‘Nation’ third best firm to work for in Kenya

Nation Media Group (NMG) has been recognised as one of the best companies to work for in Kenya, according to a survey by consulting firm Deloitte East Africa.

The regional media group was ranked third behind East African Breweries Limited (EABL) and the Kenya Women Finance Trust.

Deloitte polled 5,000 workers on how their employers ranked on standards like pay, workplace culture, organisational ethics, human resource processes and employees’ confidence in their companies.

Eight of the 16 companies who participated in the Best Company to Work For 2012 survey scored a mean point of 3.7 out of a five-point score on these measures.

Besides the top three winners, the others were APA Insurance, British American Tobacco, Old Mutual, Pan Africa Life and Total Kenya.

“A high ranking in the survey confirms a company as an employer of choice in the labour market,” said Kimani Njoroge, the HR partner at Deloitte. “The survey can help identify gaps in employee engagement and motivation.”

Chief executives say good business ideas are being copied with speed, forcing employers to be constantly on the lookout for innovators.

This type of thinking is making human capital the most sought after resource in the production system and an arsenal for firms seeking to grow.

In top demand are people who are technologically literate, globally astute and capable of not only developing but also executing strategy.

This pressure to attract and retain talent in a competitive labour market, though lucrative for workers with special skills, is forcing employers to widen the scope of performance-related compensation leaving in their hands a heavy executive cost burden.

Besides pay, companies need to build a culture of trust, hope (of career growth) and feedback in their workforce.

“But compensation isn’t everything,’’ says Deloitte. “Empowering employees and giving them hope is one of the most effective ways to win their loyalty.”

This war for top performers has seen Kenyan firms respond with a mix of strategies to attract and retain key staff.

For instance, EABL and NMG which were ranked first and third best companies to work for respectively have been improving their workplace cultures by acting on employee feedbacks.

Local companies have also rolled out employee share ownership plans (ESOPs) and share grants in a bid to lock in their staff for the medium term.

The stock options are usually structured in a way that motivates employees to stay with the employer for three or more years.