While professional employer organisations (PEO) in Nigeria should be well-known for providing services such as benefits and payroll, they are capable of much more.
To attract and retain the best talent in today’s competitive workforce environment, for-profit and non-profit organisations are constantly looking for strategic advantages and cost savings.
In addition, with many organisations embracing workforce virtualisation, outsourcing as much as possible has grown in popularity.
Several multinational organisation leaders are aware of the existence of PEOs but are likely unaware of the broad scope of PEO services in Nigeria, available. However, a PEO in Nigeria could offer much more than employee benefits and payroll, some of which may surprise you.
You’re probably aware that a professional employer organisation (PEO) can assist you with payroll and benefits. However, that is not all it has to offer.
Many PEOs in Nigeria, such as Workforce Africa, provide services that can be just as beneficial, if not more, to your employees and organisation.
Before you choose a PEO company in Nigeria, consider the following little-known PEO services.
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Considerations for Choosing a PEO Company in Nigeria
1. Performance management and employee retention
A PEO can implement and manage a performance management system, which can assist business leaders in identifying top performers and employees who may require assistance in their organisation, even within their remote teams.
Employee retention can be improved by recognising and assisting those performing well. Another essential service provided by a PEO is performance management assistance.
A PEO in Nigeria can assist your organisation in developing and implementing employee performance evaluations.
They can also help you with legal compliance and workplace training on topics like team building, employee counselling, discrimination, compliant procedures, violence in the workplace and sexual harassment
2. Employee coaching and learning
Coaching assists people in discovering their inner purpose and passion and connecting it with outer goals and tasks to achieve extraordinary and long-term results.
Employees who have participated in ongoing coaching have reported numerous advantages. Among them are improved work performance, communication skills, time management, and team effectiveness.
In addition, such benefits frequently result in increased organisational productivity – a significant return on investment (ROI).
Professional coaching is a growing industry that can be expensive if you try to obtain these services independently.
A PEO in Nigeria also provides certified training and development consultants who can assist you in identifying your organisation’s training needs and facilitating various types of training within your organisation.
3. Succession planning
All organisations experience constant change. Whether an employee is promoted or retiring or your organisation is expanding, succession planning is critical to ensuring your business can continue to grow despite these changes.
This can help you understand what knowledge, skills, and abilities are currently available in your organisation and where there is room for growth. Succession planning analysis can assist you in the beginning to closing the talent gap.
A PEO in Nigeria can frequently assist you in developing your employees or, at the very least, determining whether current employees could be the next leaders in your organisation.
When done correctly, this process can boost employee loyalty and engagement while decreasing downtime and recruitment costs when employees leave your organisation.
4. Employee survey
Employee surveys are an excellent way to learn what your employees are thinking. PEOs can help business leaders design and implement an effective survey, evaluate the results, and develop an action plan based on the data.
Surveys assess employees’ perceptions of their work environment, leadership team, and workplace culture. Communication, commitment, trust, engagement, and benefits are some of the areas that surveys may measure.
Employee surveys fall into three categories, which PEOs can help with:
- Employee opinion and satisfaction surveys: Determine employee attitudes, beliefs, and perceptions.
- Employee culture polls: Assess whether employees’ perspectives align with those of the organisation and its departments.
- Employee engagement polls: Assess employees’ dedication, motivation, sense of purpose, and enthusiasm for their jobs and the company.
The value of employee surveys lies in the results and the discussions about the results that occur between your organisation and your PEO.
A good PEO in Nigeria will give an in-depth presentation that explains the statistical data and what it means for your organisation and suggests specific action plans.
5. Business advisory
PEOs can assist global businesses in growing sustainably by providing data that can be used to forecast growth and predict future budgets, office space requirements, and other factors.
With our professional business advisory services, budgeting, financial forecasting, and strategic planning, working with a PEO in Nigeria like Workforce Africa can help ensure your business is on the right track.
Forecasting is a critical business discipline. Translating your business plans and ideas into financial terms such as profits, assets, and cash flow is beneficial.
This also aids in the evaluation of management decisions, the prioritisation of ideas, and the quantification of any funding requirements.
6. Strategic planning
An organisation lacks focus if it does not have a strategic plan. Nigerian PEOs have HR specialists who can assist you in developing your organisation’s mission, vision, and value statements.
These specialists will work to gain an understanding of your organisation’s products and services, core business objectives, and the importance you place on human capital.
Furthermore, they will work with various groups within your organisation to provide advice consistent with your brand and culture and appeal to the local market.
This includes having business acumen – understanding how your organisation makes money and providing guidance on improving the money-making process from a human talent standpoint.
The HR specialists will also assist you in collecting and measuring HR and organisational data related to turnover and retention, labour costs, pay equity, compliance, diversity, and more as part of our service at Workforce Africa.
These data-driven insights, known as “people analytics,” will be used to improve the way you do business in Nigeria and provide clear benchmarks for future improvements.
And, with your organisation’s talent and goals aligned, you’re more likely to overcome unforeseen challenges and achieve your objectives.
7. Recruitment services
We’ve all heard of the talent war, but finding and retaining top talent will remain a top priority for businesses everywhere, even after it dies down.
A PEO in Nigeria can help with all aspects of recruiting, such as creating job advertisements, candidate sourcing and screening, interviewing, offer letter consultations, and more.
PEOs can also perform salary benchmarking and compensation analysis as they know the terrain. The PEO’s recruiting experts will review third-party salary data to ensure that each position within your organisation is fairly compensated.
These services can be used for both internal and external job postings, and they can confirm that current employees are being fairly compensated, which can help attract and retain top talent.
8. Compensation services
PEO in Nigeria can provide your organisation with compensation services besides salary surveys. In addition, some PEOs provide direct advice from people who understand the intricacies of employee compensation.
A good PEO will also be able to assist you with:
- Compensation planning – the process of aligning your organisation’s mission, culture, business, and human resource strategies with your compensation philosophy or strategy.
- Compensation philosophy/strategy – creating a compensation structure that integrates various compensation elements such as base salary, short- and long-term incentives, compliance, market competitiveness, internal alignment, and affordability.
- Pay-for-strategic-value – assisting in aligning your employee’s pay with their projected contributions to achieving your company’s strategic priorities.
These seasoned PEO professionals frequently have knowledge and experience from a variety of industries. This allows your organisation to design a meaningful compensation program that meets the expectations of talent in your industry and the current market.
9. Compliance service and training
Regulatory compliance can be confusing and costly, making it easy to be intimidated and worried about the potential for fines and errors.
A significant advantage of partnering with a PEO like Workforce Africa is that our compliance experts stay up to date on employer regulations, so you don’t have to.
In addition, we offer compliance training on a variety of topics so you can focus on projects that will help your business grow.
PEOs can assist you in establishing and maintaining a safe work environment and closely examining your claims history to identify accident trends and workers with repeat claims.
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In Conclusion
Benefits and payroll services are essential – but PEOs do so much more than that.
The recruiting services, professional training, risk management, and employee survey services provided by PEOs in Nigeria can help global businesses develop well-rounded, data-driven business operations.
If you’re looking to simplify your business even more, Workforce Africa’s offering may be just what you need.
