VerrakiPartners

Today marks a significant milestone in our journey – the 5th anniversary of Verraki's founding!

Thanks to our incredible team, partners, and clients for being part of this remarkable journey. Here's to many more years of innovation and success together!

Happy 5th anniversary !🎉🎉🎉

Hello!

Verraki Africa is running a survey on Performance Appraisal – Experiences and Perception to enhance talent management.

We would appreciate your input on current appraisal processes and performance-tracking methods across Africa.

Please take a moment to participate by clicking the link below and filling out the survey.

https://bit.ly/VerrakiPASurvey

Your insights will shape our approach, and we'll share the aggregated feedback in our series on performance management.

Thank you!

Fill | Africa Survey on Performance Appraisal – Experiences and Perception At Verraki, we believe that a positive and empowering performance management experience not only enhances business outcomes but also nurtures the development and growth of an organisation's talent. Our goal is to improve talent management practices and elevate employee satisfactio...

The impact of talent shortages, declining productivity, and low employee engagement on results is on the radar of most business leaders.

In 2023, global talent scarcity reached a new high at 77% (up from 36% in 2014) - Global Talent Shortage Report (ManpowerGroup). Gallup estimates that low employee engagement cost up to 9% of global GDP (about $8.8 trillion) in 2023.

In response, talent optimization (aligning talent bench with business priorities and enabling employee’s best performance) is increasingly a core imperative for leading businesses. This is driving a shift to recognize that employee performance management is a critical component of strategy.

Every employee is looking for opportunities to be their own best self and to grow. Employees seek and are empowered by places where they belong, can contribute, and do the kind of work that is reinforcing and empowering rather than depleting. Individuals want to know whether they are ‘doing well’ and want to know early so that they can close gaps and improve performance.

Businesses can adopt the Objectives and Key Results (OKRs) approach, which must be reviewed frequently, enabling employees to reflect and score their objectives and result in accomplishment and discuss with team leads/supervisors.

Employee promotions, rewards, compensation, bonuses, training plans, and skills development should be based on objective insights from business, team, and individual OKR performance over the period and avoid surprises.

Performance management is core to maintaining employee engagement and driving conversations that emphasize the development of employees' skills, knowledge, behavior, and alignment with strategic objectives in the pursuit of results.

click the link below to read the full article

https://bit.ly/4bYqB9K

Happy Independence Day, Nigeria!

Today, we celebrate 63 years of unity, resilience, and progress.

As we reflect on our history and look to the future, let's embrace the values of diversity, tolerance, and unity that make Nigeria truly special.

Together, we can build a brighter and more prosperous nation for all.

The purpose of performance reviews is two-fold: an accurate and actionable evaluation of performance, and then development of that person’s skills in line with job tasks. For recipients, feedback has intrinsic and extrinsic value. Across fields, research shows that people become high performers by identifying specific areas where they need to improve and then practicing those skills with performance feedback.

https://bit.ly/3Ph7b6N

VerrakiAfrica

In today's fast-paced and interconnected world, technology innovation has emerged as an undisputed driving force behind the economic development of developed and developing economies.

Since the establishment of the first National Science and Technology Policy in 1986, various administrations in Nigeria have shown interest in promoting science, technology, and innovation as key driver of socio-economic development. The 2022 NSTIP offers a good reference point and baseline.

Nigeria has a new administration, whose tenure began May 29, 2023. Businesses and consumers are yearning for some landmark policy interventions that will position the country to take its pride position as the leading technology hub in Africa.

Technology and innovation are strategic enablers of economic progress globally which the Nigerian government can strategically leverage. In this report, we highlight some ten (10) technology innovation policy priorities that the new administration could consider.

Click the link below to read the full report.

https://shorturl.at/DNTW8

Every failure is a stepping-stone towards greatness and success. Setbacks are learning experiences and should be classified as useful knowledge to everyone.

If things aren’t going your way, you are the only one that has the power to change it. Sniff, Scurry, Hem, and Haw are examples of what change can do for a person. In this life-changing book, “Haw” means to be someone who learns to adapt in time when you notice that change leads to something better. We urge everyone to read this book, however, here are a few lessons from the book in the link to the website below.

https://bit.ly/3DxpqhJ

VerrakiAfrica

Managing Partner at Verraki and Chairman of the Nigerian Economic Summit Group (NESG), Mr Niyi Yusuf, speaks on the near-term outlook of the Nigerian economy among other issues as the country gets set to welcome a new administration come May 29, 2023

https://bit.ly/3sWFh7B

VerrakiAfrica &FiscalPolicies

Growth and development is possible in Africa as long as we are able to realize our true potential and seize different opportunities to be great. Ultimately, we can create a great continent by putting our heads together and utilizing our knowledge in a way that benefits Africa as a whole.

The first step in well-known change management models is often to “create a sense of urgency.” It’s safe to say that 2020 did that for us. Depending on the change you are pursuing, you may be able to skip straight to declaring a change vision that outlines a compelling vision of your future state, including the principles and values that will guide your response and provide specific actions you’ll take. While details are preferable in these types of statements, companies should be confident they can deliver on any stated commitments in the change vision.

https://bit.ly/3YZkH2c

Customer-focused businesses are always looking for ways to improve their products and services.
They are constantly listening to their customers and trying to find ways to meet their needs.
This can be a more challenging way to do business, but it can also lead to greater long-term success. By focusing on your customers, you are creating a business that is more responsive to their needs and desires. This can make your business more competitive in the long run.

