July 30, 2021

By Nneka Onyeali-Ikpe, MD/CEO Fidelity Bank Plc

Transformation in the workforce is indispensable for improving skills, tools and abilities- critical enablers for increasing productivity in every organisation. Workforce transformation, in particular, is a driver of innovation, agility, and flexibility for organisations, especially in the post-COVID world. It accrues benefits such as empowering employees to work more effectively, thus increasing productivity and morale amongst staff.

Tapping into the several benefits of workforce transformation is leading Nigerian bank Fidelity Bank Plc. On assuming office on January 1, 2021, the Bank’s first female Managing Director and Chief Executive Officer, Mrs Nneka Onyeali-Ikpe outlined seven pillars of her dispensation with workforce transformation ranking second. The objective of this pillar, she disclosed, is to create a future readily supported by a high performing and empowered workforce. This will be achieved by deepening the skills and competencies of staff across the bank, entrenching a culture of high performance, and embedding new ways of working in the bank.

Under the supervision of its visionary leader, the bank has implemented several laudable workforce transformation initiatives to ensure that Fidelity Bank staff are not just motivated but equipped to function maximally in their varying capacities. Some of these initiatives include:

• The Policy Familiarization Program- a capacity-building project geared towards building a knowledgeable and versatile staff network/ raising subject matter experts in all business areas that kicked off in March 2021.

• The One Culture Project – initiated to reinforce enabling behaviours and value systems towards fulfilling the Bank’s goals.

• Project Alpha- aimed at helping the Bank develop a robust and holistic learning and development framework for all staff.

Taking her commitment to workforce development a step further, Mrs Onyeali-Ikpe secured immediate approval to implement car loans for ET-ABE grade levels. She also allowed staff on SM and below-grade levels to take out a second HMO of their choice while simultaneously increasing loan top-up opportunities from once to thrice.

The staff at Fidelity Bank Plc are not the only beneficiaries of these need-of-the-hour workforce transformation initiatives. Mrs Onyeali-Ikpe’s administration has so far hosted and participated in webinars and conferences, contributing to the talent growth of the nation as well. In January 2021, the bank hosted an SME National Capacity Building Webinar under the theme, ‘Funding and Financial Management for SMEs’. This webinar witnessed over 600 participants in attendance and seamlessly with the banks resolve to be SME-friendly and equipping SMEs across the nation with the much-needed capacity for long-term business growth and entrepreneurial success through a suite of tailored offerings. These offerings have resulted in tremendous success for participating SMEs.

In March, the Bank held its first-ever diaspora webinar. Themed’ The New FX Policy, Implications and Positive Impact on Diaspora Investments’, the webinar had 5,319 attendees (including the Governor of the Central Bank of Nigeria and other dignitaries), 7,700 views on YouTube and aired on Arise TV and Ben TV to a global audience.

The evidential impact of workforce transformation in financial organisations is undeniable, yielding tremendous benefits for both employers and employees. Fidelity Bank’s strategic investment in its workforce is exemplary and worthy of emulation by other financial institutions.