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Nairaland Forum / Nairaland / General / Career / How The Nigerian Banking System Is Killing Employee Loyalty. (19911 Views)
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How The Nigerian Banking System Is Killing Employee Loyalty. by Rubyjade: 8:02pm On Jun 19, 2023 |
HOW THE NIGERIAN BANKING SYSTEM IS KILLING EMPLOYEE LOYALTY. 50 Likes 8 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by TemplarLandry: 8:11pm On Jun 19, 2023 |
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Re: How The Nigerian Banking System Is Killing Employee Loyalty. by rottable(m): 8:59pm On Jun 19, 2023 |
Welcome to Nigeria...... We ride with the tide 14 Likes 1 Share |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by emoboy4u: 9:12pm On Jun 19, 2023 |
Not just Banks. It happens in every sector 55 Likes 5 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Emmanuelcann: 11:49pm On Jun 19, 2023 |
Good write up, OP. This is true and the situation needs to be addressed! 27 Likes 2 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by olamilarks(m): 6:16am On Jun 20, 2023 |
The fastest way to get a salary increase and faster career growth in Nigeria is by job hopping. Loyalty doesn't pay 117 Likes 8 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Rubyjade: 7:25am On Jun 20, 2023 |
![]() olamilarks: 1 Like |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by DolbyDigital: 5:21pm On Jun 20, 2023 |
Most companies think it is OK to pay so little to people who are passionate about their work. Spending over 8 years in the last company I worked with is the biggest mistake of my life. I didn't really care much about the salary when I made my career debut. I was young, 21, and fresh out of school when I got the job and I was just excited about practising what I learnt in school. As I grow older with more ends to meet, the realities of life started setting in. For the first time in four years, I realised that I was underpaid and the excitement started to wear out. Within that period of 4 years, the company witnessed massive growth, that we have to get bigger office spaces and recruit more hands. I keep negotiating for 80% salary increase which is already ridiculously low and the company keep stalling them. Although I didn't push for it aggressively because I do not like to appear entitled and I do not like to think my fate depends on something or someone other than me. It is easier for me to be that conservative because I have some side jobs I do that pay little, but it feels like a dagger in one's heart to know one is being cheated on and I know I am going to have to leave someday. It seems to me that the only people that matters in the eye of the management are the subcontractors, consultants, and the expatriates. As a senior member and team leader, I always tell my colleagues to give their all regardless of the poor pay, but seems that giving your all while suffering is harder that the thought I put to it when I preach to my colleagues to do their best. Subconsciously, my productivity started dwindly. My life feel paused, and slow and somehow I feel empty. I feel like something is wrong with my life but I couldn't figure out what I am doing wrong. I started waking up late, talking back at my boss, engage in unprofessional interactions, and not caring about what is going on in the office anymore. That is unlike me, I am aware of that but somehow I couldn't get myself to change. I know it is a matter of time for me to leave that company and their is so little sand in my glas. Before the excitement died completely, I know I have to leave. I started sending out my CV and surprisingly, I got another job faster than I thought. And what is actually more surprising is the fact that I got 200% increase in my salary for doing the same thing (a tiny little bit more) when I have been spending 4 years negotiating for 80% and the best they came up with is 30% (which is even the highest in my division that year). I loved my new job but after spending two years, I thought there is nothing wrong in applying for more challenging jobs. I started sending out my CV again and I had just accepted an offer with the pay about 420% increase from my first salary. 115 Likes 8 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by soundOsonic: 6:58pm On Jun 20, 2023 |
DolbyDigital:Your story is inspiring thanks. If you don't mind what is the area of expertise? 4 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Manny21: 12:26pm On Jun 22, 2023 |
The banks' top managers are reaping where they did not sow. Imagine a bank director earning about fifty million naira as salary while the rank and file of the banking industry earn take-home that will not take them home. Loyalty for what? 23 Likes 2 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by FalseProphet1(m): 12:26pm On Jun 22, 2023 |
Working in Nigeria is slavery. Know this and have peace. This I have seen. 10 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by WEALTHYLADYTIME(f): 12:27pm On Jun 22, 2023 |
COME AND ALSO COMPLAIN ON HOW THE BANK STAFFS ARE RUDE AND NEGLECT THEIR CUSTOMERS,AND JUST LIKE THE CUSTOMERS KEEP COMPLAINING ALL OVER THE INTERNET AND THE BANKS ARE NOT DOING ANYTHING ABOUT ITS CUSTOMERS COMPLAIN. THANKS TO ALL THE NAIRALANDERS PREACHERS AND EVANGELISTS KEEP IT UP. JESUS IS LORD WEALTH IS GOOD. 1 Like 1 Share |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by lavylilly: 12:27pm On Jun 22, 2023 |
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Re: How The Nigerian Banking System Is Killing Employee Loyalty. by hopefulLandlord: 12:28pm On Jun 22, 2023 |
It's the same everywhere not just in banking. even in football, players that jump from club to to club or threaten to leave get salary increases more than those that seem content to be there. that's why Ronaldo left for Juventus when Perez refused to pay him as much as Messi. Wizkid had to leave EME records of Banky W and create his own label when Banky kept lowballing him in negotiation. Truth is we do this also subconsciously in our personal lives too, we tend to lose respect little by little for those that are obviously loyal to us too and try hard to impress those that we are trying to win their loyalty. we defend such actions with "we no dey campaign after election". eg you met a new girl so you shower her with attention, take her out, dress sexy and check yourself in the mirror anytime you're to see her and a few hot steamy sex later you find it hard picking her calls because "you're busy and I forgot to call you back" you can't take her out because "money no too dey like that" and you start caring less and less how you look around her........ until you meet another girl and the cycle repeats itself Truth is if you study human behaviours and understand it you'd realise there's nothing special or different from the average human and the CEOs, they're people like the average human, just that they're successful in risks they took but scratch the surface and aside sophistication they still think like everyone else @dolbydigital glad for you bro. however don't make the mistake thinking you'd act much different from your former managers if you were in their shoes 28 Likes 3 Shares |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by lavylilly: 12:28pm On Jun 22, 2023 |
