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 being made ready for their dedicated and invaluable service to the company.”
Nelson Egboboh, the company’s corporate communications manager, said dedicated and deserving staff had been earmarked for promotion, stating that the board had 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 prevailling insurance business realities, he said 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 organisational focus and enhancing excellent services to our clients.”