Employee costs from payroll and other benefits are significant expenses in all organisations and are often the highest expense in service businesses. The payroll function is also probably the only function that affects every employee. Therefore, payroll management is a critical strategic skill that requires an in-depth understanding of statutory compliance, detailed tax knowledge and a highly efficient and organised system that can be relied on to minimise errors and maximise value.
Similar to Germany and the United States, the Nigerian HR and Industrial Relations environment has been described as highly “legalistic”. This is because, in addition to its Common Law origin, the Nigerian System has witnessed an increasing growth and influence from other sources of Law – especially since 1968 when the era of voluntarism was officially brought to an end.
You will agree that the last 2 years have brought more workplace changes since the Industrial Revolution. Whether it was the pandemic, social unrest, working from home, or political turmoil, it exposed gaps in our ability to adapt, engage in uncomfortable conversations, monitor the creeping influence of technology, drive employee productivity and much more.