The United Bank for Africa (UBA) Plc has promoted over 5,000 of its staff and upgraded their salaries with effect from January.
The bank which announced this at the weekend said those promoted would receive up to 170 per cent increase in their salaries and benefits.
Besides, it said many employees were moved to higher grade levels.
“In a carefully planned restructuring embarked upon by the bank in the last quarter of 2019, UBA has transformed its grading system and processes to become one of the most competitive within the industry.
“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,” said the bank.
The statement further disclosed that over 4, 000 new staff resumed in the last week of December 2019 in Nigeria alone.
With the development, the bank said it currently stands as the highest employer of labour among Nigerian banks with a staff strength of close to 20,000.
Commenting on the development, UBA’s Group managing director/chief executive officer, Mr. Kennedy Uzoka, said the bank was continually seeking new ways to improve the fortunes of its staff as they are the backbone of the organisation.
“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 group managing director by the age of 36,” Uzoka said.
