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Leadway Assurance Shines at 2020 Great Place to Work Awards

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By Dipo Olowookere

One of the insurance icons in Nigeria, Leadway Assurance Plc, has been recognised as one of the great places to work in the country.

The company’s position as one of Nigeria’s most valuable and employee-sensitive organisations was cemented at the 2020 edition of the Best Workplaces award ceremony organised by the Great Place to Work Institute (GPTW).

At the event, which had other notable firms rewarded, Leadway Assurance was declared the winner of the Silver category of the awards ceremony instituted in Nigeria in 2012 by GPTW, a global research and consulting firm best known for producing the Fortune 100 Best Companies list in the United States and similar lists in 45 other countries.

The organisation defines great workplaces as companies where employees trust the people they work with, take pride in their work and enjoy a good relationship with their colleagues.

The Great Place to Work awards ceremony aims at celebrating outstanding performance in the Trust Index and Culture Audit Survey, in addition to showcasing best global practices in employee policies and programmes which exemplify the five dimensions of the Great Place to Work Model, namely credibility, respect, fairness, pride and camaraderie,” the institute said.

Reacting to Leadway Assurance’s feat at this year’s event, the Human Resources Director, Leadway Assurance, Kunbi Adeoti, said the award was a “testament to the company’s dedicated pursuit of excellence in the management of our greatest asset—our people.”

“The acknowledgement given by this award as well as the impeccable reputation enjoyed by Leadway as a trustworthy and value-adding partner to our customers has come through the consistent devotion of employees to operational improvements to promote and maintain a competitive advantage. We will continue to work hard toward maintaining this business approach”, she submitted.

On his part, MD/CEO of Leadway Assurance, Mr Tunde Hassan-Odukale, expressed his appreciation to the staff of the organisation.

According to him, “I would like to thank the staff at Leadway for their contributions to making Leadway a Great Place to Work.

“As we celebrate this unique award, it is my hope and prayer that we will all double our resolve and commitment to making our organisation not just the best place to work, but the pride of the Nigerian employment market and a respected entity globally acknowledged for delivering high performance and creating value for our clients”.

Mr Hassan-Odukale pledged the company’s readiness to continue to invest in best in class skills, tools and processes to aid the provision of a continuously appealing work environment, geared towards producing innovative and comprehensive business solutions as well as delivering sustainable benefits to all stakeholders.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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NIPR Lagos to Hold 9th Stakeholders Conference August 18

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By Adedapo Adesanya

The Lagos State Chapter, the premier branch of the Nigerian Institute of Public Relations (NIPR) in collaboration with Addefort Limited is set to host the ninth Lagos Public Relations Stakeholders’ Conference.

In a disclosure on Thursday, the chapter said that the conference will address Leadership and Poverty Eradication at the MUSON Centre, Lagos on Thursday, August 18, 2022.

The Lagos Public Relations Stakeholders Conference is a bridge-building initiative to interact and proffer solutions to the social, political and economic challenges plaguing our nation.

This edition themed Conversations on Leadership and Poverty Eradication is expected to feature distinguished speakers including; the Governor of Lagos State, Babajide Sanwo-Olu; Mr Tony Elumelu, founder and Chairman, Heirs Holdings; and  Mr Umar Garba Danbatta, Executive Vice Chairman/ CEO, Nigerian Communications Commission (NCC).

Others are Mr Segun Ajayi-Kadir, DG Manufacturers Association of Nigeria (MAN); Mr Kayode Pitan, Managing Director, Bank of Industry (BoI); Mrs Tejumola Abisoye, Executive Secretary, Lagos State Employment Trust Fund (LSETF); Mrs Cecilia Bolaji Dada, Commissioner of Women Affairs and Poverty Alleviation, Lagos State and Dr Oluseye Ajuwon, Economist and Consultant, University of Lagos.

Speaking on the conference, the Chairman, Lagos NIPR, Mrs Comfort Obot Nwankwo, explained that the theme for this year’s edition is timely, adding that the Institute is committed to setting agenda for stakeholders’ engagement and lead the discuss to reawaken national consciousness.

