- Tomi Otudeko, Honeywell Group’s Head of Corporate Responsibility & Services advised new business owners at the LSETF Business Sustainability Series last week
- During the session, she mentioned the need to treat staff as treasured assets, not mere possessions that can help build the company
Tomi Otudeko, the Head of Corporate Responsibility and Services for Honeywell Group advised companies against preventing their staff from moving on. She highlighted the need to invest in talent, treating them as loaned assets, nurturing and encouraging them to grow and being ready to let them go if the time comes. Tomi made this statement while facilitating a webinar on Business Sustainability & Succession Planning organized by the Lagos State Employment Trust Fund on Wednesday, August 26, 2021.
She emphasised the need for businesses to invest in their talent and create opportunities for them. “For you as a business, you should allow on-the-job learning. It is our responsibility to let people learn and grow. Yes, investing in employees is a risk, but choosing the right people to employ can help minimise the risk. However, the possibility of employees leaving should not be the driving force of determining whether or not to invest in them.”
During the session, she shared how Honeywell Group has built its talent base since its inception in 1972. From trading in food to other commodities in the 70s to an investment company with portfolio companies in various key sectors of the company, the goal of ”impactful value creation that transcends generations” has continued to drive the company.
On how they have been able to retain talent, she explained that “as Honeywell employees, we have a responsibility beyond ourselves. It transcends profit-making. We believe firmly in impacting our communities.
“So, it is not about you as the business leader, it is critical to work with people to share your values. You want them to understand the journey and to want to play critical roles in that journey.”
Tara Fela-Durotoye, the CEO of House Tara and Fajimi Abiola, the CEO of PML Advisory, also gave compelling insights into methods for transforming a small business into an empire and on financial planning and forecasting.