Baring any last minute changes, Mrs OLUYEMISI OYINLOLA, one of the most experienced and best hands in the legal department of Nigeria Ports Authority, NPA, would assume duty as General Manager Corporate Communications and Strategy, to take over from Mallam Ibrahim Nasir, who has proceeded on his mandatory retirement vacation.But for this surprise posting, MRS OYINLOLA was being touted as most suitable for the post of General Manager , Legal Services/ Company Secretary. But if this appointment holds, the NPA would be losing on two fronts; losing a core professional to run the PR unit and trading off one of best brains in the NPA’S legal department.
Industry watchers are yet to come to terms with this development as there are competent and experienced hands within the system that would have stepped into the shoes of Ibrahim Nasir, without necessarily going through any tutelage. On the other hand, the Legal would have been dealt a big blow , ceding one of her best brains .
Most successful Chief Executives understand the importance of making the right hiring decisions and would trade such decisions on political considerations. In fact, in the United States alone, it is estimated that $72 billion a year is spent on recruiting and hiring. Yet even with all the time, money, and energy spent on finding the right hire, mistakes are still made, and these mistakes are costly.
Hiring the wrong person, it is believed,can result in astronomical costs for any organization, experts have warned. Investigations by Shipping World Magazine has revealed that the Harvard Business Review estimates that 80 percent of turnover is due to bad hiring decisions.
The cost of replacing an employee is estimated to be around one-fifth of their salary, so those costs mount quickly. But the consequences of a wrong hire go beyond turnover costs; there are also costs associated with a disrupted company culture, decreased work production, and potential loss of customers and revenue, investigations have further revealed.
Bottom-line: Making the right hiring decision is crucial in establishing and keeping a company successful. Although companies know the importance of making the right hiring decision, they still make easily avoidable mistakes, as demonstrated by Bello Koko in his recent staff disposition at the NPA which has gotten staffers incredibly difficult to discern.