NOSAK GROUP – pioneering survival strategies for businesses in a recession through Learning and Development

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The current economic variables playing out within the Nigerian business hemisphere have forced organisations to transition in order to survive and still maintain a portion of the market share. This has equally given rise to innovations as regards strategies for survival, which will hopefully mitigate against a future reoccurrence.

The Head Training – Nosak Group; Mrs Igie Odozi stated that this reality not only impacts businesses directly in terms of market share but affects to a larger extend the owners and drivers of the business. The major stakeholders in this endeavour are the owners and the employees. In situations such as the one business owners and organisations have found themselves in this country, the organisations will have to grapple with issues of shrinkage of the market, downsizing, cost savings/reduction in order to remain afloat while employees on their part are up and doing in seeking for greener pastures in other organisations to mitigate the risk of job losses. This to a large extent accounts for the current high level of employee turnover in organisations.

For organisations willing and seeking to remain afloat while running profitably, the key is to imbibe a culture of learning.  Training programmes for human capital development are now channelled towards ensuring the effectiveness of employee contributions to the success of the business. Consequently, smart organisations now adopt more effective solutions in workforce engagement through the retention of their critical talents. This is only achievable by continuous investment in learning and development. Learning and development continues to be a practice that requires a substantial chunk of investment and organizations that fail to adjust their learning management practices and solutions will struggle endlessly with declining organizational growth or productivity.

Nosak Group as a world class company, an innovative cum leading brand in industries is an advocate of this smart solution of investing heavily in continuous learning and development of its workforce using the best of technology and content. A recent study revealed that leading companies like Nosak Gorup are taking it further by leveraging on social learning activities; mobile learning solutions etc thereby consistently increasing the budget size for learning and development. This has equally given rise to a paradigm shift whereby there is a transition from the traditional context of strictly controlling approach of the workforce to the innovative approach of engaging and seeing the workforce as partners in the business.

The traditional methods of learning are also being abandoned in favour of more effective learning solutions based on cutting edge technology, which engages talent and improves performance.

In the present scheme of things, our approach at Nosak Group to organizational development are:

a).     Prioritizing the Individual employee.

b).     Development and Re-training key talent as a strategic business       priority leading to business growth.

c).     Strengthening partnership between the Group and our workforce. This makes us not to be overly “controlling” but one that views her employees as collaborators for success.

It is in line with this paradigm shift by the management of Nosak Group that a World class, fully equipped Training School was commissioned on March 15, 2017 to serve not only the needs of the Group but other organisations willing to key into this initiative. At the flag off of this laudable initiative; Group Chief Operating Officer – Thomas Oloriegbe appreciated the management team for the giant step taken to properly equip the training school with the latest technology offerings. This is geared towards impacting knowledge and empowering the work force in their respective disciplines.

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NOSAK GROUP HOLDS 2017 MANAGEMENT RETREAT

NOSAK GROUP HOLDS MANAGEMENT RETREAT, AIMS TO LEAPFROG IN MARKET LEADERSHIP.

Nosak Group recently held a two-day Management Retreat themed “Accelerate and Win: Leapfrog” at Sunfit Hotels, Amuwo Odofin where over 20 Managers and Department Heads from across Nigeria gathered.
The retreat was facilitated by Wright & Co Ltd, a management consulting firm (Affiliated with Leadership & Vision Ltd) that provides cutting edge solutions to some of the most complex challenges facing organizations today.

Guest speaker, Olu Onakoya, led the retreat with a session on the importance of Effective Communication as a Leader. A Former Managing Director of Mobil Nigeria, Olu Onakoya has over 30 years of cognate corporate and organisational leadership experience, most of which he was at top management level.

Dr. Toni Ogunbor, Chairman of Nosak Group, also conducted a session on the state of the company and trends in Nigerian economy. He applauded each business on its ability to survive in the current economic recession of the country.
Recognising the newest product line of the Group; Nosak Famili Vegetable Oil, a product of one of the newest venture, Nosak Farm Produce Limited. Nosak Famili Vegetable Oil is expected to circulate every Nigerian market before the end of the second quarter of the year, 2017.
This is already creating additional jobs and export opportunities for the country, which the Federal Government has encouraged of recent times. He further stated that, “It was an outstanding retreat and the results will be felt throughout the company for a long time to come. All our team members were able to benefit from the discussions with external facilitators and to participate in the continued aim for leadership of the company.”

