How The Nigerian Banking System Is Killing Employee Loyalty. - Career (2)

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How The Nigerian Banking System Is Killing Employee Loyalty. - Career (2) - Nairaland

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Is Corporate Loyalty Dead?; 4 Reasons Why Employees Are Calling It Quits / Loyalty To A Company Vs Gaining Experience And Moving To Another Company / 5 Nigerian Banking Mobile Apps You Need To Own.. (2) (3) (4)

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Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Skillsnigeria: 12:42pm On Jun 22, 2023

Hmmm

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by emmycourage1: 12:44pm On Jun 22, 2023

[I love your story. I just finished my service year and I need to start from somewhere. Can I apply for your formal place of work or can you forward NGO sites where I can apply. 09150425084 is my number. Please flash me or WhatsApp me I Will so appreciate.quote author=DolbyDigital post=123925515]Most companies think it is OK to pay so little to people who are passionate about their work. Spending over 8 years in the last company I worked with is the biggest mistake of my life. I didn't really care much about the salary when I made my career debut. I was young, 21, and fresh out of school when I got the job and I was just excited about practising what I learnt in school. As I grow older with more ends to meet, the realities of life started setting in. For the first time in four years, I realised that I was underpaid and the excitement started to wear out.

Within that period of 4 years, the company witnessed massive growth, that we have to get bigger office spaces and recruit more hands. I keep negotiating for 80% salary increase which is already ridiculously low and the company keep stalling them. Although I didn't push for it aggressively because I do not like to appear entitled and I do not like to think my fate depends on something or someone other than me. It is easier for me to be that conservative because I have some side jobs I do that pay little, but it feels like a dagger in one's heart to know one is being cheated on and I know I am going to have to leave someday. It seems to me that the only people that matters in the eye of the management are the subcontractors, consultants, and the expatriates.

As a senior member and team leader, I always tell my colleagues to give their all regardless of the poor pay, but seems that giving your all while suffering is harder that the thought I put to it when I preach to my colleagues to do their best. Subconsciously, my productivity started dwindly. My life feel paused, and slow and somehow I feel empty. I feel like something is wrong with my life but I couldn't figure out what I am doing wrong. I started waking up late, talking back at my boss, engage in unprofessional interactions, and not caring about what is going on in the office anymore. That is unlike me, I am aware of that but somehow I couldn't get myself to change. I know it is a matter of time for me to leave that company and their is so little sand in my glas. Before the excitement died completely, I know I have to leave.

I started sending out my CV and surprisingly, I got another job faster than I thought. And what is actually more surprising is the fact that I got 200% increase in my salary for doing the same thing (a tiny little bit more) when I have been spending 4 years negotiating for 80% and the best they came up with is 30% (which is even the highest in my division that year).

I loved my new job but after spending two years, I thought there is nothing wrong in applying for more challenging jobs. I started sending out my CV again and I had just accepted an offer with the pay about 420% increase from my first salary.[/quote]

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by adexrocque(m): 12:45pm On Jun 22, 2023

Dougad:
Here to book space in anticipation of the "Don't work under any man, be your own boss" sufferhead crew.

Lol. Yet, they want to employ people who are supposed to be their own bosses too grin

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by emmycourage1: 12:46pm On Jun 22, 2023

[quote author=DolbyDigital post=123925515]Most companies think it is OK to pay so little to people who are passionate about their work. Spending over 8 years in the last company I worked with is the biggest mistake of my life. I didn't really care much about the salary when I made my career debut. I was young, 21, and fresh out of school when I got the job and I was just excited about practising what I learnt in school. As I grow older with more ends to meet, the realities of life started setting in. For the first time in four years, I realised that I was underpaid and the excitement started to wear out.

