Top 5 Tips To Help CEOs Retain Their Valued Employees

Recruiting skilled and talented employees who can add substantial value to the company is a serious challenge for most employers. However, it is an even bigger challenge to retain such employees in the business as most tend to quit in search of better career opportunities and higher pay. Here we are going to talk about how you can make your most valued employees stay within the comp-any and help your business prosper. Read on.....

Retaining Your Employees                         

In a recent article, Entrepreneur, Results-Oriented CEO and Author Brett Fox writes “Employees, in my experience, have usually made up their mind when they resign. It’s become an emotional issue, and it’s very difficult to overcome emotion. Thus my perfect batting average. My view is simply, 'Don't let employees get to the point where they want to quit'.”

He believes that it is important to treat everyone properly, create a great work culture, assign interesting and challenging work and this will help to increase employee retention across all levels. Fox states “We unabashedly stole our company culture from Netflix with a little bit of Zappos and Sandy Koufax thrown in. We were thieves and robbers, but I’d like to think we were just being smart. I’ve always felt you can take inspiration from many different sources, not just from your industry.” He adds “I was fortunate to be exposed to Reed Hastings' (CEO of Netflix) wonderful culture manifesto (Culture) right after we started operations, and many parts of it resonated with me. I shared it with our executive staff, and they liked it as well.”

Here we are going to have a look at 5 important things that Brett Fox believes will help any company to develop a “fantastic” culture.

Hiring The Right Guy

Imagine you run a start-up with a team of 20 employees. What happens when you realise you have one bad performer? It means that 5 per cent of the workforce is incapable and ineffective. This is where you need to take fast action to fix your recruiting mistakes. However, you need to deal with terminations in the proper manner. Fox writes “Nothing kills a company quicker than mediocre co-workers, and this is especially true at a start-up where there is tremendous pressure to hire key personnel.”

Offering A Good Severance Package                     

You are bound to encounter different types of employees, but it can be overlooked as long as they perform effectively and embody the values of the business. According to Entrepreneur Brett Fox “It’s easy to tolerate jerks when things are going well, but things don’t always go well. One jerk, especially in a small start-up, can destroy a company. Hiring pressure can push you to hire a jerk, and you will likely regret it. We did hire a couple of jerks along the way. Shortly thereafter, they were given a generous severance package.”

Offering Freedom Is Important

Fox writes that only responsible employees are “worthy of freedom” and tend to thrive when provided freedom. Usually most businesses tend to impose more rules, restrictions and procedures as they grow. But it is imperative that businesses resist the temptation to do so no matter what.

He adds “Instead, make the bold decision that Netflix made to increase employee freedom (shown brilliantly in slides 43 and 55). We did, and it paid off for the team. Do it, and your team’s motivation will go up big time.”

No Vacation Policies

Yes, make sure you don't have any particular vacation policy, instead allow your employees to take as many vacations as they need, provided they get their work done effectively and without delay. Of course there is the possibility that your employees might misuse this opportunity. But it can create a negative outcome only if you are unable to recruit the right employees. In his post, Fox says “Hire the right people and this policy is self-correcting. By the way, a hidden benefit is that you don’t have to financially reserve for vacation when you go to a no vacation policy.”

What's Best For Business

You need to make sure that all policies are formed to enable the employees to work in the best interest of your company. Fox writes “The executive staff had a vigorous debate about enacting a rigid expense and travel policy. Again, the worry was abuse. Our theory was that it’s self-correcting. Employees that continually abused the policy would be given a generous severance package. I do remember one employee who tried to expense a one-mile car trip to interview a candidate. Can you imagine receiving a $0.55 expense report? I couldn’t. We talked about it in our staff meeting, and one of his peers set him straight.”

So there you have it...I hope these tips help you to create an excellent work environment that not only challenges and motivates your employees but also boost employees retention as well. Fox concludes by saying “All of this is great, but there is one more thing you, as a leader, need to do, no you MUST DO, to retain employees: You need to really care about your team.”

Feel free to leave your comments below. I would love to know what you think about this topic and how you retain your employees.

How African Learners Can Pursue Higher Education Effectively

Higher education is certainly one of the key factors that can enable you to confidently compete in today's intensely competitive global job market. Various countries across Africa are striving hard to counter academic challenges and offer excellent learning opportunities to students. Although a lot more is still required to be done to improve the educational scenario in the continent, many establishments are now taking the right steps to help you earn a degree and steer your career towards success. Lets have look..... 

