Over 70% Bank Staff plans quitting over low salaries and unrealistic targets

Over 70% Bank Staff plans quitting over low salaries and unrealistic targets

It was conducted among 14 banks including, Fidelity Bank, GCB Bank, Ecobank, Barclays, Omni Bank, Stanbic Bank and the defunct Capital and Sovereign banks.

According to the report, 24,300 people are currently employed in the banking sector.

The report said 99 percent of the over 2,000 respondents disclosed that their banks have swayed from their core visions.

The report revealed that 70 percent of bank workers are not happy with their salaries.

Also, 79 percent say their performance targets are unrealistic and unattainable with extremely tight schedules.

About their dislikes, the bank workers disclosed that a high number of them virtually live on borrowing from their employers as they are given various facilities which make them live beyond their means.

Over 70 percent want to leave the bank industry for the Oil and Gas industry, while 21 percent want to start their own business.

Twelve percent want to leave the banking industry for any job available.

Asked if they would want to switch banks, 52 percent said they want to leave their banks for the Bank of Ghana, while 16 percent want to leave their banks for Ecobank.

According to the report, 14.2 percent want to work with GCB Bank, while 12 percent want to move to Fidelity with 5 percent seeking to work with Stanbic Bank.

This comes at a time when the banking sector is in crisis with the Bank of Ghana embarking on various reforms to strengthen the industry.

Managing Partner at Acreaty Ghana, Elsie Appau-Klu, says the latest statistics could have a negative impact on the entire banking sector.

“It could mean that the banking sector for some time may not have the competent people to work with. If there is a perception that the banking sector does not really reward people or nurture people, people wouldn’t want to work in that sector and that will be a major struggle for the growth and development of banks.”

Acreaty is therefore urging the banks to initiate policies that will promote employee welfare necessary for the growth of all departments within the banking sector.

In the last one year, seven indigenous banks have collapsed due to mostly liquidity challenges and in some cases poor governance structures.

Source: citi

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