An indigenous conglomerate founded in 1984, Nosak Group has built a reputation for providing the highest quality services and products ranging from lubricants, ethanol, retail outlets, real estate, financial services, healthcare solutions, logistics and industrial packaging for clients across Nigeria, as well as neighbouring African Countries.

VACANCY:INTERNAL AUDIT & COMPLIANCE OFFICER

We are a reputable, world class, dynamic, creative and result oriented organization. We are currently recruiting for the post of Internal Audit and Compliance Officer.

 

INTERNAL AUDIT & COMPLIANCE OFFICER –                                     CODE: IACO-2017

Responsibilities:

  • Carry out verification exercise.
  • Carry out audit review activities as stated in the audit plan and allocated.
  • Carry out market survey as may be required.
  • Document and file according to reference document.
  • Carry out other audit assignment as directed by the unit Head of Internal Audit and Compliance.

Requirements:

  • B.Sc / HND in Accounting
  • ICAN /ACA registered or to start soon
  • Must be between 25 – 30 years of age
  • A minimum of two (2) years work experience as an internal auditor
  • Highly motivated, results-oriented individual with integrity, very confidential and able to work independently under minimal supervision with an attention to detail and accuracy
  • Analytical, excellent report writing and investigative ability
  • Experience in tank farm or depot will be an added advantage
  • Strong working knowledge of Microsoft applications (Excel, Word)
  • Ability to manage numerous tasks and sensitive information in a professional manner in a fast paced deadline driven environment

Location: Lagos

Type of Employment: Permanent

Salary: Very attractive

Expected date of resumption: Mid February 2017

Only qualified and interested candidates should send their resumes to careers@nosakgroup.com using the code as the subject of the mail. Application closes on or before Monday 31st January, 2017.

Recession? Time to strengthen your company

Who’s got time to worry about building a stronger organisation in a downturn? Surely executives can’t focus on internal issues when they face so many other pressing matters?

But this is exactly the time when leaders need to ensure their organisations are performing well, so that important decisions get made and executed quickly and effectively.

Turbulence offers a rare chance to bring in new talent and improve the way that organisations function.

The trouble is that companies under duress often lack the organisational capabilities to meet mounting challenges. Some make snap decisions. Others stall, unable to decide. Yet others badly need new people to bring fresh perspectives or help them overhaul dysfunctional cultures.

Strengthening the organisation is one of the most powerful levers any company can pull to improve its performance in a downturn. It starts by asking a series of questions:

  1. What are the critical decisions in this downturn?
  2. Do we need to adjust our organisational structure to address them effectively?
  3. How should our roles and processes change?
  4. Will our most experienced people be able to make and execute key decisions?
  5. Which aspects of our culture reinforce decision effectiveness, and which don’t?

Adopting this “decision lens” is the single most important step that a company can take to improve its performance.

It helps leaders focus their efforts where they will have the most impact during a downturn and accelerate growth when the economy improves.

1) Identifying the critical decisions

Every company has its critical decisions. If your business is in relatively good shape, those decisions may not have changed much. Some will be the big choices, like whether to acquire a competitor or invest in a new product. Others may be everyday frontline decisions.

Toyota, for example, achieved its leading position partly through its reputation for manufacturing quality. To maintain that quality, the carmaker ensures that workers in every plant know how to make and execute the right quality-related decisions.

These decisions are as important now as when Toyota was growing rapidly.

If you are in survival mode, your critical decisions will be different, such as whether to sell a stake or overhaul the business model.

2) Testing the structure

Sometimes structure is a serious obstacle to making and executing a business’ critical decisions.

In that case, structure must change.

Previously, Hewlett-Packard’s sales force was organised by customers while its manufacturing units were organised by products. With stalled decisions and people working at cross purposes, performance suffered.

The IT firm then moved to a product-based structure across the entire company, with accountabilities for decisions clearly defined. That created the conditions for better decision-making and execution, which in turn generated higher profits.

3) Clarifying roles and processes

Whatever a company’s structure, decision roles need to be clear. Unless people know who is responsible for making and executing critical decisions, stress on an organisation will only increase.

The individual or team responsible for a Recommendation gathers relevant information and proposes a course of action.