Making Education Effective 

I have observed that a number of organisations are working diligently to improve the state of higher education in Africa. UN agencies, such as the World Bank and UNESCO, along with the Carnegie Corporation of New York are now offering excellent online resources. The African Network of Scientific and Technological Institutions (ANSTI), established by UNESCO in 1980, focuses on improving capacity for research and training while aiding collaboration. The bi-annual conference organised by ANSTI, the Conference of Vice-Chancellors, Deans of Science Engineering and Technology or COVIDSET, focuses on addressing challenges related to engineering and science education. According to reports from the COVIDSET, actions plans have already been proposed to improve the relevance of technology, engineering and science education in the overall development of Africa. 

Moreover the Education for All Global Monitoring Report from UNESCO aims to identify helpful policy reforms, effective practice, new challenges and evaluate progress in achieving the goal of Education for All. This also includes increasing the volume of students pursuing higher education. UNESCO has taken another initiative called Education Transforms Lives, which works to promote education and enhance employment opportunities. 

Focussing On Academic Challenges 

In addition to this, the World Bank has set up nineteen centres of excellence in mathematics, engineering, technology and science at reputed universities across 7 countries throughout Central and West Africa. Another programme by the World Bank, Tertiary Education In Africa, aims to improve different aspects in higher education in Africa. 

Furthermore, the Higher Education and Libraries in Africa programme launched by the Carnegie Corporation of New York provides financial assistance and access to resources, projects and institutions that are striving to better capacity development in Africa. It focuses on improving excellence in postgraduate education, research as well as retention of scientists in their own countries. The company also started the Africa Regional Initiative in Science and Education that is improving engineering and science education and research by facilitating university-based networks. This helps learners to access financial assistance and job opportunities. 

Opting For A Smarter Solution 

However, the fact remains that even though all these establishments are significantly improving the state of higher education in Africa, numerous aspiring students are still unable to access quality learning opportunities and acquire training and qualifications. In fact, the value of a recognised degree is growing every passing day as employers keep looking for candidates who can add value to their business from day one. Hence it has now become important that not only you acquire the right training and qualification, but also gain relevant work experience that will give you an edge over the competition while going for a job interview. 

I admit that several political, geographical and other challenges across the continent have made it difficult for most students to pursue a degree, but if you work smartly, you can not only gain experience but also earn a recognised degree with taking out any student loans. How? The answer is online degree programmes. 

Many academic experts believe online learning is an excellent and valuable tool that can enable African students to pursue higher education and professional programmes right from their homes, without spending excessive money. You can now find numerous students across Africa pursuing online degree programmes from various colleges and universities worldwide. These online programmes are not only affordable, but these also enable you to work and study simultaneously with easy and flexible schedules. Moreover as most employers and universities now recognise and accept online degrees, you will be able to get a job or pursue further education easily. 

Improving Education In Africa 

With more learning and training opportunities being introduced, both online and on-campus, the future of higher education in Africa surely seems bright with better and more affordable options and growing employment opportunities. 

What do you think ? Feel free to share your thoughts and opinions with us. We would love to hear from you. 

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Why The Nigerian Government Is Unable To Stop Private Universities From Hiking Tuition Fees

Tuition fees in colleges and universities across the globe are hiking exponentially and this has become one of the major challenges for aspiring learners planning to pursue higher education. As a result of the increasing college tuition, more and more students are now feeling the compulsion to take heavy student loans which is eventually affecting their careers and lives adversely once they graduate. The situation seems to be even worse in developing countries like African nations. Currently, private universities all over Nigeria are charging ridiculously high fees to the students which most learners are finding it difficult to pay. However, the sad part is that the Nigerian government believes that it cannot determine how much private universities will charge students, saying that Federal universities do not charge any tuition fees.

Can Private Universities Charge Anything?

Osita Chidoka, Nigerian Minister of Aviation, said that now private universities in the country can charge any amount they want for profiting from their operations and the Federal Government is unable to take any action to prevent this.

As per a report by The Nation, Chidoka made this comment while he was trying to shield different questions from news reporters recently after the Federal Executive Council (FEC) meeting, where authorities approved the development of 9 new private universities. The minister said that all universities in Nigeria under the Federal government and mentioned that the authorities are concerned only about the standards of the institutes, especially regarding staffing and facilities.

