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Bank increases salaries to cushion effect of economic crisis on employees

By Guardian Nigeria
10 August 2023   |   2:14 am
As part of efforts to cushion the harsh economic effect on employees, Wema Bank has moved to address the financial needs of its workforce. The bank announced an increase in the salaries of its staff, thereby affirming its belief in the value of every individual's contribution...

As part of efforts to cushion the harsh economic effect on employees, Wema Bank has moved to address the financial needs of its workforce. The bank announced an increase in the salaries of its staff, thereby affirming its belief in the value of every individual’s contribution, regardless of their employment status.

According to the bank, this decision not only showcases the bank’s dedication to employee welfare and well-being, but also resonates deeply with its community as ripples of elation have been set off through the organisation.

The bank management said it understands that its employees are the bank’s most valuable asset, adding that by providing a competitive and fair remuneration package, the organisation aims to attract and retain top talents in the industry.

The bank management also said the impact of the salary increase bears more than mere numbers on a pay slip as employees are experiencing a renewed sense of motivation and dedication to their roles, knowing that their hard work is genuinely recognised and rewarded.

The management said the bank is creating a more harmonious and dynamic work environment where the creativity and innovation for which it is acclaimed, flourish the most.

“Wema Bank’s vision extends beyond its bottom line; with this salary increase for its staff, the bank expects the ripple effect of positive change to extend to the wider industry and world of work. Wema Bank’s unwavering support for its employees lies at the heart of this expected transformation.

“Beyond financial incentives, the bank provides ample opportunities to its workers for personal and professional growth by nurturing a culture of learning and development.

“By setting a precedent for employee-centric practices, Wema Bank aims to encourage other financial institutions to prioritise the well-being of their staff through the establishing of similarly empathetic and compassionate working environments.” the bank stated.

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