EHIME ALEX, Lagos
The Nigerian Stock Exchange said it envisages significant changes in the world of work in post-COVID-19 pandemic that would require huge investments in partnerships and digital technology by participants in the economy.
Its Head, Trading Business Division, Mr Jude Chiemeka shared the sentiment during the recently held Realities of COVID-19 Webinar organized by BusinessDay.
The webinar was designed to address issues around the Navigating the Uncharted Course on the back of the new realities that the impact of COVID-19 has begun to have on the economy and what could be expected in post-COVID-19.
While responding to questions around emerging business needs, Mr Chiemeka said, “Corporates must understand that we are all entering a new territory where we cannot rely on past competitive advantage. Even before the spread of COVID-19, conversations were rife around the digital economy, and after this pandemic, we can expect the individual needs of businesses to change. Businesses will, therefore, need to make large investment in digital ecosystems that will deliver value in the customers’ journey and protect business integrity.”
He also addressed issues around human capital management, calling for organisations to adopt strategies that can save both the business and its people in post-pandemic.
“Businesses will need to be more transparent in their operations to justify layoffs where necessary, but the crisis has to be managed if the business will thrive post-COVID. It is also important that skill-specific trainings are deployed to ensure that employees have the skill sets required for the emerging economy. Organisations may also be required to review evaluation mechanisms for staff to properly manage talent and ensure service delivery,” he added.
Panellists during the session agreed that there must be collaboration between the public and private sectors to ensure that all aspects of the economy are protected, and that the palliative efforts deployed in minimizing the impact of COVID-19, are meeting the real needs of individuals and businesses.
Chiemeka was a panelist alongside Dr Andrew Nevin, Advisory Partner and Chief Economist, PricewaterhouseCoopers (PwC), West Africa; Ms Nkemdilim Begjo, CEO, Future Software Resources Limited; Ms Toyin Sanni, CEO, Emerging Africa Capital Group; and Mr Lanre Sotunde, CEO, Optima Energy Resources Limited; with Ms Tosin Ajode, Lead Advisor, Deal HQ as the moderator.
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