₦airaland Forum

Unity Bank Retires 500 Workers
24 Jul 2012
Views: 1,825

Unity Bank Plc Monday said about 500 members of its staff will proceed on retirement, in line with a programme aimed at reinvigorating its workforce.

The bank also said that about 389 members of staff in various departments were promoted while salary increments by way of notches were also given to another 1,855.

A statement from the bank explained that the move was aimed at raising productivity and competitive position in the industry. “With the implementation of the programme, the bank has announced staff promotions, retirements and will embark on new recruitments to fill vacancies,” it said.

The statement also revealed that while a Deputy General Manager was promoted General Manager, two others Deputy General Manager and five others to the position of Assistant General Manager.

It explained further: “Three members of staff were elevated to the position of Principal Manager, nine to Senior Manager Position, six to Manager status, while those promoted to the ranks of Deputy Manager and Assistant Manager altogether number 54. Other staff in the rank of Senior Banking Officer, Banking Officer, Assistant Banking Officer and Executives also benefitted from the promotion exercise.

“Of the number proceeding on retirement one each are in the rank of General Manager and Deputy General Manager and an Assistant General Manager while others are of various categories In carrying out the retirement, the bank worked in co-operation with all the stakeholders including the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) to ensure industrial harmony,” it added.

Unity Bank also stated that the affected workers would be paid their terminal benefits, gratuity, and other entitlements.


Source-This Day

@nitrogen
Thank you...more good heads are better than one

I work with one of the International banks in Nigeria that starts with 'S' but i have been on the same grade (Senior Officer) for the past 3 years and i am poorly paid in relative terms. In view of current appraisals and 'goal-posts', salary increase is not guaranteed for now and not happy about our system and processes. You can say that i am dissatisfied! Just heard that Mainstreet Bank (formerly AfriBank), one of the nationalized banks, is recruiting experienced staff and i am being persuaded to apply. What do you think, my senior colleagues? Should i go and negotiate for the next two levels in MainStreet? Is the risk worth taking? Please, i need your sincere and frank advice.
@Moderators, please move this topic to the front page so that i can get maximum response. Thank you.

Its not difficult now...ko le rara...let him display patriotism by relocating his family to those states first! *smh*

BIG scam! Are you telling me that applicants/job-seekers have become extinct in the UK that they would now be 'begging' Naija to apply? Run, run, run!

Great article...i hope you were walking/trekking while reading this piece...get moving! Lol

Sampling theory...*lips are sealed...just passing through*

Verily verily i say unto thee, internet warriors and paid agents (read 'aliens') have invaded Nairaland!

@poster
I guess you dont have bankers in your family cos if you do, that means you equally have 'fraudsters' in your family too...i dont know what your grouse is...why were you so contented to part with 10% in the first place if there is no 'monkey' business in the transaction?

If the police are better than bankers, why dont you keep your money with them or better still open an account with NPF Microfinance? *smh*

Listen to words of wisdom- remove the 'log of wood' in your eyes before attempting to remove the speck in other peoples' eyes...you are as guilty as that crooked banker...the giver and the taker of 'kere' must be blamed equally...#fact#

Let them evangelize from house to house like the Jehovah's witnesses. Afterall, Jesus did same- ''A slave is not greater than his master'' so says the Holy Bible. No hard feelings!

Business Day reported yesterday that Sterling Bank has sacked 400 of its workers although 97% of those affected were said to be former employees of ETB. Another list of 150 is being compiled.

May God save us in this country!

As the saying goes, You buy wristwatch for N20, you come talk say e no get alarm...lmao

Why not? A Yoruba adage says ''Ilesanmi dun 'joye lo''! What is point of a 'take-home' that cannot take you home? What is key is not the grade but what the salary can do for you to realise your dreams. I can bet it that the Int'l Bank you are referring to is Stanbic!

I would like to go for my Masters/PHD in either of the above countries because i learned there are tuition-free universities in both. How is it like studying in both countries? Cost of living? Work? Please respond if you reside in either or you have relevant information. Thank you.

I would like to go for my Masters/PHD in either of the above countries because i learned there are tuition-free universities in both. How is it like studying in both countries? Cost of living? Work? Please respond if you reside in either or you have relevant information. Thank you.

