May 17, 2021

Akwa Ibom Gov’s aide urges organizations to reposition for greater productivity

Akwa Ibom Gov's aide urges organizations to reposition for greater productivity

…as New Dawn MFB launches new products

Emerging Post COVID-19 global reports have pointed out that organizations are currently repositioning by reimagining work, workspace, and workforce and utilizing technology in their daily transactions to stand a greater chance of upscaling in productivity and workforce to build back better.

Over the past 12 months, industries across the globe have reinvented, reimagined, and adopted new strategies to engineer its workforce and workspace. Also, this industrial revolution has prompted new companies in Silicon Valley like Apple, Facebook, and Google to cash out a market capitalization value of 5 trillion US dollars in revenue and 250 billion US dollars with 1.2 million employees.

The statistics available is a wake-up call to entrepreneurs especially startups in Africa and Nigeria to develop work models or leverage the technological tools available to upscale their business output. Africa is poised to accelerate, and as more talents become available, more companies will be looking to invest.

Consolidating on the facts available, the Special Assistant to Governor Udom Emmanuel on Entreprise Development, Mrs. Meflyn Anwana in her address as the keynote speaker urged MSMEs and existing organizations to reposition themselves for greater opportunities most particularly with the new precepts of the 21st century of the world.

The Governor’s aide noted that as technology is becoming dynamic and flexible, entrepreneurs need to ”imagine the new hybrid workflow, where working from home is a new normal; flexibility, agility, and ingenuity, therefore, becomes germane, and some population will benefit from working from home while others will struggle.”

Mrs. Anwana made the assertion during the 3rd anniversary and 1st Anniversary Lecture/Award Ceremony of New Dawn Microfinance Bank in Uyo with the Theme; “New Dawn of Microfinance Banking in Nigeria”.

According to her, communication will be more asynchronous, therefore, entrepreneurs need to build a customer centric organization, adding that ”organizations that put their customers at the heart of their business will experience an increase in customer lifetime value and a reduction in churn.”

Anwana maintained that the shift towards becoming a truly customer-centric organization is both complex and long but, even the smallest changes to policy and processes can have an appreciable impact on entrepreneurs.

“History has it that crisis always brings innovation to the world with new technology being developed. The Pre-industrial age was characterized by handcrafted production, subsistence agriculture, power from domesticated animals. The 1st- 1784: brought in the water & steam powered production, mechanical loom and factory system. 2nd -1870: brought in division of labor, assembly of lines created “mass production”, slaughter houses, and then automobiles. 3rd-1969: brought digital revolution, logic circuits micro processors, connectivity by internet. 4th-Now: which is the era that we are currently in now, launched the era of sensors and big data lead to the Internet of Things or Cyber physical systems (CPS).During the 1990s the 3 biggest companies in Detroit where Ford, Chrysler, General Motors (G.M) with a market capitalization of 36 billion US Dollars and 250 billion US dollars in revenue with 1.2 million employees.This present era has shown a drastic shift in the industrial revolution with new companies companies in Silicon Valley like Apple, Facebook, and Google having a market capitalization of 5 trillion US dollars in revenue and 250 billion US dollars with 1.2 million employees”.

It’s important for entrepreneurs to invest in their work force and deploy technology to leverage complimentary capabilities. WEF recently declared a reskilling emergency as the world faces more than one billion job transform by technology. Global labor shortages of over 85.2 million workers are projected by 2030. 74% of organizations say reskilling the workforce is important for their success over the next 12-18 months, but only 10% say that there are very ready to address the trend.

Clearly, the HR /Communication department in any organization becomes a vital enabler of an organization’s ability to thrive in a world where the old rules of work no longer apply, and the new ones are evolving rapidly. Advanced HR are focused on harmonizing the world of work; a key source of strength for the future focused organizations seeking to make the most of human capital in today’s dynamic environment. Thus, Entrepreneurs needs to know that flexible work is here to stay, thus leaders are not to be out of touch with employees, high productivity is masking an exhausted workforce, gen Z is at risk and will need to be re-energized.

New Dawn Microfinance Bank located at Udo Udoma Avenue in Uyo is one of the leading Microfinance Bank in Africa with her tentacle projections across the African continent. The 3rd Anniversary celebration featured Unveiling of New Dawn ATM cards and other SME’s E-banking solutions (POS, quick teller, pay direct, autopay, USSD amongst others).