent need for innovative solutions, such as earned wage access, to provide financial relief and support the well-being of Nigerian workers.
For a deeper dive into the data and specific figures, refer to the full report:
Turn Insights into Action
Our “State of The Employed” report reveals that 70% of employees lack access to financial support from their employers. With PaidHR’s Earned Wage Access, you can offer your team instant access to part of their salary anytime—at no extra cost to your organization.
Ready to see it in action? Book a demo today.
Book a Demo
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