Zenith Bank Staff Salary Controversy

@egoldman

When i made the statement, i used "WE", (Why are WE Nigerians so lazy) meaning i'm also involved. Stop taking things personal.

Although i knew the meaning by instincts, i wasn't very sure. If i was, there would be no need searching for the meaning of T24: Lifelong learning is the word.

But truly, we are a lazy bunch. When i say lazy, i'm not talking about not working hard, because i know Nigerians are hardworking. I mean that we find it hard to study. We cannot read even common newspaper. Some of us just read the headlines and sports page. What other effort is required to Google something. We already have internet access to post on Naira-land, simply open another window and Google T24 - its that simple.

The worst of the unethical things we see banks do in the name of getting clients to deposit with em or "Enhancing their *buttom* line" , is the way the ladies are put under soo much pressure that they get to compromise morals in  "marketing".

I told myself sometime back that I would not get into a serious relationship with any bank girl and most definitely not a marketer. Apologies to the poster but you may be different.

@ Frankbonus
Konye you are entitle to your opinion and decision, but do you take time to look at how many people are looking and searching for the position you find your self? how ever if you think you have done what Napoleon could not do why take the decision all by yourself and alone? do you not believe in the power of crud? why not meet with your other marketers and see if they are of the same opinion with you so that what ever action you guys take will be felt by the organisation. Because if you decide to do it alone ,who cares if you leave and probably live with your few customers. some stat ff of a particular bank eve though aged in the profession were ask to go on compulsory retirement, they did not argue it but what they did was to call all those given the retirement and ask them to get work elsewere, after getting most of them drag their customers away into their new organisation, when the previous bank felt it they have to call them back with a better package and remuneration that is even more than the one they were collecting . so you can see the reason why am saying what is your contribution to the organisation, can it be felt when you live or is it from fry pan to fire?


I think if u are gainfully employed u wnt talk like this. You are really an insensitive and selfish person. If someone gives u a whole lot of money (u av made plans for it) and later takes everytin frm u how wuld u feel? People sweat it out daily to meet up wit demands and after raising their hopes so high, it becomes dashed, is it fair? Even the increment that was given before, is it really commensurable with the efforts put into the work? You just open your leaking mouth and talk anyhow. I wish it happens to u.    Idiota!!!

Jim Ovia will definitly loose manpower with the rash, irrational and erratic decision he just made!!!

@double N
I'm sure you work with Unity bank,union or First bank.Dont be jealous

hehe 
_{zooms off}

Hey people!
Please lets take this easy! we 've seen this whole scenario before and this is definitely not going to be the last time. come to think of it, this kind of s**t happens even in advanced countries. Which would the average worker actually prefer? downsizing OR general pay cut? this means that the management of Zenith actually choose the "lesser evil". I actually think we should talk small small,  because NOBODY HOLY PASS!

and for Ziddy! may the Heavens forgive you for blasphemy! How dare you make such a blunder by generalising? I personally take exception to your kind of language and pray that you come to your senses one day! lets all watch and see how this goes,  I actually feel for my Zenith people o! 1 LOVE TO UNA!

@Debosky

Reading your post, it shows that you know nothing about banking systems. Most of these banks posting outrageous earnings and going offshores to burrow money at a time like this are the ones that people should watch. There is nothing wrong with banks burrowing money but they do it at a conducive and favorable time. Offshore capital credits are in a turbulence times, especially the western capital market that these banks burrow money from. In the USA, most big banks are really feeling the effect of the housing bust which has made giving credits a headache. Banks in the USA and Europe now give loans at exuberance rates. So, tell me if you burrow at high rate will you sell at low rates? The practises of most Nigerian banks are not realistic for the knid of economy Nigeria has, they are too cosmetic.

@konye

I have read your angry post at zenith and you complained bitterly about it and your allegding a breach of contract with the bank. Let me put some legal perspectives to you for you to know whether zenith commited a breach of contract with you.

1. There can only be a breach of contract if only you signed one. Technically speaking it is called an agreement and you must have probably signed an employment agreement with the bank. If you didnt sign one or the bank didnt offer you one, there is no breach because it doesnt exist.

2. If you indeed signed an employment agreement, it must contain the following clauses at least:

a. The term of the contract, stating how long you would work for the company and when it would end and if there is an option of renewal of the agreement

b. Your duties and obligation to the company

c. Compensation for the time you spend at work whether your being paid monthly, weekly, quarterly or whenever and stating how much you would earn ( in words and figures)

d. Fringe benefits, bonuses and other perks of working for the company

e. compensation for illegally terminating the agreement ( also known as severance package)

f. Termination of the employment agreement which could either be by breach of your duties, death, cause, without cause or special termination

g. whether you signed non-disclosure agreements, confidentiality and non-compete agreements

h. Equitable reliefs by the company to you in case they slash your salary or make any decision that is totally adverse to the terms and conditions of the contract

3. And a host of other employment clauses inserted into the employment agreement.

Now if the agreement does not provide for equitable reliefs and grants the bank the right to take certain decisions without your consent,  it is binding, as long as you signed the agreement, the bank is not liable because you consented to it, but if the bank acts erroneously and on its own without resorting to the employment agreement, then the issue of a breach of contract arises and you could be handsomely compensated.

So check your employment agreement again and let a labour law lawyer look into it to break it down for you. Contracts are very tricky things which must be adequately analysed by a specialist unless it could blow up in your face in future and i have this funny feeling, zenith lawyers inserted a clause that protects them if ever they decide to breach certain parts of the agreement because they know people don't read them and they are only interested in collecting their #190000 at first without thinking of the consequences.

