United Bank for Africa (UBA) recently announced that it embarked on a careful re-jigging of its workforce in the last quarter of 2019 which led to the promotion of more than a fourth of its workforce, easing of mobility through its corporate ranks, and upward review of salaries.
The bank also recruited additional staff and let go of some of its underperforming employees in a carefully planned restructuring aimed at making its workforce one of the most competitive within the industry, it said.
BusinessDay reported that UBA has the largest workforce among Nigerian banks but also generates the lowest profit per employee and gross earnings per employee among the big banks, underscoring low productivity at the expense of its shareholders.
However, its management is taking necessary measures that would benefit both the business and its workforce in entirety by crashing grade levels from 16 to 12 and promoting 3,292 employees across various cadres with up to 170 percent salary increment.
The bank also effected an upward review of salaries of 1,735 additional junior staff, employed over 2,800 operations staff and 1,336 additional non-operations staff.
On the other hand, few employees that had underperformed after appraisal, some of who were close to retirement, were asked to resign. UBA said some of the affected staff would collect up to eight months’ salary plus PenCom contributions.
“As a leading financial institution, we do not take issues relating to our staff lightly,” said Kennedy Uzoka, UBA’s group managing director/chief executive officer. “UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly,” he added.
Uzoka said UBA is ever attentive to its employees as they turn the wheels which make the organisation successful for its customers and shareholders.
He said the steps would ensure that UBA remains at the top tier as it relates to the talent pool and make it easier and faster for the bank’s employees to progress along with their careers.
“With this new grade structure, it will be possible for a new graduate employed at UBA to rapidly chart their own careers and become GMD by the age of 36,” he said.
UBA is one of Africa’s leading banks with operations in 20 African countries. The bank also has a presence in the global financial centres of London, New York and Paris.
UBA provides banking services to more than 17 million customers globally, through diverse channels.
MAURICE OGU @cojmaurice
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