Prices of goods and services have been on an uptrend in Nigeria as inflation for July 2023 came in at 24.08%, the highest recorded in decades. This has implications for consumers and businesses.

The main drivers of the recent inflationary pressures are the hike in food prices, expansionary monetary and fiscal policy, Naira depreciation, and of course the removal of subsidies on refined petroleum products. Not all inflation is bad; but when price increases get out of control, it affects just about every area of a business, including the ability of managers to plan.

We expect inflation to peak in 2023, before a decline to below 20% in 2024. In the interim, businesses can renegotiate contracts and change product pricing models in the short run. Long-term strategies would entail backward integration, and digital transformation, amongst other strategic initiatives.

Click the link below to read the full report.

https://bit.ly/3RdTl6t

A team is stronger when everyone delivers on their individual roles. However, building a successful team is about more than finding a group of people with the right mix of professional skills. Check out this website for more information.

https://bit.ly/46XzGgI

VerrakiAfrica

Remember, even if you try and fail, the experience gained is invaluable compared to doing nothing at all. The barriers to success often stem from the 'What ifs?', but today, we challenge you with 'What if you don’t?. Take that leap.

Happy 4th year anniversary!

Today is our fourth anniversary as a business, and we couldn't be more pleased with what we've accomplished in such a brief time.
When we began this journey in 2019, we set out to create a business solutions company with the goal of developing and changing Africa by creating solutions that are innately African and particularly suited for purpose.
With the help of our dedicated staff, clients, and partners, we are on the right path to transforming Africa.

Thank you for your ongoing devotion and support.

Happy International Women's Day . This day is an opportunity to celebrate the achievements and contributions of women to society and to reflect on the ongoing struggle for gender equality. It's important to recognize the progress that has been made, while also acknowledging the work that still needs to be done to create a world where women are valued, respected, and empowered to reach their full potential.

Did you know that the 2022 world health statistics of the WHO puts the healthy life expectancy at birth in Nigeria at 54.4years. Click the link below for more.

https://bit.ly/3EGTzfi

We are Hiring !

Happy New Year !

#ɴᴇᴡʏᴇᴀʀ2023

Merry Christmas🌲🌲
Wishing you and your Family a wonderful season of celebration.

Success can make you complacent and ignore the things that made you successful in the first place.
When you start to succeed, don't automatically think you can't fail again.
You often see someone as successful as Bill Gates, and it's easy to think he has to get everything right. He never makes mistakes, does he? Incorrect. And he was the first to admit that he had to avoid letting his success make him feel invincible.

This is when you stand for what is right, not compromising your standards even when everyone around you is. Integrity is about not yielding to temptations when they come.

Integrity is also about practicing what you preach. A lot of people especially leaders give others principles but fail to follow through with the same principles they advocate.
It’s not what we profess but what we practice that gives us integrity.

Helping the people we oversee define and pursue their career goals isn't always achievable. However, having a sense of purpose and a sense of momentum in accomplishing our career goals is strong; as a result, when we can help our employees get there, it's a meaningful way we can impact their lives and their success in the workplace. The author of this article suggests three management tactics for people who aren't sure of their career path: 1) assist in helping them examine trends, 2) broaden their perspective, and 3) don't steer too hard.

https://bit.ly/3DMGC3K

VerrakiAfrica

Leadership must be earned through continuous daily practices of truth, transparency, integrity, empathy, actions and effective communication. Those who lead other people should consider that privilege as an honor, one that they will never take lightly, one that will never change them and one that should be shared freely. Leadership is not a title, salary, the number of people on your team, the size of your budget or a corner office. Leadership is how you make people feel when you are there and even more importantly when you are not around.

Sunday November 20, 2022 was the last day of the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 27) in Sharm el-Sheikh, Egypt.

It is an opportunity for senior government officials and non-state actors to address climate change and its impacts, and a unique opportunity for Africa to lend a voice to the costs of climate change and climate action to the continent. There is no doubt that the world is at a climate crossroad, and time is running out for all stakeholders to take action towards decarbonization. Climate Action in Africa must help the continent build resilience, expand opportunities and inclusion, and birth climate-resilient green economies.

Click the link below for the latest ‘Verraki Insight’ publication for your consumption. Kindly circulate to people within your circle who may need the report.

https://bit.ly/3gwmXvW

VerrakiAfrica

Innovation is just a series of particular habits, brought together to create some commercial magic at the end of it all. If we can create some awesome innovative habits and maintain them, we can make innovating much easier.

There has been a change in the talent market. You must treat your staff with the same consideration you give to consumers and work hard to keep them. The first step to slow attrition and restore your development curve is to take this action. And this doesn't happen when they feel underpaid for their efforts to keep the firm running or disregarded in the rush to hire new employees. Leadership must make sure that they are valued for who they are and what they can bring to the table. The authors recommend four actions for leaders.

https://bit.ly/3FzTw6y

VerrakiAfrica

When the ONE option we have discovered doesn't work out, we frequently feel let down, rejected, and ultimately unsuccessful. We put all of our time, effort, and emotion into ONE strategy that we believe to be THE solution, and if things don't turn out as we had hoped, we declare it a failure. But if you look into inventions, inventors, architects, engineers, writers, designers, planners, builders, playwrights, explorers, you name it, you'll quickly discover that successful people experiment with a variety of strategies, plans, and tactics before they finally settle on the ideal combination. Because they are completely dedicated to the success of each attempt, these inventions and inventors are ultimately successful.
They may take lessons from past setbacks, but they never exploit such "failures" to excuse giving less than their all in the future. Every iteration brings the same level of assurance, hope, and optimism as the previous one.