Information reaching Kossyderrickent has it that Reports that Zenith Bank did mad salary increase to staff after salaries are increased by 100% is UNCONFIRMED.
A Twitter user wrote: ”There was wild jubilation at all Zenith Bank branches all over the country as the staff of the bank woke up to the news that their salaries had been increased by 100%.
This was the bank’s attempt to lessen the impact of the removal of fuel subsidies.
“A driver at Zenith Bank now earns 120,000.
And a cleaner goes home with 80k.
The good thing is that the Increment was for both contract and permanent staff of the bank.
Workers were seen in groups praying for the owner of the bank, Jim Ovia, the oracle of Agbor that God would bless his large heart, while others changed their WhatsApp DPs to his pictures.
It is good and touching to see Nigerian big business doing the most for their staff in these perilous hard times.”
This is as aggregate personnel expenses, which include other benefits to the employees such as pension contributory scheme, and defined benefit obligations amongst others, increased by 15.3% from N276.9 billion recorded in H1 2021 to N319.29 billion in the review period.
According to the breakdown of data compiled by Nairalytics, the research arm of Nairametrics, Access Bank recorded the highest staff expenses between January and June 2022, followed by First Bank, and UBA.
Staff compensation, which is an integral part of human resource management has been linked to organizational performance in recent times as it helps in motivating the employees to give their best and in effect improve the firm’s effectiveness.
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