Category: Candidate/recruiter

Navigating the Unavoidable Labor Shortage

According to forecasts from the Quebec Ministry of Labor, Employment, and Social Solidarity, over 1.4 million positions are expected to remain vacant in the province by 2026. A similar reality is unfolding across the African continent, posing a significant challenge for employers: meeting human resource needs despite limited availability. This long-term perspective demands a thoughtful approach, uniquely tailored to African realities.

A promising strategy involves optimizing operational efficiency. Automating repetitive tasks, developing employee skills, and recognizing underutilized skills within the team are measures to consider. Technologies such as artificial intelligence and robotics can be leveraged to enhance efficiency, while accounting for local specificities. This approach not only helps achieve more with fewer resources but also enhances employee engagement by offering more autonomy, recognition, and growth opportunities.

Combatting Talent Attrition

While recruitment efforts continue, talent retention is of paramount importance in the African context. In an environment where resources are scarce, losing team members is a luxury few companies can afford.

To retain employees, it’s crucial to rethink offered benefits and working conditions. By aligning salaries with the market, offering improved retirement plans and flexible leave options, you can encourage loyalty. A strong corporate culture also plays a vital role in employee satisfaction. Transparent management, professional development opportunities, work-life balance, and an inclusive and collaborative culture are essential elements for maintaining an engaged team.

Overcoming Disengagement and Resistance to Change

In an environment where engagement is a valuable asset, addressing disengagement and resistance to change is crucial. The pandemic has exacerbated these challenges, requiring a response tailored to the African context.

To boost engagement, focus on a motivating corporate culture that highlights employees’ skills. Encourage their participation in company decisions through collaborative platforms or cross-functional committees. Listen to their concerns, value their suggestions, and maintain strong bonds to strengthen team unity.

Maximizing “Boomerang” Talent Opportunities

In Africa, the concept of “boomerang employees” is gaining traction. In a competitive market, it’s time to reconsider these opportunities. Rehiring former employees can expedite the recruitment process and bring new skills to the team.

Before welcoming a former employee, understand their motivations and openly share developments that occurred during their absence. Also, anticipate future departures and encourage the preservation of professional connections, which may potentially lead to new talent.

Strengthening Employer Brand Beyond Appearances

In the African context, employer branding plays a pivotal role. A positive reputation attracts quality talent and fosters employee loyalty. Investing in a high-performing, well-being-focused corporate culture is a powerful way to attract and retain talent.

Focus on the values that define your organization and create a healthy and fulfilling work environment. Your company’s reputation plays a decisive role in recruitment and retention, as candidates are drawn to employers who share their values.

Fully Integrating Digital Transformation in Talent Management

Digital transformation is a major lever for addressing African talent challenges. Digital tools, such as artificial intelligence and applicant tracking systems, can streamline the recruitment process and provide valuable real-time data. However, a successful transition requires meticulous planning, accounting for local needs and African market specifics.

Redefining the Role of Managers

The role of managers in Africa is evolving toward a more humane and collaborative approach. They must act as coaches, attuned to their team members’ needs. Developing human management and communication skills is essential. Free managers from administrative tasks and encourage them to be inspiring leaders within the team.

Emphasizing Skills Development in the Employee Journey

In Africa, skills development is crucial for enhancing employee experience and organizational efficiency. Invest in diverse and adaptable training methods. Foster internal mobility and transfer knowledge to ensure continuity.

Promoting Equity, Diversity, and Inclusion

By promoting equity, diversity, and inclusion, African companies create positive and high-performing work environments. This requires a strategy aligned with the organization’s values and involvement at all hierarchical levels. Strengthening these initiatives contributes to attracting, retaining, and advancing diverse talents.

In summary, the talent management challenges in Africa in 2024 demand approaches tailored to the region’s specifics. By investing in operational efficiency, retention, digital transformation, skills development, and equity, companies can build strong and high-performing teams for the future.

In the dynamic business landscape of Africa, talent management stands out as a crucial challenge. Human Resources Directors (HR) and CEOs invest time and energy in developing local talents but often find themselves defenseless against the departure of these skills to other horizons. This phenomenon, sometimes referred to as the “talent drain,” requires thorough reflection and solutions tailored to the African context.

Trained Treasures, Lost Treasures

Investments in training are not enough

African companies significantly invest in the training and development of their internal talents. However, many witness, perplexed, the migration of these skills to other, often more established, markets. It is time to rethink our strategies to prevent our investments from evaporating.

Root Causes of the Exodus

The search for new challenges, dissatisfaction with corporate culture, or even uncompetitive compensation can explain the talent drain. However, the key often lies in the implementation of robust retention strategies.

Facing the Puzzle: Some Adapted Solutions

Strengthen Cohesion through an Engaging Corporate Culture

African companies face a cultural transformation imperative to foster a more inclusive and inspiring work environment. Similar to the Japanese management model, which emphasizes proximity between leaders and employees, African leaders must adopt a more accessible and open approach.

Creating a corporate culture rooted in African values goes beyond inspirational speeches; it requires a profound revision of management practices. Leaders must be visible and accessible, establishing a direct connection with employees at all levels of the organization. This accessibility reinforces the sense of belonging and encourages transparent communication.

Similar to the Japanese model, where leaders are often present in the field, African leaders should engage more with their teams. Idea-sharing sessions, informal meetings, and open communication contribute to breaking hierarchical barriers, creating an environment where each employee feels heard and valued.

The openness of African leaders should also manifest in decision-making. Involving employees in the decision-making process, gathering their opinions, and integrating their ideas promote a sense of engagement and collective responsibility. This collaborative leadership model, inspired by Japan, helps build a common vision where each individual feels invested in the overall success of the company.

