Zenith Bank Staff Salary Controversy

Emekanaija, you are a very bad advertisement to the organisation you sought to promote. The very first line of your post threw my gaze off your post. How  the hell did you secure that job with your kind of attitude.

Shaunscot,
Can you hear yourself? If the project is successful, there won't be the need for a rollback. Your management should accept responsibilities for the failure and admit same. Infact the project manager should be sacked.

House,
I understand a review memo was sent to the staff late on Friday night according to a post earlier. Can you imagine how insensitive the management of zenith bank is to the staff. These are people that laboured day and night to ensure that everything run smoothly and yet they are not considering all that. Instead, the best they could do was to 'punish' them. Posterity I believe, will judge them and it's the beginning of the end for the organization.

@Cabali

Whatever, i'm not going to argue with a fool ! It shows how frustrated you are. sorry.

Of course. We don't want them paying themselves now. With our money.

It's quite dissapointing to note that a number of us do not understand basic business principles - well if you are on the employee section of the table .

On any day, the most beautiful way maintaing peak productivity is by REWARDING employees based on their output. This specifically benefits the highly productive ones. The premise is: If I pay you N1,000 per hour to stack crates for me, why would you stack 100 instead of 20? As you can see, the most effective way to produce desired results is to make an employees take home pay a function of his/her performance.

Some Japanese companies for example base about 40% of employee salary on individual performance and company profits. Interestingly, it's only dedicated employees that will welcome developments like this.

However, it is also true that this can be open to abuse if appropriate perfomance 'guages' are not established (all companies are not into box stacking - no be so?).

Finally, it is really emabarrassing to see so many bright and intelligent people get so effussively excited over a N2 million+ naira annual salary that they lose perspective. Yes, it might be something for some greenie just out of school, but compared to the dormant abilities of most people I've observed, it's just disturbing.


_{P.S: Do not misconstrue my last paragraph as flashing a VIP badge. It's just that it worries me to see what most of us easily settle for despite our overwhelming latent abilities.}

@ Shaka Zulu: Thank you for the wake up call.
                       Its not a VIP badge, but a shock treatment.
                       Thanx bro

hahaha, did he really call him Olivia?   you guys should not kill me with laughter

@Olusola

oh well, Ovia, Olivia, Ovum Oluvum whatever his name is needs to do better. In my own opinion, i think Zenith bank is in some kind of trouble. O.K if you reduce the employee salary, why not pay them the balance owe before xmas and pay the performance Bull crap at the end of the year. I would be surprise if they don't start laying off employees soon.

it's monday da 24th en zenith has still not paid its workers. i agree with konye all da way, they claim to be payin our productivity bonus before we work, but the last time i checked, it was called "end of the month's pay",now they've sent memos calculatin shit, !!!!!someone up there aint doin his/her  work tite, i mean, after what we went through durin the processof T24 change over, i.e comin to work on weekends, stayin till very late, sometimes even gettin robbed en shot at, the programme still failed, !!!!! u talk of a whacked out management, this is it at the highest order, i wish we had a labor union o'somethin for we bankers nationwide, this is insane, bunch of bashi-bazouks they are, !!!!!!

Been reading the mails with passive interest. Truth be told, this finecat (name sounds like a fag by the way, ) is quite unrefined. I'm sorry that I am stooping to your level to address you but you've got to see a shrink or something because you've got serious issues man!!.

You are one self absorbed bull-headed, fish-brained individual. Must you be rude to drive your point home? Personally, I do not care if Zenith should fold up tommorow but this is a forum where people with even the least IQ make logical comments based on valid premises and not blow hot air and throw insults at strangers. I guess I am being a pot calling a kettle black but then,

I am serious about you ( finecat), or is it finepussy getting to see a shrink. I don't mind paying the bills. Wish you well,

By the way, since it is so obvious that you would not keep your sanity if you don't send a reply, expecting your rejoinder. PLEASE DO NOT DISSAPOINT OTHER NAIRALANDERS. Jim Olivia indeed.

hi guys,
things like these are bound to happen concerning T24.
T24 is the latest banking application in the world and very few banks had implemented it before now.
Implementation of banking application is one of the riskiest stunts u can pull. banks die with a lot of monies moved into suspence account that they might not reconcile.
It is just that Jim has a phobia for implementing a new banking application because zenith still uses the first generation of Phonenix bankin application.

Bottomline is, it is better to see failure stearing at u in the face and restrategise than to plunge into it head long.
I am sure things will still work out, Zenith i a very strong bank.

Salary not being paid by 24th is horrible to say the least because how do the management expect people to meet their obligations for the yelutide period?

But then, the only grouse is that there was no notice otherwise, attaching part of ur salary to performance is a practice most banks in nigeria do.

Compliments!!

so sorry about that. Accept my sympathy. i know how horrible that feels

    

finally the confirmation has just come in by gantic's post hence  konye was not an alarmist after all. i have carefully read through virtually all codmments and had to restrain from contributing because no one was sure until friday which turned out to be a monday payday and of course with the salary cut confirmed. however i would like to state here that it was share insesitivity on the part of management to allow such policy reversal (especially salary) to have taken place. obviously they did not finish their homework on the effect/implication of a pay rise in the first place not to talk of a reversal or restructure or whatever you want to call it. it is a sad situation because i know for sure if they are to follow the rating thing in order to qualify for the ps then i dia say not too many people will be smiling home at the end of the year given the kind of country we leave in and the abuses this will be subject to.again, watch out for the effect of this reversal on the turnover of their staff.

@Celibritee

I guess the paycut is really affecting you. You sound really frustrated and angry. Hopefully you won't beat your wife, today.

na wa oooo. one mans food another mans poison,

i heard he has even bought Bordeaux ( another CDMA company in south east and south south)  and is even joggling to buy Rainbownet if not for EFCC freezing some of the Asssets of the former Enugu state gov Chimaroke who has a stake in the company(Rainbownet),  as for me let him find a way of making both his zenith workers and VISAFONE worker smile instead of robbing peter to pay Paul. but men i heard doz VISAFONE guys are really being paid like hired assassins

@Cabali

^{Why i'm i even arguing with a F@#cking bank clerk Idiot ?}