As part of its restructuring to reposition the bank for greater heights, Diamond Bank Plc has laid off some of its staff classified as non-performers, while it increased its staff compensation scheme.



In an internal memo titled: "Review of Compensation Package and Consequence Management" addressed to all staff by its Human Capital Unit, the bank stated that in line with its organisational vision statement and the need to only retain the best people in the system, it has relieved some staff of their duties with immediate effect.

"In line with our organisation’s vision statement and our need to only retain our best people, please find below a list of staff members who have been disengaged from the organisation with immediate effect in view of their unacceptable levels of performance," it said.

SOURCE- THISDAY NEWSPAPER
According to a reliable source, the rationalisation affected some top management staff including Mr. Humphery Akachukwu who was until his sack a general manager in charge of compliance and security.



The list also affected about 97 other staff from the level of manager and below.

The source further stated that the bank informed its staff that in line with management’s promise, its compensation package had been approved by the board and that it would take retroactive effect, adding that a separate performance management system utilising the balance score card method will be introduced in the banks soon in order to compensate staff members who will be identified as high level achievers via bonus payment.



"It was a mixed reaction in the bank as some were happy that their salaries have been increased, while others were groaning over their sack," she said.

All efforts made to reach the bank’s head corporate communications on the sack were abortive as her official line was switched off.



Meanwhile, the sack coincided with the bank’s 21st annual general meeting, which was held in Lagos where its Group Managing Director/Chief Executive Officer, Dr. Alex Otti, said that the move by the National Assembly to tinker with the autonomy of the CBN was ill-advised.

Got the info that First Rand Group (a.k.a FNB) , the second largest bank in SA and a contemporary of Standard Bank is already in Nigeria via a representative office and is considering either starting an Investment Banking outfit from the scratch or buying one of the nationalised banks.

Does anyone have any useful info? Thank you.

NB: Moderators, pls help move this post to the front page so that it can get adequate responses/attention. Thank you.

Does anyone have information on the subject? Please help!

Nairalanders have offered you practical advice, so its up to you to-

1. Consider the offers prayerfully

2. Do a honest self-examination of what you REALLY want i.e.whether your emphasis is on remuneration or security (afterall, you will be the one to take up the offer)

@Sholatech

What do you think would be the fate of the nationalized banks? Which is the most vibrant among the three? Do you think it would be a good idea to accept an offer from Enterprise Bank at this time? Are they likely to be acquired by First Rand (FNB)?

Thank you and may God bless you as you reply!

Go to ANY Stanbic IBTC Bank branch, you will be delighted!

@jbrodaly, tell us, how did Seal meet Heidi?

Does anyone know anything about the working conditions in Enterprise Bank (former Spring Bank)? Please share

@Blank

Do you mean that Wema Bank is in the process of being acquired by Skye Bank? As far as we know, Wema Bank is still a stand-alone Regional Bank

@Al, Thank you very much for your insightful advice and comments.

@Tanimola22- The salary difference is about N200,000
@Yamakuza- I am looking at 3-5 years, at most.

Thank you

I currently work with a second-generation bank and i just received an offer of employment from Enterprise Bank. The renumeration is far higher that what i currently receive from my current employer. Even if my current employer decides to promote me, the resultant pay would not still match that of the subject bank but i am still undecided on whether to take the offer or not. The reasons are obvious; the stigma of being a nationalized bank and the current uncertain business climate.

Experienced bankers and insiders in Enterprise Bank, please advise me. I only want to use a few more years in banking to get some capital to start my own business but i just want to make an informed decision. Thank you.

I currently work with a second-generation bank and i just received an offer of employment from Enterprise Bank. The renumeration is far higher that what i currently receive from my current employer. Even if my current employer decides to promote me, the resultant pay would not still match that of the subject bank but i am still undecided on whether to take the offer or not. The reasons are obvious; the stigma of being a nationalized bank and the current uncertain business climate.

Experienced bankers and insiders in Enterprise Bank, please advise me. I only want to use a few more years in banking to get some capital to start my own business but i just want to make an informed decision. Thank you.