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Jobs/Vacancies / Underemployment And Startups In Nigeria by nonny158(m): 1:30pm On Feb 05, 2021 |
The increasing rate of technological adoption in Nigeria has opened the economy to a vista of limitless opportunities in exploring the benefits of technology. Technology has brought with it, Startups - small-scale firms that leverage technology to disrupt the modus operandi of existing industries by efficiently proffering new solutions to old problems. In Nigeria, Startups cut across various industries including but not limited to Finance, Agriculture, Hospitality, Real Estate, Fashion, Retail Food etc. Despite the poor ease of doing business in Nigeria (at 131 of 190 in 2020 ), Startups are gaining momentum propelled by the digitization of the domestic and global economy, increasing rate of internet penetration (currently at 65.3%) and the seamlessness of its solutions. While Startups have been commended for reducing the level of unemployment in Nigeria by employing fresh graduates either as Interns or as Full-time Staff, its contribution to the growth of underemployment in Nigeria is mostly overlooked. The level of underemployment in Nigeria has grown from 18.3% as at Q2’2015 to 28.6% as at Q2’2020 and the number of Startups in Nigeria has recorded growth within the same period. While we can’t totally attribute the increase in underemployment to only start-ups, they have a role to play in reducing the level of underemployment in Nigeria. Recent discussions with employees of some young Startups in Nigeria reveal that most startups set the remuneration of entry level employees (degree holders) between N50,000 to N80,000 monthly compared to other industries in Nigeria which is mostly a minimum of N100,000 in addition to other benefits (Pension, provision for Transportation, HMOs and others) which are usually not provided by Startups. This increases the rate of underemployment with negative multiplier effects on the lifestyle of the Startup employees and their dependents, as low-income levels coupled with the nation’s high inflation rate of 15.75% (December 2020) and its devalued currency, will drastically reduce their purchasing power. Despite the uncompetitive pay, the rate of unemployment in Nigeria leaves most employees at the whims and caprices of their employers, hence, they are compelled to accept the offer. The rate of career growth is also slow, the employees may remain on that salary scale for more than 18 months hoping for the next seed funding from new investors. While Startups may not be entirely blamed for the poor salary structure (as they create employment), more can be done to improve their value-add not only to their external stakeholders (customers and investors), but also, to their internal stakeholders (mostly employees). What is the way forward? It is common knowledge that Start-ups usually have slim bottomlines which relatively justifies their poor remuneration, more efforts should be made by founders and co-founders of Start-ups to ensure that they have “a clear vision” for commensurately rewarding their employees for their efforts. 61% of Start-ups fail in Nigeria and if their employees are not efficiently rewarded during their period of existence, they are plunged back into unemployment, a fair-enough salary should provide them with savings which they can fall back to during the period of unemployment. Is it fair to have a “Union of Start-Up Employees?”, while this may be argued against, the level of underemployment in the Tech space may lead to the creation of a Union to protect their rights. In addition, idea-creators (founders and co-founders) can come together to aggregate their ideas to create a bigger and more rewarding Start-up as against the usual practice of the establishment of pocket firms with good ideas and little or no resources to scale or reward their employees. Thank you. Chinonso Osuji An Investment Analyst in Lagos. |
Health / Re: Could This Be STD Or Bad Immune System? by nonny158(m): 6:40am On Oct 29, 2019 |
You may need to go for an x-ray. This may be Pneumonia, if you still have cough then there’s a possibility that you have TB |
Car Talk / Re: Could This Be The First Lamborghini Urus In Nigeria? (photo) by nonny158(m): 7:44am On Mar 23, 2019 |
It’s owned by Jowizaazaa, he bought it for himself as his birthday gift |
Celebrities / Re: Helen Paul And Husband, Femi Bamisile 2010 Throwback Photo by nonny158(m): 10:37am On Mar 21, 2019 |
Nice |
Educational Services / Re: Ask Me Any Question At All As Regards ICAN Examinations & Prospect Of Accountant by nonny158(m): 11:33pm On Jan 18, 2018 |
Hey batty, been a while. How have you been? Battywonder: |
Career / Re: ICAN November 2023 Diet Exam - Let's Meet Here by nonny158(m): 3:20pm On Jan 17, 2018 |
please send foundation to chinonsoosuji06@gmail.com. Thanks |
Sports / Re: Billboard Of Cristiano Ronaldo Selling Frozen Chicken At Ipaja (photo) by nonny158(m): 9:22am On Jan 15, 2018 |
Lol... Barca fans won't patronize this store 1 Like |
Romance / Re: Ladies, Can You Get Married To A Non Degree Holder? by nonny158(m): 6:53am On Oct 26, 2017 |
FYI, do your research properly. Mark dropped out of Havard University, he had a dream bigger than the degree and most of the rich guys you made reference to are not dumbasses. Steve Jobs dropped out of Reed College in Portland. These are exceptionally smart chaps, so you don't put them on the same pedestal with ordinary peeps without a degree. crixuss: |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 8:17am On May 18, 2017 |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 8:17am On May 18, 2017 |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 8:16am On May 18, 2017 |
Anambra Kopers... Join, lets connect and make our stay worthwhile! https:///98BwbJ5qb50ErkNt9U4ZZv |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 8:01am On May 18, 2017 |
