UBA To Boost Productivity, Increase Value Delivery With Rightsizing Exercise
For United Bank for Africa (UBA) Nigeria’s biggest employer of labour in the banking industry, its recent rightsizing exercise is to optimise value delivery to its customers, shareholders and other stakeholders, as well as having a motivated and productive workforce which are essentials in the very competitive banking industry.
UBA recently embarked on a careful re-jigging of its workforce in the last quarter of 2019 which led to the promotion of more than a fourth of its workforce, easing of mobility through its corporate ranks, and upward review of salaries.
The bank also recruited additional staff and let go of some of its underperforming employees in a carefully planned restructuring aimed at making its workforce one of the most competitive within the industry.
UBA has the largest workforce among Nigerian banks as it currently boasts of workforce strength near 12,909.
In 2018, the bank generated a gross earning per head of N38.27m. The earnings per head was significantly lower than the performance of its big peers and a FUGAZ (First Bank, UBA, GTB, Access and Zenith) average of N77.98m, according to data compiled by BusinessDay.
The bank also had a profit per employee of N6m which was lower than that generated by employees of its peers. FUGAZ average was N18.96m in the period.
The bank also effected an upward review of salaries of 1,735 additional junior staff, employed over 2,800 operations staff and 1,336 additional non-operations staff.
“As a leading financial institution, we do not take issues relating to our staff lightly. UBA recruits highly talented staff who perform at the best standards and deserve to be remunerated accordingly,” said Kennedy Uzoka, UBA’s group managing director/chief executive officer.
Uzoka said UBA is ever attentive to its employees as they turn the wheels which make the organisation successful for its customers and shareholders.
He said the steps would ensure that UBA remains at the top tier as it relates to the talent pool and make it easier and faster for the bank’s employees to progress along with 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,” he said.
UBA is one of Africa’s leading banks with operations in 20 African countries.
The bank also has a 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.
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Despite the situation of the economy, knowing how difficult it is for someone to be able to afford 3 square meal.
United Bank of Africa PLC, (UBA) carried out massive sack affecting thousands of their staff after the close of Business on Friday 3rd of January 2020.
The selection of those sacked was randomly based. Information received from reliable and higher officers shows that there was no clear criteria for the sack.
The affected staff members were kept in the office up till 10pm on Friday night, 3rd January, 2020, before they were horribly disengaged.
The bank had in a publication, made some propaganda about the number of new staff(their family members and stewards) they recruited lately (of which they made these honourable ex-staff members to train the new hires before relieving them of their jobs)they employed. However, they failed to mention how they sacked the ones they used like rags.
The noise about the list of those promoted was not true, instead, they made re-allignments of some grades.
Employers of labour should be fair in their dealings most times.
This is so touching at the beginning of the year making most parents jobless