DEAR EMPLOYER

Let’s face it. This period in Nigeria is very challenging as an employer. The cost of virtually everything has skyrocketed. It is safe to generalize and say everything is costlier than they were even 6 months ago. EVERYTHING!!!

The purchasing power of the average Nigerian has plummeted too. Less Nigerians can buy what they were spending on just months ago. This also means YOUR CUSTOMERS ARE REDUCING BY THE DAY. Yes! Since people’s purchasing power is crashing, it means fewer people may be repeating purchases with you.

Debtors are getting LESS CAPABLE to pay you. Many SOBCA Debtors are even more aggressive these days. When you call them, it turns to a fight. Asking for your money is like trespassing. Because there’s dearth of cash flowing, paying debts is not a priority. Survival is the new priority.

Employees are GROANING. Yes!!! The people who are working for us are trying to make ends meet. Transportation is costlier. Feeding is costlier. Housing is costlier. Childcare is costlier. Etc. Our employees are earning less than before because the inflation has spiked. So a person earning N30,000.00 in January 2021 is now earning N24,900.00 (2021 Inflation rate in Nigeria is 17%). Crazy!!!

So my sincere appeal is this:

1. Pivot: find a real MARKET WANT from your current business and SELL MORE OF THAT. Focus must be GETTING IN AS MUCH CASH AS POSSIBLE.
2. Go Lean: if any service, product or staff is NOT a financial advantage, PLEASE SUSPEND OR REMOVE. If you are not making more, or saving what you have, CUT YOUR EXPENSES.
3. Raise Staff Wages… please consider raising wages. 5%, 10% or if you can, 20%… this will tremendously help your staff. If raising wages is not feasible, rework your work. Let them work from home or assist in dropping them off or support their lunch or DO ANYTHING TO ASSUAGE THE COST OF LIVING.

We will pull through this. We will.

m a k t u b!!!

SO