One-Man Business emoboy4u: |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by 43Ronin: 12:29pm On Jun 22, 2023 |
@ OP while I commend your write up, I must debunk some of what you said cos its very untrue. E.g When I was in the banking industry, I personally spent 3 years on a grade before getting promoted and I was considered to be a superstar as this was slightly faster than the industry average. Meanwhile, my friends at the Big4 got promoted three times during the same period. OP the embolden is a huge untruth. The Big4 are the least to promote talkless of 3 times promotion in 3 years(huge fantasy. Lol). My big bro started working in GTB(a big 4) at 2011. By 2013, he ported to another big 4(Access) where he got promoted to ABO. he spent 6 years there and got to SBO. Now after spending 1 year as SBO and managing to get a B appraisal that financial year, He ported to Stanbic where he got AM. He was about porting to sterling as DM/M before we advised him as his family to come join us where we were since he's papers were finally out. The whole process from ET to AM took him 11 years. His friends who remained loyal to that Big 4 just recently(in fact last month May) got promoted to BO. Some of them as still ABO after 11 years in a big 4. My advice to every young banker is to port with brain. If you are employed in the big 4 make sure your first and second porting are within that corridor. Do not stay more than 4 years at most in a bank on the same level. cos if you do, the industry regards you as redundant. Believe me you don't wana port from GTB to wema as an ET-ABO its career suicide. Most of those big 4 banks have their M's & SM earning up to 30M per annum(when u calculate salary, entitlement and PS) some of those big 4 even give their A/D/GMs personal jeeps with security, abroad trips for their family 2ice a year, official housing etc. And them they fraustrate the younger ones from climbing the ladder. Make the most of your time as a banker. Get promotion or get yourself in a juicy department like GRM/Admin. Don't ever slave for free. Regards ![]() 23 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Akwamkpuruamu: 12:30pm On Jun 22, 2023 |
Bank job is akin to the sound of the bitterkola and it's taste 4 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Kingsize4eva(m): 12:30pm On Jun 22, 2023 |
Na so |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Dougad: 12:30pm On Jun 22, 2023 |
Here to book space in anticipation of the "Don't work under any man, be your own boss" sufferhead crew. 2 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by LaIabobo: 12:30pm On Jun 22, 2023 |
Lol, just three years without promotion? There is nothing like employer loyalty in the corporate world. You need to jump ship to get to the peak of your career in short time. Spend max 2 years with one employer in the early to mid stage of your career. A former colleague/friend went from earning less than 100k as a contract staff to earning 560k under 2 years. He is still in shock as to how his life changed in the shortest period of time. Don't stay loyal to any employer. You might be relaxed in your current place and scared of a new place but trust me, job hopping is almost always worth it. 19 Likes 1 Share |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by DeeBaDan: 12:31pm On Jun 22, 2023 |
Ok |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by TsbAfrica: 12:31pm On Jun 22, 2023 |
Behind every yahoo boy cash out, is a banker ... I won't be surprised that bankers add it to thier prayer point for God to allow a yahoo boy approach them... Becasue the banking system uses them and eventually throws them out the window. Zero career security 2 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by oluwaseyi0: 12:32pm On Jun 22, 2023 |
B |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by maramara: 12:34pm On Jun 22, 2023 |
Nigeria system and labour laws does not enable growth or room for the average Nigerian, everything due to corruption is designed for the sole benefit of the top only, ethics and cursion is thrown to the wind, as long as you are connected 1 Like |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by oluwaseyi0: 12:34pm On Jun 22, 2023 |
G |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Bankowner: 12:35pm On Jun 22, 2023 |
Banks are no longer worried by staff attrition bro! Soldier go, soldier come. Same way one staff moves to seek higher grade and pay is same way staff from another bank will come to them for grade left by other staff. 5 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by YoungLionken(m): 12:35pm On Jun 22, 2023 |
Nigerians complain too much!! People leave Shell, Chevron, Aso Rock, White House, etc for something they deem mega/better. Even economics say that human wants are insatiable.. As an employee, always have the mindset that nothing lasts forever. With such orientation, you would always make the best out of every situation... 1 Like 1 Share |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Samabu07(m): 12:35pm On Jun 22, 2023 |
DolbyDigital:Congratulations mate. You took a calculated risk and it eventually paid off. What field are you in? What city are you in? As this factors will help those make a quick decision. |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Omoawoke: 12:35pm On Jun 22, 2023 |
Bank no be better place to work. The contract staff suffer the most all for peanuts 2 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by thisisit: 12:38pm On Jun 22, 2023 |
ASBIFIN .. Their umbrella body is another RUBBER STAMP egbekegbe like NASS 2 Likes |
Re: How The Nigerian Banking System Is Killing Employee Loyalty. by bunmioguns(m): 12:38pm On Jun 22, 2023 |
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Re: How The Nigerian Banking System Is Killing Employee Loyalty. by Menclothing: 12:40pm On Jun 22, 2023 |
The growth is needed reason for change of job banking industry promotes female easily Turkey shirts from 5k pod |
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