Within that period of 4 years, the company witnessed massive growth, that we have to get bigger office spaces and recruit more hands. I keep negotiating for 80% salary increase which is already ridiculously low and the company keep stalling them. Although I didn't push for it aggressively because I do not like to appear entitled and I do not like to think my fate depends on something or someone other than me. It is easier for me to be that conservative because I have some side jobs I do that pay little, but it feels like a dagger in one's heart to know one is being cheated on and I know I am going to have to leave someday. It seems to me that the only people that matters in the eye of the management are the subcontractors, consultants, and the expatriates.

As a senior member and team leader, I always tell my colleagues to give their all regardless of the poor pay, but seems that giving your all while suffering is harder that the thought I put to it when I preach to my colleagues to do their best. Subconsciously, my productivity started dwindly. My life feel paused, and slow and somehow I feel empty. I feel like something is wrong with my life but I couldn't figure out what I am doing wrong. I started waking up late, talking back at my boss, engage in unprofessional interactions, and not caring about what is going on in the office anymore. That is unlike me, I am aware of that but somehow I couldn't get myself to change. I know it is a matter of time for me to leave that company and their is so little sand in my glas. Before the excitement died completely, I know I have to leave.

Can I have your number still

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by 2pak(m): 1:04pm On Jun 22, 2023

Working in Nigeria is equivalent to slavery, be it government or private ,.. cost of living is f*ckin high

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by GreaterFuture(m): 1:10pm On Jun 22, 2023

DolbyDigital:

there is nothing wrong in applying for more challenging jobs. I started sending out my CV again and I had just accepted an offer with the pay about 420% increase from my first salary.

Which field Please?
Good afternoon

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Gbeng30(m): 1:14pm On Jun 22, 2023

It's happening in every sector in Nigeria ...not just banking sector... May God deliver this country

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Miyo190: 1:14pm On Jun 22, 2023

I believe Big 4 mentioned here by OP is The Big Four accounting/ professional services firms (e.g Deloitte, PWC,EY and KPMG) they are the firms that promote every year.

43Ronin:
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013, he ported to another big 4(Access) where he got promoted to ABO. he spent 6 years there and got to SBO. Now after spending 1 year as SBO and managing to get a B appraisal that financial year, He ported to Stanbic where he got AM. He was about porting to sterling as DM/M before we advised him as his family to come join us where we were since he's papers were finally out. The whole process from ET to AM took him 11 years. His friends who remained loyal to that Big 4 just recently(in fact last month May) got promoted to BO. Some of them as still ABO after 11 years in a big 4. My advice to every young banker is to port with brain. If you are employed in the big 4 make sure your first and second porting are within that corridor. Do not stay more than 4 years at most in a bank on the same level. cos if you do, the industry regards you as redundant. Believe me you don't wana port from GTB to wema as an ET-ABO its career suicide. Most of those big 4 banks have their M's & SM earning up to 30M per annum(when u calculate salary, entitlement and PS) some of those big 4 even give their A/D/GMs personal jeeps with security, abroad trips for their family 2ice a year, official housing etc. And them they fraustrate the younger ones from climbing the ladder. Make the most of your time as a banker. Get promotion or get yourself in a juicy department like GRM/Admin. Don't ever slave for free.
Regards

6 Likes 1 Share

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by LexNuel(m): 1:15pm On Jun 22, 2023

Hmmm...Banks promoting in 6 months abi 1 year...in Nigeria

Abi which country... if you see promotion chop in 4 years gan for some banks.... thank God..

Promotion na hustle especially in banks .. This is because the people at the top no dey retire.. e get the level u go reach sef... 10 years u will not see promotion..

What some banks now do is create really unnecessary positions and add small change to your salary to make u feel like ure being promoted...

Imagine entering as Graduate Assistant, maybe 3 years after if you be superstar like the op, you're promoted to Executive trainee..I know people who spent 6 years on this level alone. 6 years after graduation..chai... still a trainee..lol.. and yet I dey work for bank... and you say they should not jump from bank to bank..say they like u or your branch dey do well well... and they promote u again in 4 years or 3 years, you go enter Executive Assistant... lol.. especially Zenith... Access still try sef.. once you enter, do well small and they knack you with Assistant banking officer.. no be Zenith... you no spend at all 8 years.. before you enter ABO.

