Union Bank of Nigeria has been named the ‘Best Company in Workplace Practice’ at the Sustainability, Enterprise and Responsibility Awards held in Lagos.

A statement by the bank said that the award followed a comprehensive assessment by SERAS multinational independent judges who evaluated applicants’ Corporate Social Responsibility (CSR) and sustainability initiatives.

The statement hinted that the bank received nominations across four categories – SERAS Education Intervention of the Year, Best Company in Workplace Practice, Best in Gender Equity and Women Empowerment, and Best Company in Reporting and Transparency.

The bank also received first runner-up positions in both the ‘Gender Equity and Women Empowerment’, and ‘Educational Intervention’ categories.
It said these awards strengthened its commitment to these critical areas, while the award-winning workplace practices reflected its holistic people-first philosophy that transcended conventional human resources functions.

The bank said that it has created an inclusive, rewarding and high-performing work environment that establishes new benchmarks for Nigeria’s financial sector.

It mentioned the introduction of five months of fully paid maternity leave exceeding statutory requirements and the establishment of an on-site crèche at its head office to support work-life balance and improve female retention as some of the key initiatives that distinguished it from others.

The statement added: “The bank also recorded its highest promotion rate in 10 years with 24 per cent of employees advancing across departments, demonstrating a robust meritocratic culture.

“A significant 40 per cent salary increase further enhanced employee financial wellbeing, reduced economic pressures and boosted productivity.”

Commenting on the award, the Chief Brand and Marketing Officer at Union Bank, Olufunmilola Aluko, said its workplace initiatives were firmly anchored in the bank’s triple pillar model of citizenship, sustainability and innovation.