By embracing this approach, African companies can not only create a corporate culture rich in shared values but also strengthen employee loyalty and engagement. This open and accessible management model contributes to forging a solid organizational identity, conducive to talent retention and sustainable growth. Ultimately, fostering proximity and openness is how African leaders can truly guide their teams towards common success.

Offering Local and Regional Evolution Perspectives

African talents, especially Generation Z, seek challenging opportunities and mobility across the continent. Companies need to adapt their career development programs to meet these aspirations.

Transparent Evolution Paths: Career plans should be clear, showing progression steps within the company.

Intra-African Mobility: Encouraging mobility between African countries provides exploration opportunities and enriches skills.

Mentorship and Coaching: Integrating mentor relationships helps talents overcome challenges and promotes personal and professional growth.

Valuing Local Contribution: Highlighting the local impact of work reinforces a sense of belonging.

By adapting these programs, companies can attract and retain exceptional talents, creating a flourishing professional environment for Generation Z in Africa.

Reassessing Compensation Policies in an African Context

In a complex African economic context, talent retention requires a creative approach to compensation. Companies must remain competitive while considering economic realities.

Prudent Salary Competitiveness: Maintaining salary competitiveness by intelligently adjusting to the cost of living.

Creativity in Compensation: Exploring innovative compensation methods such as performance-related bonuses, non-monetary benefits, and professional development opportunities.

• Equitable Remuneration: Establishing fair salary structures, considering individual contributions.
• Adapted Benefits: Offering social benefits aligned with economic reality, such as health insurance or financial well-being programs.
• Transparent Communication: Clearly communicating the compensation policy, explaining its consideration of economic conditions.
• Financial Flexibility: Providing flexible options, such as remote work, to help employees manage their budgets.

By balancing financial competitiveness and understanding economic realities, companies contribute to talent retention and the creation of a resilient professional environment. By investing in employee financial well-being, they strengthen the employee-company bond and promote long-term stability.

Continuing to Invest in Ongoing Training with Local Content

Maintaining talent competitiveness in Africa requires a proactive strategy centered on ongoing training, rooted in relevant local content. Companies must recognize that the professional growth of employees must align with the specificities of the African market.

Assessment of Needs: Companies must conduct regular assessments to understand developments in the African market and the required skills. This ensures that ongoing training remains in line with changing sector requirements.

Local Partnerships: Collaborating with educational institutions and local experts allows the integration of specific African perspectives into training programs. These partnerships also promote knowledge exchange and the development of a local network.

Strengthening Local Skills: Ongoing training should focus on strengthening local skills, promoting the growth of talents from local communities.

Innovation and Adaptability: Encouraging innovation and adaptability in training programs allows employees to develop skills aligned with emerging opportunities in the African market.

Reducing Unemployment: Effective training programs contribute to reducing unemployment by improving the relevance of workers’ skills in the local and international markets, especially with the opportunities offered by remote work.

By investing in ongoing training with local content, companies contribute not only to the individual growth of their employees but also to the overall economic development of Africa. This approach ensures that local talents remain relevant, competitive, and ready to face the specific challenges of the continent. Ultimately, by investing in education and the development of local skills, companies shape a prosperous future for Africa.

Conclusion: Let’s Value Our Human Wealth

The talent exodus can be transformed into an opportunity for local growth. African companies must take a proactive approach, rethink their talent management strategies, and invest in solutions that consider the continent’s specificities. By creating an environment where talents feel at home, offering concrete career development perspectives, and recognizing the value of each employee, African companies can not only retain their human treasures but also nurture sustainable growth. It is time to move from concern to action, transforming our human wealth into an invaluable asset for Africa.

Investors’ growing interest in the environmental, social and governance (ESG) aspects of investments is perfectly matched by their enthusiasm for infrastructure. ESG is the alpha and omega of infrastructure,” exclaims Charles Dupont, Head of Infrastructure Finance at Schroders. In essence, we finance assets that demonstrate a strong social utility. Our business is based precisely on an analysis of the balance between economic profitability and social interest. ESG aspects are the primary source of risk,” he points out. Proof that green finance and infrastructure go hand in hand is the fact that half of the 34 funds with the Greenfin state label are infrastructure funds (debt or equity).

At a time when the climate emergency is making the headlines, this concern is prompting us to take a fresh look at certain assets. Digitalization and de-carbonization of the economy are two strong trends,” says Harold d’Hauteville, head of infrastructure at DWS. Some time ago, we looked at a port asset whose activity was largely based on the transport of coal to power plants in Germany. We preferred not to do so. Conversely, data centers powered by clean energy can be interesting assets.”

Increasingly diverse assets

The growth of the market is allowing for increasingly targeted strategies. “We are initiating niche strategies where our expertise and commitment sets us apart from traditional players,” summarizes Johnny El Hachem, managing director of Edmond de Rothschild Private Equity. One example is the PEARL Infrastructure Capital fund, which focuses on water, waste management and renewable energy, with the ambition of promoting the circular economy.

The diversity of assets and their rapid evolution requires the use of more and more different expertise. This market is shifting from a system of fixed tariffs guaranteed by governments to over-the-counter energy sales contracts, which makes credit analysis more complex,” explains Philippe Garrel, head of the RE infrastructure funds at Acofi Gestion. And the assets themselves are also becoming more complex, with energy storage complementing traditional wind and solar projects. This complexity is also a source of barriers to entry for the managers of these very special assets.

Emmanuel Schafroth    

Source : https://www.lesechos.fr/finance-marches/gestion-actifs/linvestissement-esg-sepanouit-dans-les-fonds-infrastructures-1140078