And bankers can't even move to another industry easily because your experience in banking (especially if you're in operations) is useless outside the banking industry... And if you're just starting out you will likely be in operations unless you use ogboju enter marketing or acquire some certifications to take you to back office positions like IT, Audit, L& grin

, compliance etc which will give u more opportunities when ure ready to japa..

3 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Lukuluku69(m): 1:16pm On Jun 22, 2023

43Ronin:
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013, he ported to another big 4(Access) where he got promoted to ABO. he spent 6 years there and got to SBO. Now after spending 1 year as SBO and managing to get a B appraisal that financial year, He ported to Stanbic where he got AM. He was about porting to sterling as DM/M before we advised him as his family to come join us where we were since he's papers were finally out. The whole process from ET to AM took him 11 years. His friends who remained loyal to that Big 4 just recently(in fact last month May) got promoted to BO. Some of them as still ABO after 11 years in a big 4. My advice to every young banker is to port with brain. If you are employed in the big 4 make sure your first and second porting are within that corridor. Do not stay more than 4 years at most in a bank on the same level. cos if you do, the industry regards you as redundant. Believe me you don't wana port from GTB to wema as an ET-ABO its career suicide. Most of those big 4 banks have their M's & SM earning up to 30M per annum(when u calculate salary, entitlement and PS) some of those big 4 even give their A/D/GMs personal jeeps with security, abroad trips for their family 2ice a year, official housing etc. And them they fraustrate the younger ones from climbing the ladder. Make the most of your time as a banker. Get promotion or get yourself in a juicy department like GRM/Admin. Don't ever slave for free.
Regards

Truer picture you painted up there.

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by TheAlchemist: 1:17pm On Jun 22, 2023

Loyalty in this day and age... dreamers every where.

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by mcstan18(m): 1:17pm On Jun 22, 2023

43Ronin:
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013...

If you lack knowledge of something,
you should ask before jumping into a reaction. I do not think the big 4 he talked about is the same as what you're referring to. In the professional space, the big 4 represents the 4 biggest consulting/audit firms (KPMG, PwC, EY & Deloitte), and YES, they promote yearly.

4 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Bontia(m): 1:18pm On Jun 22, 2023

Good write up. Very true not just in the banking industry in Nigeria but in almost all industries over the world.

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Aplaudez(m): 1:21pm On Jun 22, 2023

olamilarks:
The fastest way to get a salary increase and faster career growth in Nigeria is by job hopping. Loyalty doesn't pay

I disagree with you sir, My mum was given one star as a loyal woman Officer, promotion that she will spend another 4years before she could achieve it.

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by TheAlchemist: 1:22pm On Jun 22, 2023

Loyalty in this day and age..
when you wake up from dreamland let me know..

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by vexing(m): 1:27pm On Jun 22, 2023

43Ronin:
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013, he ported to another big 4(Access) where he got promoted to ABO. he spent 6 years there and got to SBO. Now after spending 1 year as SBO and managing to get a B appraisal that financial year, He ported to Stanbic where he got AM. He was about porting to sterling as DM/M before we advised him as his family to come join us where we were since he's papers were finally out. The whole process from ET to AM took him 11 years. His friends who remained loyal to that Big 4 just recently(in fact last month May) got promoted to BO. Some of them as still ABO after 11 years in a big 4. My advice to every young banker is to port with brain. If you are employed in the big 4 make sure your first and second porting are within that corridor. Do not stay more than 4 years at most in a bank on the same level. cos if you do, the industry regards you as redundant. Believe me you don't wana port from GTB to wema as an ET-ABO its career suicide. Most of those big 4 banks have their M's & SM earning up to 30M per annum(when u calculate salary, entitlement and PS) some of those big 4 even give their A/D/GMs personal jeeps with security, abroad trips for their family 2ice a year, official housing etc. And them they fraustrate the younger ones from climbing the ladder. Make the most of your time as a banker. Get promotion or get yourself in a juicy department like GRM/Admin. Don't ever slave for free.
Regards

