Aduragbemi Omiyale
By Aduragbemi Omiyale
To cushion the harsh effect of the removal of subsidy on premium motor spirit (PMS), also known as petrol, by the federal government, Wema Bank Plc has increased the salaries of its employees.
Since President Bola Tinubu declared on May 29, 2023, that “subsidy is gone”, prices of goods and services in the country have astronomically gone up, forcing many to appeal to the government to allow the citizens to breathe because of the resultant hardships.
Worried that some of its members of staff could be going through a tough time because of this government policy, the management of Wema Bank approved the upward review of the worker’s pay.
According to the lender, the impact of this salary increment 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 recognized and rewarded.
It further said there are new levels of morale, leading to enhanced productivity, improved teamwork, and reduced turnover rates, significantly creating a more harmonious and dynamic work environment where the creativity and innovation for which it is acclaimed flourish the more.
The bank said this move showcases its dedication to employee welfare and well-being, urging other financial institutions to prioritise the well-being of their staff through the establishment of similarly empathetic and compassionate working environments.
Wema Bank said it understands that its employees are its most valuable asset, and by providing a competitive and fair remuneration package, it aims to attract and retain top talents in the industry.
