Top Employers Reward African Talent With Expanded Job Packages

A new study by the Top Employers Institute shows that employees in Africa are increasingly being rewarded with non-financial benefits in addition to traditional salary packages.

The Top Employers Institute has released a new report on employee compensation and benefits at top organisations in Africa and around the world, which shows that employees are becoming more mobile and that job stability is no longer as important compared to the years following the 2008 economic downturn.

According to the World Bank, six of the world’s 13 fastest-growing economies are in Africa. The Top Employers Institute’s Compensation and Benefits Report, published in October 2015, shows that Top Employers in Africa are not only aware of this trend but are actively trying to make the working experience more pleasant for employees in an attempt to retain staff and attract top talent.

Johanna Mapharisa, Talent Leader at EY Africa, a Top Employer Africa 2015 says: “At EY, we focus on the overall employee experience, our way of working goes beyond the borders of compensation and benefits, which is designed to foster the building of a better working world.”

The Top Employer Institute’s Compensation and Benefits report is supported by the global HR Best Practices Survey, which was based on a sample group of 600 certified companies in 96 countries across the globe, including African countries like South Africa, Nigeria, Ghana, Egypt, Morocco, Tunisia, Kenya, Zambia, Angola, Botswana, Ethiopia, Gambia, Madagascar, Uganda, Cameroon, the DRC, Namibia and the Ivory Coast.

“While salary is still hugely important, non-monetary elements like flexible hours, catering to changing life-stage needs, learning and development, and recognition have become decisive factors in job offers and employee retention,” says David Plink, CEO of the Top Employers Institute.

“Non-cash related benefits have a history of increasing and decreasing relevance, but the recent growth in importance suggests it is an irreversible trend.”

A total of 93% of Top Employers from around the world said they attached different compensation and benefits packages to specific job roles – indicating more individualised employment packages. Another African Top Employer that believes in offering more benefits and compensational elements is medical technology company BD, certified in Ghana, Zambia, Kenya and South Africa.

“BD also focuses on non-monetary benefits in terms of package and benefits offered to employees,” says Catherine Karue, BDHuman Resource Manager - Africa, Corporate/Shared Services.

“An example is our learning and development initiatives. BD's commitment to learning and development is driven by our pursuit of being a great place to work and our strategic objective of building organisational and individual capabilities.

Learning and Development at BD is achieved through various methods such as a coaching partnership, enriching job experiences and challenges, and formal training provided by BD University (BDU). This greatly enhances our employees’ work experience at BD.”

The report also shows that some sectors and regions prefer a pay-for-performance model, with salary increases based on performance happening among 96% of organisations. Other popular recognition incentives amongst participants are: performance awards (91%), showcasing individual successes (83%), innovation awards (61%) and values awards (70%) with the most popular being recognition for length of service (98%).

Mapharisa says EY has a policy on flexible working arrangements based on trusted relationships enabled by world-class working environments and cutting edge technology.

“It is based on the recognition that employees do not have to be in the office, at their desk to be productive, they can be the most productive at a coffee shop, at the beach, at a balcony in the office wherever and whenever they choose to be productive. This contributes to work-life balance and a wholesome feeling of being in control.”

The Top Employers Institute globally certifies excellence in the conditions that employers create for their people. It has recognised Top Employers around the world since 1991. Register for a free copy of the Compensation and Benefit Report:

Source: University of Cape Town, South Africa

Share on Google Plus

About Naijadopest

    Blogger Comment
    Facebook Comment


Post a Comment

Disclaimer: Do not use this forum as a channel to promote hatred, tribalism or any other kind of personal grievances. The administration can delete or edit a post that violates these guidelines. Keep the posts relevant to the topic in an attempt to keep the forum organised and maintain the focus on each topic. Thank you for your understanding.