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How To Retain Top Talent In Nigeria Beyond Paycheques

Author

Praise Chibuzor

Published

January 29, 2025

Last Modified

February 5, 2025

Table of Contents

Summary
If you’re only relying on pay cheques to keep your employees satisfied, the odds are very much against you.

Before we get to business we need to accept this harrowing truth: to retain top talent in Nigeria has never been harder. As an HR manager or recruiter, the odds are very much against you. If it’s not japa syndrome carrying the best of the best abroad to greener pastures, it’s the fierce competition in booming sectors like tech, banking, and oil & gas. It’s safe to say that, you’ve got a full-blown talent crisis on your hands.  

And then as if that’s not enough, replacing talent isn’t cheap. You will PAY—it can cost up to 200% of an employee’s annual salary. So, if you still bank on only paychecks (pun intended) to keep your team, you’re already behind. Far behind.

So behind, that if you were in a race with the tortoise and the hare, both would finish and you still wouldn’t have crossed the starting line.

But you don’t need to panic. At least not if you listen to us. There’s good news: There are proven strategies to retain top talent in Nigeria’s ‘boxing-ring’ landscape, and they go way beyond salary. 

In this blog, we’ll discuss why Nigerian talent is leaving, what you can do to keep them, and how to make retention work for you. Whether you’re an SME or a large corporation, these insights will help you build a loyal, motivated, and high-performing team. 

That being said, let’s get down to business.

Why Your Top Talent is Leaving

Before we get into solutions, let’s understand why employees are leaving in the first place. After all, you can’t fix a problem without knowing its root causes.

1. “Japa”.

Many Nigerian professionals are eyeing opportunities abroad, where salaries are higher and systems work. Who can blame them? With countries like Canada, Sweden, and Finland offering attractive relocation packages, it’s no wonder that skilled workers are packing their bags faster than you can say, “I want to recruit with Proten International.

Here’s the disclaimer, because we won’t lie to you: There’s not much you can do to hold your own against the japa syndrome. Unless you’re willing to spend exorbitant amounts of money.

2. Poaching by Competitors.

In case you didn’t realize, Nigeria is a jungle. Which is why it’s no surprise that poaching occurs. Companies in sectors like fintech and renewable energy are aggressively headhunting the best of the best. If you’re not proactive, your star employee could be your competitor’s next hire. Your competitors are always watching, waiting for the moment when you slip.

3. Lack of Career Growth.

The majority of the current Nigerian workforce consists of millennials and Gen Z, and both want to see a clear path to advancement. Especially Gen Z, who would like to see a yellow brick road appear right at their feet to show them where they’re going. If they feel stuck, they’ll leave—no questions asked. A survey by Jobberman found that 72% of Nigerian professionals consider career growth opportunities a top priority when choosing an employer.

4. Workplace Culture Issues.

A healthy and positive work environment isn’t just about perks and salary. It’s about building trust, respect, and psychological safety. But you might not exactly be doing that, and that’s why your employees keep leaving. Toxic environments, poor leadership, and a lack of inclusion are major red flags for employees. If you want to make sure you’re not the weapon fashioned against yourself, you should check our blog on 6 ways to know if you’re causing a toxic work environment.

5. The Economy.

This is the most obvious reason. We know. We can already hear your tired sigh from where we are. The Nigerian economy, well, is ‘wonderful’. With inflation eroding purchasing power, salaries alone aren’t enough to keep employees satisfied. With only 10% of Nigerians earning above 100,000 Naira, many workers are struggling to make ends meet. If your compensation package doesn’t address this, they’ll look for employers who do. It’s a rat race in the job market, with the best of the best rushing for the highest bidders.

Now that we’ve addressed these challenges, let’s explore their solutions.

How To  Retain Top Talent in Nigeria. Beyond Paychecks.

If you really want to retain top talent and keep them from the prying eyes of your competitors, here are some steps you can take.

1. Competitive but Creative Compensation.

We’re not saying salary doesn’t matter (please pay your employees their salaries) but it’s not the only thing that matters. Nigerian employees are looking for benefits that make their lives easier and more fulfilling.  

– Non-monetary benefits: Like HMO plans, flexible work hours to dodge Lagos traffic, or even training sponsorships. For example, offering to fund certifications like AWS or CIPM can be a game-changer.  

