MarketingEarlier this month, Moniepoint Co-founder, Tosin Eniolorunda, made a statement that stopped Nigeria’s tech and business community in its tracks. He revealed that after Moniepoint decided in 2024 to hire exclusively from Nigeria, the company found itself in 2025 unable to fill over 500 vacancies — not because of a lack of candidates, but because too few met the global standards required to compete in a world where Moniepoint’s biggest rivals are Chinese fintechs.
If you’re Nigerian, then you’re most likely familiar with the “Japa Wave”. It’s the colloquial term for the season where Nigerian talents leave the country for greener pastures.
The result? Brain drain. And for many firms, tons of vacancies and the herculean task of securing new, high-performing employees.
The Truth?
There is a plethora of employable talents in the Nigerian market. However, between the Japa wave, better monetary compensation from foreign employers, and the remote work edge that some firms have, hiring has now become a fierce fight for survival.
That brings us to a business truth that Nigerian employers can no longer afford to ignore: retention is now more important than replacement.
Beyond the stiff competition between Nigerian employers right now, retention typically costs more than replacement. According to Work Institute’s 2025 Retention Report, replacing an employee costs about 33% of the employee’s annual salary. So, if you had to replace 5 employees who earn N12 million annually, you’d incur about ₦3,960,000 × 5 = ₦19,800,000.
For years, many organisations relied on salary as the primary retention tool. While compensation still matters, it is no longer enough on its own. Employees don’t just want to be paid; they want to feel seen.
So, what does employee retention actually look like beyond the salary conversation? Recognition is where that starts, and corporate gifting is one of the most cost-effective employee recognition tools.
Read More: Premium Branded Gift Ideas for Modern Nigerian Brands
Corporate Gifting as an Employee Retention Strategy
One of the most overlooked strategies for employee retention is recognition. The most successful brands are the ones that prioritise employee recognition and see corporate gifting as a retention tool. Think Paystack or Buffer – two brands with a high retention rate and employees who have stayed for up to 10 years.
Here’s what corporate gifting for retention looks like in practice:
- A custom award presented to a top-performing employee at the year-end retreat.
- A milestone gift marking five or ten years of service, a sign that the company values employee loyalty.
- Trophies and team celebration souvenirs for a campaign win or product launch, appreciating the work that went into it.
- Branded, thoughtfully designed gifts that reflect company culture and communicate that the company is worth belonging to.
Read More: 13 Corporate Gift Ideas That Employees Will Actually Keep (Even after they resign)
If your company is losing good people or struggling to fill vacancies, the answer probably isn’t finding better talent. It’s becoming a place worth staying, and it begins with how you recognise the employees already in your corner. The brands that retain the best talent aren’t just paying the most; they’re making people feel like they belong.
We create corporate gifts and branded keepsakes for brands that are intentionally investing in corporate gifting—like the multifunctional desk cradle we created for Wema Bank’s 80th anniversary, and the custom desk lamp and MagSafe charger we created for Huawei Day Nigeria 2025. We’ve also manufactured unique custom awards for brands that take recognition seriously, like the unique trophies we created for Red Bull’s Half Court Tournament.
Looking to build a workplace culture where people genuinely want to stay? Let’s help you create custom corporate gifts, recognition awards, and branded keepsakes that make employees feel valued long after the moment has passed. Explore our catalogue or start a conversation with us today.
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