Banks, Nigerian Companies Adjust Employment Requirements As More Workers Seek Opportunities Abroad

Banks, Nigerian Companies Adjust Employment Requirements As More Workers Seek Opportunities Abroad

  • Several companies in Nigeria are now adjusting job requirements for certain positions in an effort to fill vacancies
  • This is because of increasing staffing shortages, alleviated by more Nigerian youths seeking opportunities abroad
  • To address worsening labour shortages, employers are now relaxing their requirements, especially on university grades

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With many Nigerian workers resigning and looking for opportunities abroad, Nigerian companies are now forced to adjust job requirements to fix labour shortages.

According to the findings of a study of job listings on recruitment websites, a few Nigerian banks, including Access Bank, First Bank, Guaranty Trust Bank (GTB), First City Monument Bank (FCMB), and Polaris Bank, have all reduced the minimum eligibility criteria for their 2022 graduate trainee programs.

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Before now, applicants must have the usual second-upper class (2.1) and first-class grades to qualify.

Nigeiran workers seek opportunities abroad
A cheerful female manager speaks to a staff Credit: SDI Productions
Source: Facebook

But with the rising number of job vacancies and unexpected workers' resignations, banks have been forced to adjust employment requirements to start from a second-class lower grade (2.2).

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HR managers confirmed this growing trend, revealing that their jobs have become more difficult as a result of having to process a large number of resignations, the majority of which are due to studies and relocation.

HR managers speak

A Director of Transquisite Consulting, Jennifer Oyelade, while commenting on the recent employment criteria by some firms in Nigeria, said;

"They've realized that they can't keep judging applicants solely on theory if they've never assessed their competency.
"As a result, they're casting a wider net in search of the underdogs who can lead the flock."

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Also Oludayo Sokunbi, Chief Executive Officer at Japa Consult commented on the mass resignation stating that some of these banks had to reduce their employment criteria because those with first and upper-class grades have a better chance of getting scholarships abroad than those with lower grades.

He went on to say that businesses have discovered that grades do not define a person as long as they are willing to learn.

In his words:

"Those with lower class have a higher retention rate because they have fewer opportunities for scholarships.
"They discovered that people with lower grades can adapt to work and are more versatile because some of them may have participated in school activities that may have affected their chances of getting better grades."

A search for a better life

Few other professionals have also stated that this current surge in migration has led to a scarce talent gap, which is putting organisations on edge for them to begin to consider second-class lower students in their recruitment process.

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Data from the British government revealed that the number of Nigerians granted student visas increased by 222.8 per cent to 65,929, the highest in four years in June 2022 from 20,427 in the same period of 2021.

Flipside good news

While the resignation may be disadvantageous to Nigerian businesses, it will provide opportunities for employees at lower levels of the organization to be promoted to fill more senior vacant positions.

This could also be an opportunity for unemployed Nigerians to get a shot at being employed, which could reduce the unemployment rate in the country.

PWC cancels strict requirement

In a recent announcement, top accounting firm PwC has announced that it has removed a requirement that new employees achieve a minimum of a 2:1 at the university.

The accounting company, a leading employer, also removed the requirement from its internship and placement programmes.

FG releases names of 19,847 companies that can apply for its contract in 2022

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In another report, the federal government produced a list of 19,847 Nigerian firms eligible to bid on ministry contracts.

The list was produced based on companies' compliance with employee pensions and insurance.

The companies listed are from media to health and agriculture and banks, among several others

Source: Legit.ng

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