She noted that eradicating poverty in all its forms remains one of the greatest challenges facing humanity; Nigeria is not an exemption, despite the efforts of government in the country, too many are still struggling for the most basic human needs.

On the part of Mr Olabamiji Adeleye, Conference Coordinator & Lead Consultant, Addefort Limited, participants at the conference will include; representatives from government, Public Relations practitioners, economic experts, the United Nations, embassies, corporate organisations, institutions, NGOs, HODs of relevant agencies, and the media among other stakeholders.

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How to Choose an Ideal Price for Your Product

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By Emmanuel Otori

The price of a product determines what customer segment would make demands for them and determines its classification as a luxury good or one for the middle class. There are many factors used in determining the price of a product or service and they can determine your market share.

  1. The Price of Your Competition

Your competition comprises those who have been in the market and established a name, a growing brand, and a network, they could be a startup like you and already have a differentiating factor to make customers rethink should they consider switching to a different product.

You should consider your price range falling into what is affordable for both the existing and new products, therefore, making room for flexibility to accommodate the needed change when it arises. This shouldn’t mean copying what the competition is doing, but watching the changes made by them can give a signal of not just holding the market share but also establishing new connections.

  1. Your Suppliers or Service Providers

The supply chain is a key factor in the delivery of a superb product or service. Some organizations have created synergy with suppliers that make raw materials available all year round and at a stable price, and this helps with consistency, however, this would not always be the case as the price could change, transportation costs could increase or loss due to theft. A selection of suppliers with quality service, integrity and proximity to raw materials is the best bet that can make the product or service delivered at a reasonable price.

  1. Packaging of Your Product

Most products are branded with materials that make the exterior attractive to the customer and take a percentage of what the selling price would be. The acceptance of the “going green” form of packaging that considers reduction in the use of polyethene is gaining recognition, if affordability for your company is fair, and then adopting a material that doesn’t pose environmental hazards, is cheap and easily disposable would make a good price for your product.

  1. Energy needs

Most businesses depend on the power grid for their energy needs and this is a recurring expense that needs to be put into the budget to avoid interruptions in power supply which would affect the day-to-day operations of your business. To complement your primary source of energy, it is of valuable consideration to put in place alternative sources of energy. In determining the overall cost used in producing your goods, the power supply is pivotal.

  1. Cost of Goods

The cost incurred in making a product is referred to as the “cost of goods”, which involves the expense of procuring raw materials, the wage of the labour force, processing, packaging and energy needs. This cost excludes transportation and distribution. Profit on any product or service can only be determined with accuracy when the COGS (Cost of Goods Sold) is known and leading to the possibility of making a sales forecast to know how many units of goods were produced and if all were sold, how much would be recorded as revenue.

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7th African Brands Congress to Attract Critical Stakeholders

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By Aduragbemi Omiyale

Some critical stakeholders in the branding industry will converge on Lagos Sheraton Hotels & Towers, Ikeja, Lagos on Friday, August 12, 2022, for the 7th edition of the African Brands Congress.

According to the organisers led by its convener, Mr Desmond Esorougwe, the theme for this year is Digital Technology AI & IOT: A Catalyst for Brands Growth.

The event is an annual fiesta of the best brains behind the most successful and sought-after African brands. It is meant to stimulate, motivate and excite the creativity in individuals as it is designed to educate, engage and inspire Brands Managers and professionals in the pursuit of best practices in brand building and value creation.

It is an appropriate platform used by stakeholders to discuss how brands in Africa can increase their global competitiveness. It is also used to enhance professional development skills in the area that are most relevant to the business community today.

The congress will provide hands-on skill-building experience for brands and the brand management community.

The focus of this one-day occasion will be to support establishments in the journey of excellence in brand building and discuss and influence the issues of sharing the African brands’ future. The platform will provide an ideal opportunity for interactions among leading companies and keynote interactive discussions.

The programme is packaged by African Brands Media Ltd, a leading brands magazine providing opinions, research and news for all brand owners and industry players.

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