The big 4 are not banks but auditing firms

4 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by GboyegaD(m): 1:27pm On Jun 22, 2023

Interestingly, no bank rewards a loyal staff. This I learnt immediately I joined banking and that is why the labor turnover is very high in Nigerian banks.

2 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Lisaint(m): 1:27pm On Jun 22, 2023

Im here to say

Do anyone has or know the recuritment link
For graduate at
Zenith!
Access!
Gtbank

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by AntiWailer: 1:43pm On Jun 22, 2023

If you are good enough LEAVE.

No dey whine urself with that 'loyalty' phrase.

Nobody is loyal.

you analyzed and felt it was better for you to stay.

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by slowice(m): 1:50pm On Jun 22, 2023

Well written.... Facts only

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Solsix(m): 1:53pm On Jun 22, 2023

olamilarks:
The fastest way to get a salary increase and faster career growth in Nigeria is by job hopping. Loyalty doesn't pay

My brother loyalty do not work in Nigeria

2 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by frankbonus(m): 1:53pm On Jun 22, 2023

Good write up, except that for some of us that had a different terrible experience regretted being loyal to one of the old generation Bank that it's name starts with U.
İ started my career in this bank as an outsourced staff two years later took exams and interview to become a full staff as Executive trainee. İ gave my all and being used wherever the need is required . İ was used as even relief branch operation manager saddled with managing a whole branch but my salary and post never change from ET for god 10 years i was in that position being a so call loyal staff hoping my position will one day change through out these period i have witness general salary increament only once , while inflation kept biting, no wander i never had savings apart from some external contributions that i engage in . new entrants that is staff that cross carpet keep coming and being promoted while i just look with loyalty as my reward. To cut the long story short when the bank felt they have used me enough they felt its time to dump me by exiting me and paying me peanut as my gratuity.
The only choice that came to me after that was to follow the japa syndrome. Now in Europe i found my self from one industry to the other trying to survive.

4 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by ELKHALIFAISIS(m): 1:57pm On Jun 22, 2023

Is that the reason you people are stealing customers money under your care

We are not the cause of all these ,stop stealing customers money

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by smasher1(m): 1:59pm On Jun 22, 2023

Manny21:
The banks' top managers are reaping where they did not sow. Imagine a bank director earning about fifty million naira as salary while the rank and file of the banking industry earn take-home that will not take them home. Loyalty for what?

The highest paid bank MD in Nigeria don't earn N50m a month as salary.

2 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Jesusmylord(m): 2:16pm On Jun 22, 2023

The Big4 the writer is referring to is the biggest auditing/accounting firm in the world; PWC, KPMG, DELIOTTE, and EY.

These firms are referred to as the Big4.

43Ronin:
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013, he ported to another big 4(Access) where he got promoted to ABO. he spent 6 years there and got to SBO. Now after spending 1 year as SBO and managing to get a B appraisal that financial year, He ported to Stanbic where he got AM. He was about porting to sterling as DM/M before we advised him as his family to come join us where we were since he's papers were finally out. The whole process from ET to AM took him 11 years. His friends who remained loyal to that Big 4 just recently(in fact last month May) got promoted to BO. Some of them as still ABO after 11 years in a big 4. My advice to every young banker is to port with brain. If you are employed in the big 4 make sure your first and second porting are within that corridor. Do not stay more than 4 years at most in a bank on the same level. cos if you do, the industry regards you as redundant. Believe me you don't wana port from GTB to wema as an ET-ABO its career suicide. Most of those big 4 banks have their M's & SM earning up to 30M per annum(when u calculate salary, entitlement and PS) some of those big 4 even give their A/D/GMs personal jeeps with security, abroad trips for their family 2ice a year, official housing etc. And them they fraustrate the younger ones from climbing the ladder. Make the most of your time as a banker. Get promotion or get yourself in a juicy department like GRM/Admin. Don't ever slave for free.
Regards