Lets make it happen! Whatsapp group for Anambra corpers https:///98BwbJ5qb50ErkNt9U4ZZv |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 7:45am On May 18, 2017 |
AnambraKopas... any whatsapp group for us? |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 7:43am On May 18, 2017 |
Anambra corper too... Umunya, here we come! toogbasky: |
Politics / Re: Abdulmumin Jibrin's Wife, Maryam Is Pregnant (Photos) by nonny158(m): 12:47pm On May 17, 2017 |
okay |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 11:16am On May 05, 2017 |
Vicrown:Jeez... na wa oo... These guys are ridiculous, after i thought I have found a safe haven. |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 9:47am On May 05, 2017 |
Vicrown: Okay bro... Thanks |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 7:39am On May 05, 2017 |
Vicrown: Okay bro... Do well to help me with the tests you did so that I can do same too... Thanks for ur prompt response |
NYSC / Re: NYSC 2017 Batch A Corps Members House by nonny158(m): 6:49am On May 05, 2017 |
Hi... Pls can I knw d tests you did for this amount cos i intend doing my tests in d same hospital... Thanks Vicrown: |
Phones / Re: Nokia 3310 Specs & Price In Nigeria by nonny158(m): 1:17pm On Feb 27, 2017 |
Oga abeg, u no gree N3,310? |
Business / Re: Benefits Of CBN's New FOREX Policy by nonny158(m): 1:38pm On Feb 21, 2017 |
I hope the invisible hands that are always working against the efficient implementation of the CBN's policies do not interplay to make this well thought out policy ineffective. 1 Like |
Career / Re: How To Write A Good Sales Pitch Letter by nonny158(m): 6:39am On Dec 21, 2016 |
really insightful |
Education / Re: Tell Flora Shaw! A Passionate Poem By Anita Abada by nonny158(m): 7:35am On Oct 23, 2016 |
@Mod. Front Page please... This message is really strong. |
Education / Tell Flora Shaw! A Passionate Poem By Anita Abada by nonny158(m): 7:27am On Oct 23, 2016 |
TELL FLORA SHAW Tell Flora Shaw, that the child she named is now a 56year old woman yet she has refused to walk but crawls on her stomach and sores her skin ** Tell Flora Shaw, that this child is ashamed of her root of the ruins of her land of the corruption of her children and of the tears of the youths ** Tell Flora Shaw, that she god-mothered a child who has lost her way she wallows in an ocean of uncertainty and confusion swinging to and fro as a see-saw Irregular in her dealings ** Tell Flora Shaw, that we live a chained independent life that the youths have been relegated to the backgound that education is no longer a means to a good life and graduates trek the streets with envelopes moist with sweat tell her, that the youths have packed their emigration bags and just like they thought the black skin is now a plague that scorns us ** Tell Flora Shaw, That the man who led our forefathers has come again he's on the street begging for our loyalty and just like the first time we swore him in again and he has so soon forgotten us tell her, that our leaders are liars and once again they played on our intelligence ** Tell Flora Shaw that I saw Fela in my dreams last night holding up a placard that read "sorrow,tears and blood" tell her, that E GO BETTER is now our national anthem that the rich eat their bread alone; yet covets the crumbs of the poor and walk around with pot of greed as stomach ** Tell Flora Shaw, tell her, that yesterday Ogbuefi went to the market but came back empty handed because the 200 currency that got him a land can no longer buy a cup of garri Today he is lying on his bed breathless and foaming in his mouth an otapiapia lying close to him he too has left us in this struggle just like the others ** Tell Flora Shaw. @annie_poetic Diary of a deranged poetess
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Career / Re: Learn Microsoft Excel In 8 Weeks On Whatsapp This November. Register by nonny158(m): 11:44pm On Oct 21, 2016 |
Thanks for this opportunity. I'm really interested. Chinonso Maxwell, Lagos, Nigeria, +2347061166898 |
Career / Re: Help! I'm Seriously In Need Of A Temporary Job In Lagos As I Await My NYSC by nonny158(m): 8:43pm On Oct 15, 2016 |
Thanks for your advice bro, i actually have that plan as a last resort... i appreciate. FunnyDude: |
Politics / Re: "The Other Room" Trends On Twitter. Nse Ikpe Etim Joins by nonny158(m): 4:12pm On Oct 15, 2016 |
This is a practical example of how clueless some of our leaders can be without their aides drafting speeches for them. it is really a national disgrace...#ObservingFromMyRoom |
Career / Re: Help! I'm Seriously In Need Of A Temporary Job In Lagos As I Await My NYSC by nonny158(m): 6:36am On Oct 14, 2016 |
Any area bro.... Battywonder: |
Career / Help! I'm Seriously In Need Of A Temporary Job In Lagos As I Await My NYSC by nonny158(m): 7:55pm On Oct 13, 2016 |
Hi friends... I'm a fresh graduate of Banking and Finance frm the University of Nigeria, Nsukka with an outstanding CGPA. I'm really in need of a productive engagement before my NYSC which is around March next year. I will be super grateful if someone could help... Thanks in anticipation... 2 Likes |
Politics / Re: US Donates Six Laptops To EFCC by nonny158(m): 9:27am On Jul 30, 2016 |
6 laptops from U.S? Thanks but no thanks. Those laptops shold be double checked to be sure they inserted no spy chip in it... U.S and their Greek Gifts |
Politics / Re: Lai Mohammed, Peterside At Amaechi's Birthday Dinner (Pics) by nonny158(m): 11:28am On Jul 02, 2016 |
Buhari gave Amarachi the best birthday present ever; retiring Mbu... Sober Mbu, Merry Amaechi. The APC govt psychologically conquered Nigerians with their near-perfect promises, what are we seeing now? A bias anti-corruption campaign that captures politicians without the Broom, an unmatched economic recession... EFCC: 'If we see d Broom, we shall pass over'... it's so pathetic |
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