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SEASON OF JOB LOSS: HOW TO SURVIVE THE TSUNAMI

The gale of job losses being witnessed in the country due to the current economic hardship has caught up with Ecobank Nigeria, which has sacked over 1,040 of its employees.

The PUNCH reported on Tuesday that Diamond Bank Plc sacked over 200 members of its workforce, while FBN Holdings, the parent company of First Bank of Nigeria Limited, recently said it would prune the number of its employees by 1,000.

Top officials of the pan-African lender confirmed to our correspondents that the initial list of those to be sacked had over 1,400, workers but was later reduced to “a little above 1,000.”

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Ecobank spokespersons declined to comment on the number of workers who were disengaged.

However, the lender said in a statement that it had converted over 200 outsourced personnel to permanent employees as part of its drive to attract and reward talent, while also repositioning for improved efficiency.

In line with the recognition of excellence, the bank also said it had recently implemented a merit-based pay increase for the top performers across all cadres.

The Managing Director, Ecobank, Mr. Charles Kie, was quoted as saying that converting qualified outsourced staff to permanent workers was in line with the bank’s commitment to developing and growing talent by nurturing its people along their career paths and giving them access to higher responsibilities.

He said the bank was resolute that recognizing and rewarding excellence would drive its goal of achieving exceptional performance in the industry.

Kie said, “The bank, in its renewed drive for optimal performance, has in addition realigned certain roles bank wide to ensure improved efficiency. This necessitates the exits of some staff that were adequately compensated.

“This is in furtherance of a market repositioning exercise designed to strengthen the bank’s business across all markets where it operates.”

He emphasised that the ETI was on a trajectory to achieve leadership and that the Nigerian subsidiary remained one of Ecobank Transnational Incorporated’s major

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Nigeria’s unemployment crisis worsens; rate jumps by 518,000 in 3 months - NBS - Premium Times Nigeria

Nigeria’s unemployment crisis worsens; rate jumps by 518,000 in 3 months - NBS - Premium Times Nigeria: Women and youth were the most affected in the labour force age bracket, the report says.

Self Employment Remain The Best Solution To Unemployment

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THINK LIKE AN ENTREPRENEUR AND LIVE LIKE A BOSS

In order to BE a self-employed person I had to start thinking like one. I found myself reverting to that nine-to-five mentality.  If I wasn’t accomplishing a task every hour, then I must not really be working. 

Sometimes a self-employed person has to make decisions about his business.  Sometimes he is just thinking about a solution to a problem. Sometimes he just has to quiet his mind so new ideas can come. Just because you’re not pounding away at the computer system every minute doesn’t mean you’re not working.

I’ve also learned that it’s okay to answer the phone every time it rings.  That’s why SMS and chats are also created to add value to business communications, and the same goes for email.  At my nine-to-five job I would leave the email program open all day and answer each one as it arrived.  It took me a while to realize it’s okay to only check email several times a day instead of constantly being interrupted. It’s actually more productive than having to stop your thought process every time “you have mail.”

You’re going to have days when you feel you didn’t accomplish much.  Then again, you’ll have days when you’ll feel you can conquer the world and you’ll be amazed at

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TOP 5 REASONS WHY SELF-EMPLOYED PROFESSIONALS SHOULD TAKE VACATION

So you think you're not justified in taking time away from your business because you're self-employed? Few weeks back, I had a couple of requests for business plans and content marketing developments for some clients, two of my clients are not even living in Nigeria, as a matter of fact, their expectation of me was very high in terms of what am suppose to deliver to them. These projects made me stay awake sometimes till 3.am in the night consecutively, and the weekend that follows those nights were also busy with other activities.

However, on Monday, I found out that my energy level had dropped due to fatigue and mental stress occasioned by conceptualizing bespoke ideas for my clients, my voice became cracked, I felt tired almost the entire day and had to leave office earlier than I used to. It was later I realized I shouldn’t have been to the office on Monday even though it’s the first day of the work week; I should have taken the desired rest to rejuvenate the body system.

Therefore, for so many other entrepreneurs and self-employed professionals out there, there is always time for you to take the desired rest as you keep up the hustle; here are five great reasons why you should definitely take a vacation.

1. PHYSICAL BREAKDOWN OF BODY SYSTEM: You work hard to grow and maintain your business. Trying to be superhuman will certainly take its toll if you allow it to. Give your body a break by taking in some Rest and Relaxation.

2. MENTAL DOWN TIME: Your days are filled with busy, sometimes even hectic, day-to-day activities related to your business. If you don't allow yourself to get away from it once in a while, your peace of mind and general well-being will most definitely suffer. Get out and play. Your mind will thank you!

3. SPENDING TIME WITH LOVED ONES: Your family and friends see you working, working, working, and sometime rarely coming up for air. Both you and they will appreciate spending some quality time together.

4. SEE THE WORLD (OR YOUR OWN BACK YARD): The important thing is to do something you enjoy, whether it's traveling or, if that's not your cup of tea or you

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