Those who are beneficiaries of this exercise will receive up to 170% increase in their salaries and benefits, whilst a good number have been moved to higher grade levels.
A statement from the bank said that a planned restructuring which was embarked upon in the last quarter of 2019, had transformed the Bank’s grading system and processes to become one of the most competitive within the industry.
It said that the bank crashed its grade levels to 12 levels from entry level to the top of the pyramid where previously it had been 16 levels. “This means that staff will now find it much easier to attain top leadership management positions at UBA as their careers progress much faster.”
The statement said that over 4,000 new staff members who were recruited had since resumed in the last week of December 2019 in Nigeria alone, adding that the bank currently stands as the highest employer of labour among Nigerian banks with a staff strength of close to 20,000.
UBA’s Group Managing Director/Chief Executive Officer, Kennedy Uzoka, who announced the bank’s new staff improvement initiatives to the employees, noted that UBA is continually seeking new ways to improve the fortunes of its staff as they are the backbone of the organisation .
Uzoka, who spoke to the staff in a bank-wide live broadcast said: “As a leading financial institution, we do not take issues relating to our staff lightly. We take great pride in being a listening bank that has the ears of our employees as they turn the wheels which make the organisation successful for our customers and shareholders. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly.
“We have also taken steps to ensure that our bank remains at the top tier as it relates to talent pool. We want to train the best and we have crashed the grade structure to make it easier and faster for our employees to progress along 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.”
UBA operates in 20 African countries, with 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