4 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by rukyboy(m): 2:24pm On Jun 22, 2023

43Ronin:
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013, he ported to another big 4(Access) where he got promoted to ABO. he spent 6 years there and got to SBO. Now after spending 1 year as SBO and managing to get a B appraisal that financial year, He ported to Stanbic where he got AM. He was about porting to sterling as DM/M before we advised him as his family to come join us where we were since he's papers were finally out. The whole process from ET to AM took him 11 years. His friends who remained loyal to that Big 4 just recently(in fact last month May) got promoted to BO. Some of them as still ABO after 11 years in a big 4. My advice to every young banker is to port with brain. If you are employed in the big 4 make sure your first and second porting are within that corridor. Do not stay more than 4 years at most in a bank on the same level. cos if you do, the industry regards you as redundant. Believe me you don't wana port from GTB to wema as an ET-ABO its career suicide. Most of those big 4 banks have their M's & SM earning up to 30M per annum(when u calculate salary, entitlement and PS) some of those big 4 even give their A/D/GMs personal jeeps with security, abroad trips for their family 2ice a year, official housing etc. And them they fraustrate the younger ones from climbing the ladder. Make the most of your time as a banker. Get promotion or get yourself in a juicy department like GRM/Admin. Don't ever slave for free.
Regards

When he mentioned "big 4"

I think he meant KPMG,EY,Delloite and the other one

4 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by 9jaRealist: 2:25pm On Jun 22, 2023

Rubyjade:
X

Nigerians and their “civil service” mentality…
Even on Wall Street, bankers move around for better pay or positions.

The only “loyalty” required of you is…
Whatever job you find yourself, perform it with your BEST effort.
>

3 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by 9jaRealist: 2:28pm On Jun 22, 2023

rukyboy:
When he mentioned "big 4"

I think he meant KPMG,EY,Delloite and the other one

PWC (PriceWaterhouseCoopers)…
>

2 Likes

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Rubyjade: 2:37pm On Jun 22, 2023

9jaRealist:

Nigerians and their “civil service” mentality…
Even on Wall Street, bankers move around for better pay or positions.

The only “loyalty” required of you is…
Whatever job you find yourself, perform it with your BEST effort.
>

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Rubyjade: 2:38pm On Jun 22, 2023

Union Bank

frankbonus:
Good write up, except that for some of us that had a different terrible experience regretted being loyal to one of the old generation Bank that it's name starts with U.
İ started my career in this bank as an outsourced staff two years later took exams and interview to become a full staff as Executive trainee. İ gave my all and being used wherever the need is required . İ was used as even relief branch operation manager saddled with managing a whole branch but my salary and post never change from ET for god 10 years i was in that position being a so call loyal staff hoping my position will one day change through out these period i have witness general salary increament only once , while inflation kept biting, no wander i never had savings apart from some external contributions that i engage in . new entrants that is staff that cross carpet keep coming and being promoted while i just look with loyalty as my reward. To cut the long story short when the bank felt they have used me enough they felt its time to dump me by exiting me and paying me peanut as my gratuity.
The only choice that came to me after that was to follow the japa syndrome. Now in Europe i found my self from one industry to the other trying to survive.

1 Like

Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Omoawoke: 2:56pm On Jun 22, 2023

ELKHALIFAISIS:
Is that the reason you people are stealing customers money under your care We are not the cause of all these ,stop stealing customers money

Bush man, sound like a pure illiterate. Is that how easy it works to steal customers money?

2 Likes

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