  • People with Input responsibilities help shape a recommendation so it is operationally practical and financially feasible.
  • An executive who must Agree is anyone who needs to sign off, often a legal or regulatory compliance officer.
  • Eventually, one person will Decide. Assigning the “D” to one individual ensures single-point accountability.
  • The final role in the process involves the people who will Perform or execute the decision.

Clear decision roles are essential amid turbulence. They can boost performance by unclogging bottlenecks and cutting the organisation’s cycle time.

4) Right people in right roles

In good times, companies focus on managing growing organisations. In a recession, the logic changes. Many companies cut costs through layoffs and attrition.

But the people who leave are not always the poorest performers. Those who stay may not have the skills to make and execute decisions. And companies often fail to consider who they might hire to bolster their capabilities.

In a downturn, no company can afford to have the wrong people in key decision roles.

At one IT company, we found that more than 40% of the managers identified as high performers were in non-critical positions. Meanwhile, fewer than 40% in mission-critical roles were top performers. The senior team quickly corrected the mismatch, and business performance immediately improved.

The key to making the best use of people is a robust, effective, performance-management system that has real consequences.

5) Actively managing the culture

Culture underpins an organisation’s decisions. But cultures change and are particularly susceptible to change when an organisation is in crisis.

In a downturn, leaders need to take action to keep a strong culture from deteriorating – or to transform a culture that hinders good decisions.

Understanding that its culture is a competitive advantage, Southwest Airlines reinforces it in hard times.

In the early stages of the current recession, it maintained staff loyalty (through no involuntary job cuts) and invested in upgrading customer service. The carrier continues to be one of the US leaders for on-time performance, an aspect of the business that customers care deeply about.

A strong organisation is not optional, something to worry about after the crisis. Your organisation’s strength will greatly affect how well your company weathers the storm.

It will also strongly improve your chances for growth once the storm passes.

5 KEY QUALITIES EVERY EMPLOYER LOOKS FOR IN A CANDIDATE

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The job search is no easy undertaking. Each step of the process gets harder, requires more work and is more stressful. It’s difficult to sell yourself to strangers and anticipate what they want to hear. What qualities would make you more desirable for a position?

Obviously, there are various potential answers to that question, but it’s not as big a mystery as you might think. Desired skills and experience vary for job to job, but there are universal qualities every employer looks for in an employee. We’ve outlined some of those key qualities and why they are so important to employers. Have a look and see if you can improve those qualities in yourself and learn to sell them more effectively to employers.

Communication skills

Earlier this week, we featured an article looking at the essential skills of all great leaders. In that piece we explained how communication skills are one of the most important and overlooked qualities in a workplace. But it’s generally not overlooked by employers. They want to hire someone who can professionally and effectively communicate their message or their work to co-workers, management and clients. Demonstrating that ability shows the value you can bring to any position.

Self-confidence

Micro-managing is often looked at as a problem of the employer, but any employer hates having to monitor an employee who doesn’t have faith in their own work. A candidate can demonstrate the necessary skills and experience on paper, but they can fail to deliver in the actually position if they aren’t confident in their work. Self-confidence allows an employee to be innovative, take the initiative as well as the occasional risks. An employee with self-confidence inspires confidence in the employer.

Cooperation

Workplace relationships are extremely important for any position and at any level. Smart organizations thrive to have solid cooperation among all workers, so they tend to look for team players. Those who can share and collaborate with other often better their work and the work of their colleagues. Show employers you have a willingness to collaborate and they’ll want you on their team.

Tech savviness

Technology is becoming more and more significant for so many industries. The ways in which business is done is faster and easier thanks to the newest innovations. Boomers are often unfairly signalled out as a demographic who is behind in their tech savviness. To be fair, most boomers didn’t have access to a computer until their adult years, but that’s not to say they are lacking in the abilities more than anyone else. Each year there are new programs and software that employers need to become familiar with in order to stay current. Make sure you stay current. Stay up to date on your industry’s most significant tech, learn it and add it to the resume.

Ambition

When you’re looking for a job, you can be forgiven for having only short-term goals in mind. Hopefully you’re in a position where you’re able to search for the right job, but for some, they need the ‘right now’ job. While that’s fair enough, you need to understand that employers want someone who’s looking for more than a paycheck. They don’t want someone who is looking to wind down the clock until retirement. They want someone who is not finished climbing the ladder, someone who wants to learn and try new things and someone is passionate. Let them know you see a future with their organization and make it easier for them to picture you as a part of the team for a long time.