Osita Chidoka said “Government really does not have anything to do as far as what the private institutions are charging. Tuition is free in public schools. All that is the responsibility of government is to ensure that the standards are maintained. We are to ensure that they are operating within the minimum required standard, and that is the responsibility of the NUC in terms of their facilities, staffing and so on.”

He added “The accreditation of any universities or courses has nothing to do with the fees they charge just like the private hospitals.”

Are No-Tuition Public Universities The Solution?

Nigeria’s Aviation Minister stated that students in the country have the option to pursue affordable education in public schools, declaring that none of the Federal universities in the nation charges any tuition fee. Chidoka said “As far as government is concerned, all Federal Government universities are tuition-free. Whatever the universities are charging are so minimal for some day-to-day activities: games fees, union fees and some other fees.”

He mentioned that although some school can charge some nominal fees to cover other fees, but maintained that such fees do not comprise the tuition fees. He further said “There is a university that is charging as low as N20,000, N15,000. Some charge N30, 000 to N80, 000 or so which is a composition of a number of different kinds of fees. But basically, no university owned by government is charging tuition fee.”

There are many Nigerians, particularly the learners at Nigerian public schools, who might not appreciate or even accept the minister’s views on tuition fees charged by private universities. In 2014, numerous Nigerian students from all over the nation joined in the protest against rising tuition fees. There is currently a strong need for offering affordable and quality higher education to the students and help them improve their employability and their future career.

What do you think about the rising fees in Nigerian private universities? Share your views and opinions with us by commenting below.

5 Great Ways For Female Executives - Fight Bias In The Workplace

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Being a woman executive in the global business world, dominated mostly by men, can surely be a daunting task. It is not enough that you need to manage everything at your work place, but you also need to manage and take care of everyone at your house as well. But there are women out there who are balancing both worlds effectively and giving men a run for their money.

Doing It All Effectively

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 Being a woman executive myself, many people have asked me that how do I manage to do it? Well, there are no clear answers...you stay focussed and get it done. The key is to get adequate rest, be prepared, never be late, organise everything at home and make every member in your family do their part. I agree that there will be some bad days when nothing will seem to work, but you need to stick with it.

The fact is women have a much harder time in advancing their career and moving forward in the corporate world. We earn much less than our male counterparts in the same designation and are recruited for only a handful of leadership roles. We experience harassment and discrimination in large numbers and are expected to take care of the house and our careers simultaneously.

Getting Things In Line

But now it’s time that we take charge and make things right. Here I am going to talk about the top 5 thing that you can do as a female executive to avoid trends and stereotypes, fight bias and encourage gender equality in your workplace-

Source - bit.ly/1Aub2wf

1.You need to start by reading the article titled “Madam C.E.O., Get Me a Coffee” by Sheryl Sandberg and Adam Grant that was featured in the New York Times. Erin Krehbiel, President at Global Benefits Firm, says “Office Housework or as I like to refer to it: the admin trap. Women are far more likely to volunteer for training, mentoring and last-minute client requests.”

2.Identify the “Power Seat” and use it to your advantage. Krehbiel says “I recently came across a blog post about where you sit at a meeting and how it affects the room/team, etc. Unconsciously, I have been using the tips for years, but the explanation was fascinating. Since I tend to come off as a decision maker in control, I have learned that sitting within the group vs. at the head of the table is a great tool to avoid “witch” distinction.”

3.Erin Krehbiel believes that women need to share their voice and actively join the “the cause” through engagement with companies such as 2020 Women on Boards. She adds “It DOES matter! Boards of directors make decisions that impact all of us and the lack of diversity in general is shocking.”

Source- bit.ly/1MxS54r

 4.One of the worst things about female executive and women in the workplace in general is that we have developed a bad reputation of not supporting or standing up for each other. The President of Global Benefits Firm says “Men have done a tremendous job joining together and taking control. That might explain the divide in top corporations where females occupy only 5% of CEO positions.”

5.It is time to accept and embrace change for our own development. I believe that all women need to get rid of their perfectionist tendencies. We need to have a more open mind towards change and be willing to take risks. Krehbiel says “I have practiced this skill for years and it has benefitted me both personally and professionally. I now feel excitement build when a large opportunity rears its head.”

So there are my tips for making things better at your workplace and at your won house. If you would like to add some of your own tips to the discussion then feel free to comment below. I would love to hear what you have to say.

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