High performance culture key to sustaining economic, organisational growth
For organisations in Nigeria, especially the financial institutions to grow and drive productivity in the economy, experts have said they must build and sustain a high-performance culture, discipline, and also be able to recognise the importance of employees in achieving their set goals.
According to the experts, high performance culture can be achieved if only an effective performance management process, capabilities, as well as execution strategies are effectively put in place.
Speaking in an interactive session in Lagos, organised by FranklinCovey Franchise, to help companies with transformation strategies to improve performance, Chairman, Restral Limited, Ifueko Omoigui, said apart from the challenges of operating in the Nigerian business environment, there are barriers preventing businesses from achieving a high performance culture.
According to her, the barriers which prevent businesses from achieving a high-performance culture, in turn, slow down the pace of growth and development in the nation’s economy.To address the issue of capability and productivity, Omoigui, a former chairman, Federal Inland Revenue Service (FIRS), said Restral has launched an All-Access Pass, to ensure organisations understand the intricacies of executing their business strategies.
Explaining that the access is renewable every year, she said: “The capability to manage an organisation is essential to any organisation, and if an organisation does not have the capabilities, then the Access Pass can help them build these capabilities.“Furthermore, an execution process, especially the four disciplines of execution which involves having a goal, compelling scoreboard, cascading the goals down to the entire organisation, and having a sense of accountability and evaluation needs to be in place to build a high-performance culture.”
Corroborating her, Former Executive Director, Wapic Insurance Plc, Oyebode Ojeniyi, said many companies in Nigeria have continued to rely on rigid and archaic management models.
He maintained that to achieve sustainable growth, commitments are required from companies to build a culture that can adapt to ongoing changes in a competitive environment.“To drive a high-performance culture, institutions need to implement an effective performance management process, create empowerment and increase leadership capabilities at all levels and develop a customer-centric strategy.“With all these, the real vision of any organisation begins to crystallise only after leaders create organisation-wide buy-in from and engagement among employees,” he said.