THE Board and Management of Standard Alliance Insurance Plc, one of the nation’s frontline insurance companies, have initiated a process of restructuring and rightsizing as part of its corporate strategy for growth and efficiency.
The restructuring and rightsizing exercise “involved the reshuffling of some key staff to fill specific positions in line with the new focus while others who could not be accommodated were exited from the system with their terminal compensations extended to them for their dedicated and invaluable service to the company.”
This was contained in a press release signed and made available to us at the weekend by the company’s Corporate Communications Manager, Mr. Nelson Egboboh.
He disclosed further that dedicated and deserving staff have been earmarked for promotion, stating that the Board has given the Management its approval to immediately come up with a much more competitive salary structure for the company’s workforce as a way of motivating them to raise their output level.
Noting that the initiatives were a part of Management’s comprehensive strategic plan to align the company’s operations with prevailing insurance business realities, he said that four major marketing divisions headed by “senior marketing management staff of proven records have been created to aggressively cover all the segments of the insurance market nationwide.”
According to him, “the Board and Management expect that these actions will help to make SA Insurance Plc a more competitive company, better positioned to drive innovation in new products and enable it to better utilize its resources in this challenging economic climate under which businesses have been operating towards delivering super financial performance results to our shareholders as well as provide much higher level of service to our clients.”
Egboboh assured that “the Company will continue to build on the success of this restructuring in the months to come, providing more organizational focus and enhancing excellent services to our clients.”