So go through it again and get back to me if you think your in the dark and need more explanations.

P:s: If most of the things i highlighted above are not even in your employment agreement, then the whole employment issue was fraudulent from the start so you might have a very strong case. Labour law protects the employee more than the employer.

@ konye,

.

@ konye.
I think you are being too hasty.  Why not wait until the details are worked out before crying out.  I also believe that you shouldn't be washing your dirty linen in public. If you feel that badly take the honourable option and resign before causing a run on the bank.
What do you intend to archieve by this.  

I used to think Nairaland is a forum for civilized people to share ideas,experiences,information and most of all FACTS. Now I know better. Now I know people also come to Nairalnd to settle scores, mislead the public and you may not believe this- do a hatchet  job!

 Konye (the first poster) comes across as an employee who lacks in loyalty. Hear her :", THEY ARE A DISGRACE TO THE NIGERIAN BANKING SECTOR, " Simply because there seem to be talks of a review in pay? One wonders why she did not come out in like manner to declare way back in August/Sept after the bumper pay raise to proclaim :" THEY ARE A BLESSING TO THE NIGERIAN BANKING SECTOR"!

Konye also hits me as being discretionally bankrupt. Which security-conscious employee of a bank in today's Nigeria would come out in an online forum with a large a followership as Nairaland's to announce: ", payment for december is on friday, " May Allah protect all Zenith bank staff and staff buses as they go home this Friday.

Confidentiality of information is an integral part of the Employer-Employee r/ship. I find it lacking in :", if u are a staff your branch head should have addressed u and your colleagues about the recent developement during your tuesday meeting,u should know there was a summit in civic center which your branch head must have attended, " Whatever happened to the traditional Oath of Secrecy!

For those of us who plan to be entrepreneurs someday insha Allah, how many of us would warmly embrace employees who run their mouths as soon as they get wind of any form of restructuring? Someone close to the authorities in Zenith informed me last week that what Zenith plans to do is a re-structuring of compensation packages aimed at ensuring that people are rewarded based on their performance. It is an arrangement that would see diligent employees rising and getting promoted over their more indolent peers. According to my friend, under the new arrangement a Zenith employee who scores an "A" in the periodic appraisal would earn 115% of the Profit Sharing. A "B+" employee earns 100% while a "B" man earns 85% of the PS and so on.

For now, what we actually know is that the pay package of Zenith Bank staff is YET to be altered. So Konye's post and this entire thread is un-called for. It is akin to putting the cart before the horse. Let's wait for accurate information, for it is  then  and only then can  we reasonably[b][/b] begin to comment.

Finally, (1) I am human and I cannot resist the temptation of asking Konye what personal "beef" she has against Ovia. See: ", Jim ovia has decided to make the staff of zenith bank pay for his mistake with his T24 THAT FAILED thats the problem with these our so called one man nigerian firms, "  Are sole proprietorships Nigerian in origin?

 (2) I am percipient and when someone openly declares ", I HATE ZENITH BANK, " it worries me because I can smell a case of dementia somewhere.

(3) I love flawless grammar and it pisses me off when someone REPEATEDLY replaces B-R-E-A-C-H (of contract) with B-R-E-E-C-H.

Wev must all be watchful and careful about the activities of all these banks. I am concerned not just for Zenith but the banking system in Nigeria. We are yet to develop a robust system backed up by legal framework with adequate goverment or regulatory policies. That is why anybody can just wake up and say your salary has been slashed.
It is sad to hear that. In the UK, before a thing of that magnitude could be done there must have been a serious consultation and at least a year notice. 

Jim Ovia should thread carefully on the way he conducts himself. I will suggest to him to look inward and carefully though before taking any action that may have a lasting negative effect on what he has built so far.

All said, we Nigerian must watch the activities of these so called banks. I am currently disappointed about what GTB did.
GTB removed a 3rd party online transfer faciltiy without any prior notice.

I opened my account with GTB just because of this facility so that I can transfer money to brothers and sisters in the University and my aged parent. But now it was removed. You don't do things like that. GTB is not sensitive to its customers. I suspect there is more to this development. We must be watchful.

Can anyone explain why GTB removed 3rd party online transfer faciltiy?
I cannot even fund my stock account any more.

Can you imagine third party online transfer being stopped all in the name of security. No I don't think so. There must be something more than that. Here in the UK, you don't just remove a faciltity without informing your customers.
I was sad because I had planned to send money via this medium for Xmas festivity.
I think I have to close my account with GTB and go elsewhere. This is a breach of contract on the part of GTB. I opened the account just because of this online  3rd party transfer. A bank whose customers opinions do not matter.
Rubbish!.

This is ridiculous! its a big shortchange on the people that made Zenith Bank "African bank of the year". this is the reward for your hardwork.

Some people are just out there possing to be "highly" intelligent but sincerely speaking they are just previledge to have the things they are in-charge of. Now we can see OBJ boys taking after his step.

I think its high time our youth realised that, there is nothing like "Job security" its old school. The company that can cut your salary without prior notice can as well lay you off same manner.

The only job security we have is our ability to develop our own business system and make it work for us even post-humously.

Here is the logic: less salary paid to the staff, more profit to the investors (the bigger bois).  but failure to follow the right step in making those decision will spell doom for the company.

whatever 

@cecgorz

You must be one of those idiots in the bank. Now you have something to teach your fellow idiots in the bank. By the way both words are spelled correctly. except for a typo. I bet you had to study the dictionary to write this, didn't you? Now go and watch some cartoons Buttbreath!

@Finecat

please be man enough to accept a common mistake and appreciate correction. Stop making excuses.