So he called yday, I have sent something to you on whats app kindly check and I did.
N1.5M of cash spent on talent went down the drain in that document. He was resigning after three months and even wished me well.
This is the story of trying to attract talent and keeping them in such a technical area. In the last 9 months, I have frittered away over 5 million on this matter.
They come and go. Sadly in my case, I do not get capacity since in my desparation to fill up the gap, I get to hire incompetence.
One only came to work when she was in a good mood. The other was an exam addict as he enrolled for every professional exam in this world during which you will not reach him by phone.
This last one was unique. I liked him, he looked calm and had experience. Over 14 years in the space, he came with the maturity that was required to run the franchise.
We are a small franchise but with huge potentials. We play in the Oil and Gas, Real Estate, Media and Technology space and we have done some major transactions that has made us proud of ourselves
But we have reached a point where the two founders will need to detach and allow fresh minds take it from there
The vision was never to run the firm for eternity as I had other visions to complete. I am a gadfly and cannot be pigeon holed in one box anymore
My partner is much sort after and has delivered solutions to International investment structures and is currently into huge advocacy in the finance industry
Our story of securing credible talent at whatever cost has been that of a huge failure.
The contradictions of the Nigerian work place hitting us squarely in the face.
We have over 20% unemployment amongst people of working age in the country and yet you can’t find credible talent to hire.
This I suppose is as a result of the destroyed educational sector which keeps throwing up demented talent.
Another reason could be the trend of the time, where short term approach to career fulfillment seems to be the thing.
People no longer want to go thru the rigours of discipline and tutelage. Everybody wants to peak in 6 months and this is why I am getting a 25year old asking for N500k a month, BuPa Medical Cover and flexible work hours.
She sold herself and we gave her the opportunity only for her to quibble at the first work challenge she got.
My discussions with some colleagues show the same experience. Latent talent with no discipline and focus.
How then would we build enduring firms who will now create the wealth and sustain the economy
Employers are afraid to embark on robust training cos of the fleeting nature of the labour pool.
Imagine if I had sent this person to the Lagos Business School what would have come out of that investment
Three months with no main output. An innovative Real Estate project waiting for a vision paper and after three months, we get a resignation rather than a workable document.
This brings me back to my early days as an investment banker. I really don’t like the stress of nostalgia but cannot help it in this matter
The discipline, the focus, the depth and the eagerness to contribute all leading to a cohesive force that propelled the firm into a cauldron of positive energy
The vibe is missing in today’s labour force. What you get are entitled young guns who come to work like lazy dummies and move around like well-dressed air heads.
So as we meet on Friday, to better domension the next steps, my partner and I are looking at going back to our original model of having a horizontal internship structure.
What this means is that we retire from semi retirement and start pushing again along our two identified throttles – corporate finance and Business development
But this time work with young interns who will give secretarial and operational back up as we inch towards increasing our market presence.
What this does for us is that it gives us a ready operational base of cheap labour that can be molded towards our culture while making allowances for the flexibility that will come with a continuous revolving door of young talent.
This way we would not be saddled with expensive buffonrey and time wasting wanna be who only take up space and distract.
But a permanent solution to the challenge of talent must be found and very quickly if we are to have but a fighting chance.
Really very intriguing that we have a huge pool of unemployed labour and yet we can’t find credible talent in it.
Sad
Duke of Shomolu
