VITAFOAM Nigeria Plc has identified capacity building as a critical factor to the profitability of companies.
According to the company, a key factor of its success over the years is systemic capacity building via the reward of exemplary performance.
The company said in a statement on Wednesday that in recognition of the importance of capacity building, it had developed a means of identifying its top-performing staff and rewarding them under a programme called the Chairman’s Merit Award.
It explained that the reward system had helped to keep the company’s employees motivated over the years, aiding the company to achieve its core objectives.
The ninth edition of the award, the statement said, was won by three employees across the junior staff, supervisory and management cadre.
This, it explained, was after a competitive screening process, which considered employee contribution to the business, attitude, productivity, level of competence and ability to save funds for the company through efficiency and effectiveness.
According to the statement, the winners of this year’s edition of the award are Mr. Ojo Olatunbosun, junior management category; Mr. Olusola Abitul in the supervisory category and Mr. Adeyemi Mofikoya in the management category.
The group managing director, Vitafoam Nigeria, Mr. Taiwo Adeniyi was quoted as explaining that the objective of the award was to promote healthy competition, while encouraging every employee, irrespective of his or her status, to strive to contribute meaningfully to the overall objective of the group.
Adeniyi, who said the award had become the most popular programme on the company’s calendar, explained that it was initially restricted to Vitafoam Nigeria, but that it had been expanded to the subsidiaries of the group.
The chairman, Vitafoam Nigeria, Dr. Dele Makanjuola expressed delight at the growth achieved by the group over the years.
He explained that one of the major differences between a collapsing company and a growing one was the quality of leadership.
According to him, despite the inclement operating environment in Nigeria, some companies are making profits and expanding while many are battling for survival.
He argued that most of the companies that were battling for survival lacked focused and innovative leadership.
He explained that one of the strengths of Vitafoam was its ability to identify great talents and nurture them.
Makanjuola congratulated all the past winners of the award and the current ones, saying there was a level playing ground for all the staff to prove themselves.

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