By Victor AhiumaYoung

President of the Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, Olusoji Oluwole, in this piece, speaks of the perception of trade unions as being confrontational, the Japa syndrome (brain drain) and emerging issue of Artificial Intelligence on job security.

Trade unions being confrontational

It is unfortunate that unions are often viewed as confrontational. However, this perception can change if stakeholders understand the role of trade unions in national development.

Unions become confrontational when organisations take them for granted or violate the rights and privileges of workers. It is not our desire to be confrontational; rather, we seek collaboration with employers for mutual growth and productivity. Without organisations, there can be no unions.

Therefore, maintaining a positive and respectful working relationship is crucial. We are always open to partnering with employers, provided they respect the rights of the employees and recognise the value that unions bring to the table.

Together, we can ensure a harmonious and productive working environment.

Japa syndrome

As a union, we have observed the alarming trend of our intelligent youth migrating to other countries, creating a significant gap in Nigeria’s business environment. This phenomenon is particularly concerning in the financial sector, which relies on integrity and experience.

The departure of experienced professionals has a negative impact on our sector and the Nigerian economy as a whole.

To address this, we are developing programmes to attract and retain talented youth in our country. Additionally, we urge the government to take action by creating an environment that encourages professionals to stay, and also by implementing measures to bring back those who have left.

Other countries are attracting these professionals for various reasons. To curb this brain drain, our government needs to ensure that the conditions which attract talent abroad are also present in Nigeria. We must work towards making the environment conducive for professionals to thrive.

Currently, there are issues such as poor infrastructure, multiple taxation, excessive regulations and security concerns that deter individuals from staying or returning. It is crucial for the government to invest in these areas and provide the necessary resources to attract talent.  

Artificial Intelligence

Artificial Intelligence (AI) is indeed a growing threat to employment worldwide. However, we believe that AI is developed and operated by people.

Therefore, we expect employers to prioritize the development of their workers, to handle the introduction of AI. While the prevalence of AI in our region may not be as high as in others, we cannot deny its increasing significance.

Organisations must look for areas where they can utilise their existing staff. The financial sector, for instance, still has untapped opportunities such as the rise of fintech companies and increased automation.

Furthermore, it is important to note that machines are not infallible. When issues arise, it is the human beings with experience who can effectively address and resolve these problems.

Unfortunately, many organisations are sacrificing experience for technology.

However, in my years in the industry, I have learned that experience always comes to the rescue. Therefore, we cannot afford to let go of our experienced professionals in the pursuit of technology. If we are not careful, AI could lead to job losses.

No amount of security measures can fully protect AI systems, as they were developed by people who can breach the security themselves. It is crucial to have experienced professionals who can correct any issues caused by AI.

We have been advising our members to focus on their personal development to ensure their job security and contribute to their organisations’ progress. Some organisations have already started developing their staff and others should follow suit.