LETTER TO ZENITH BANK GMD,GODWIN EMEFIELE-POOR STAFF WELFARE
Dear Sir,
I sincerely want to appreciate the work you have been doing in the corporate governance of the bank toward making Zenith Bank a global bank, your efforts have yielded astronomical results as Zenith Bank ranks among the best in Africa, this is in line with the dream of the founder, Mr Jim Ovie.

The banks success is also not unconnected to the calibre of staff and dedicated workforce that the bank has, i must say that Zenith has about the best staffing in terms of diligence and dedication to work, these staff have given so much ,including personal resources in other to make the ‘Zenith ‘ people all see today. As much as you have the best staff in the industry, you also have the most disgruntled and unhappy staff in the industry, at least,among your competitors. Kindly permit me sir, to analyze, X-ray and buttress this point even further.

In 2012, the team of the bank was ‘efficiency for superior performance’, this brought the drive to make more money even at very low cost. All staff keyed into this, at times even using personal fund to buy stationeries and likes in other to cut cost, and the result was mindboggling, an unprecedented Profit after Tax of over 100 Billion Naira. One would have naturally expected that it will result to better package for staff, but that did not happen. The Profit sharing for the year 2013 was at best the same with that of 2012 or even lower in some cases. This did not go down well with the staff, but they all kept quiet due the dictatorial nature of banking management.

Sir, I am sure you are aware of the last time there was salary increase in Zenith bank, because the last time I checked, it was in the last quarter of 2010, about three years have gone by and your staff, the engine of your growth has not experienced salary increase, even in the face of challenges like fuel price increase and other market realities, all they have to show from their salary are good looking suits covering a sad looking face and body occasioned by poor staff welfare. Unfortunately, there is not much they can do because of the realities of the labour market
Sir, it baffles me how some would climb up with a ladder and afterward break the ladder so that others won’t climb. I am aware that prior to this time, promotions come easily to all staff that have worked hard for it, how things have fallen apart, I look around me and I see some who have spent 4-6 years in a particular cadre. Even more worrisome is the Executive Trainee (ET) cadre, a cadre that was to groom new intakes before promotion into the Executive Assistant (EA) Level. It is too bad sir, that it took a law suit instituted by a onetime ET , for the ETs at that time to gain promotion when Zenith Bank could not promote them many months after the 1 year stipulated in their contract papers. Thereafter, like the proverbial tortoise in its wisdom , HR removed that clause and so are free to keep staff on this cadre with meagre salary for close to 3 yrs now as is evident. Kindly prove me wrong Sir, there are ETs in this Bank who have are approaching 3 years in the ET cadre. This is inhuman.

Here come the bombshell, the contract staffing, the conditions are so inhuman that even your management staff who participated in conducting the interviews clearly told the candidate that this is a stopgap, that if they get another job, they should leave. Sir , who ever introduced this does not mean well for the bank. You may say, other banks are doing it, but let me remind you sir, that other banks use OND /HND holders for such, and that while making such analysis and studies, it would be better to concentrate on the the banks in your own league, and am sure you understand what it means. In clear terms by way of analogy, Chelsea FC would only think of what Man UTD has done and not necessarily what QPR has done in the transfer market.
This also reminds me of the fact that there are some OND holders who are used for bulk cash counting, some of these ones have been around for many years and now have their degree and some are even Chartered, and so I ask, what prevented Management from looking their way for those who have their degrees? I only keep wondering.

Regrettably, this negative trend has already started yielding results, as the rate of staff resignation has reached a new peak. This is even more worrisome when you consider the number of staff that left the bank in the just concluded First Bank Recruitment exercise even in head office ,under your own nose. It is also in the public domain that your formal GM. HR, and two ED’s that resigned this last year and this year respectively have all got better offers from your competitors and you may want to wonder how many other staff and customers they went with. Sir, you are powering your competitors by losing your best hands from top to bottom and am sure you are aware of the negative publicity this would give your bank. This is not good for the bank because no organisation, no matter how strong can withstand the effect of constant brain drain, and need I mention the cost of recruitment and training of contract staff who resign every now and then, not to talk of their lack of commitment due to the work condition which has no prospect for them. I know that management is wise, but what I don’t know is to what extent this wisdom would lead the bank.

Sir, let me conclude by adding that there are many more negatives when it comes to Zenith bank and its poor staff welfare and I wish that you would consider, investigate, and act on all these issues raised so as to motivate your staff before this negative trend turns into a sour story for the bank. And while doing so Sir, I suggest u concentrate on the banks in Zenith's league because these are the same banks Zenith competes with for customers and the market.

Like the bank’s slogan goes, acting on this ‘is in your best interest’.
...................................Staff, who feels for oneself and others.

Cc: JIM OVIE-Founder and formal CEO, Zenith Bank.

I can relate with your plight bro. Its so unfortunate! These banks have no good welfare package for staff and they will push u to meet target or get poor performance cuts from salaries. Since I resigned from the banking industry , I have never looked back nor regretted my decision. My advice to those still in the banking industry, get an alternative source of income while working and for those who can leave, all the best to you all.

Mods, pls take this to frontpage for the benefit of all the oppressed staff.

From First bank to Last bank, the banking industry is so-not-it