– Profit-sharing models: Align employee success with company growth. When your employees feel like they have a stake in the business, they’re more likely to stay. 

2. Career Development & Mentorship.

Employees want to grow, and if they don’t see opportunities within your organization, they’ll look elsewhere.  

– Clear promotion pathways: Regular performance reviews and skill-based promotions can keep employees on their feet and motivated.

– Upskilling opportunities: Partner with platforms like Proten Learning Academy to provide affordable training. Indulging your employees in training programs shows that you care about their growth. For you, this means higher job satisfaction and improved performance from them.  

– Mentorship: Let senior staff train juniors on the job. It’s a win-win: younger employees feel valued, and older ones don’t have to worry about looking for who will fill up roles if they leave. It’s lowkey all part of succession planning.

 3. Building a Purpose-Driven Culture. 

Nigerian employees, especially Gen Z, want to work for companies that align with their values.  

– CSR initiatives: Highlight your company’s impact on the community. For instance, if your business supports sustainability projects, make sure employees know about it. 

– Inclusivity: Address ethnic and religious biases through team-building activities and open dialogues. Take advantage of the mosaic advantage.

– Recognition programs: A simple “Employee of the Month” award can go a long way in making your employees feel appreciated. You could also introduce a peer recognition program where employees could nominate their colleagues for awards. This small change can lead to a noticeable improvement in morale and retention.  

 4. Leveraging Technology for Engagement

Technology can be a powerful tool to retain top talent. And here’s how:

– Transparent performance tracking: Use performance tracking tools to ensure employees know how they’re being evaluated.  

– Gamify goals: Turn targets into a game with rewards like travel vouchers or extra vacation days. Setting your goals like a game field not only piques interest, it also gets your employees engaged.

5. Legal Safeguards & Compliance 

Finally, make sure nobody can arrest you for your retention strategies. We’re serious. Your retention methods need to be legally sound.  

– Non-compete clauses: Protect your business without stifling employee rights. You can do so by drafting customized non-compete agreements for its clients. This way you can retain key talent while maintaining ethical standards.  

– Labour Act 2024 compliance: Stay updated on remote work and severance policies to avoid disputes. Take time to revise your contracts to align with the new labour laws, reducing legal risks and improving employee trust.  

Pitfalls to Avoid 

While implementing these strategies, beware of common mistakes:  

– Overpromising career growth: If you can’t deliver, your employees will lose their trust in you. Promising rapid promotions but failing to follow through will lead to a wave of resignations.  

– Ignoring generational differences: Gen Z values work-life balance more than any other generation. They prioritize personal fulfillment and job satisfaction over traditional metrics like salary, and they are inclined to reject the “butts in seats” mentality that emphasizes long hours in the office, unlike millennials. We can testify. We have them here too. It’s not that they don’t want to work. It’s just that they need the space that allows them to be innovative. So they usually run towards companies that give them these. If you don’t follow suit, they will begin to leave.

– Skipping exit interviews: These are goldmines of information about your company’s systemic issues. Ignoring exit feedback will lead you to keep losing talent because you wouldn’t know what to fix about how you run your company and its employees. 

Future Trends in Talent Retention

Looking ahead, here are some trends to watch:  

– AI-driven retention tools: Predictive analytics can flag flight risks before it’s too late. For example, AI tools help analyze employee behavior to predict attrition with accuracy.  

– Remote work as a retention lever: Tap into rural talent pools by offering remote opportunities. Providing remote opportunities reduces the costs of transport for them. This takes a burden off their shoulders and makes them want to stay with you longer and work hard to make sure they stay in your company, because not every workplace goes remote.

– Employer branding: Use social media platforms like LinkedIn and TikTok to showcase your company culture. Share behind-the-scenes videos of your company’s team, and let the authenticity attract top talent in the process.  

In Conclusion…

In Nigeria’s competitive jungle, keeping your top talent isn’t just a goal—it’s a business imperative. By offering creative compensation, fostering career growth, building a purpose-driven culture, and leveraging technology, you can create an environment where your employees want to stay.  

So, what are you waiting for? Revise your retention strategy this quarter and start implementing these proven strategies. And if you need a head start, reach out to us today, and let’s help you find the talent you’ve been looking for.

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