Download - African Bank

services of the best employees. These
include:
Designing and implementing a
company-wide incentive scheme for
employees at all levels. It was put in
place to motivate and directly
influence the behaviour of individuals,
teams, business units and the
organisation. The incentive scheme
allows the lower levels of staff to
take ownership of the business.
A share option scheme for senior
and middle management levels.
Initially, the scheme applied to all
employees. Due to the amount of
shares involved, the complexity
of the scheme and lack of
understanding regarding the tax
implications among the junior levels
of staff, it was streamlined for
middle to senior management.
A profit-share scheme has been
introduced for middle to junior
employees to compensate them
for the change to the share
incentive scheme.
The implementation of a
standardised group-wide
performance management system,
which measures an individual’s
performance against predetermined
criteria or key result areas, and
rewards the individual accordingly.
The implementation of a group-wide
standardised broad-banding
approach to salary levels. This will
ensure equity, both internally and
externally, while still allowing flexibility.
The aim of compensation, benefits and
incentives within the company is to
adopt a holistic approach that will
enable it to bridge the gap between
organisational objectives and goals, and
employee aspirations and expectations.
Putting People First Programme
The African Bank Retail and Collections
divisions have continued the substantial
investment in the Putting People First
(PPF) programme that started in June
2002. The combined PPF spend was
more than R3 million over the past year.
The focus of the initiative has remained
on employee well-being and
demonstrating the bank’s commitment
to all staff members. The programme
forms an integral part of the philosophy
and culture of the organisation with its
core values of belief in the individual
and encouraging personal growth.
Programme activities include:
The employee well-being clinics
render an invaluable service to
employees and their immediate
families once a week at central and
regional offices
Two duvet days per year
A day off in the staff member’s
birthday month
A travel cost-saving/sharing scheme
Incremental leave days – rising per
salary band
Loyalty reward programme for
employees in levels 3 to 6 where
they accumulate a guaranteed 60
points per month and an additional
allocation is made for performance
twice per year. These points are
redeemed for a variety of goods or
retail vouchers.
Fun days – a themed fun day is held
each month for staff. They offer an
opportunity for social interaction
and exploring diversity within the
company, as well as a means for
employees to contribute to local
charities.
Group schemes – negotiated with
Standard Bank, Alexander Forbes
and Hewlett Packard so that staff
can enjoy the financial savings
generated by these partnerships.
Credit Indemnity has launched an
employee assistance programme for
the early identification of employees
with personal problems and to
motivate these individuals to access
assistance to resolve personal
problems.
Health screening or personal
development for executive staff –
senior staff members have the
option of attending a personal
development course of their choice,
or undergoing a comprehensive
health screening once a year.
Excellence awards – this programme
continues to recognise employees
who have excelled in their
departments and regions. Criteria
include a staff member’s
contribution to the company in
productivity, cost savings and sales
performances, as well as individual
performance ratings.
Unions
The bank has excellent working
relationships with the industry’s union,
SASBO. Although a recognition
agreement is not currently in place,
one-quarter of the total staff
complement are members of the union.
In line with standard practice, African
Bank will sign a recognition agreement if
more than 50% of employees become
members of the union. There is mutual
respect between the bank and the union
and issues are dealt with in a consultative
and transparent manner.
Corporate social investment
The African Bank Foundation
This is the second year of the African
Bank Foundation’s existence since its
inception and launch in 2001. The
foundation is the dedicated vehicle
through which African Bank and its major
associates direct their social giving to
sound development initiatives.
The foundation gives African Bank the
opportunity to have a formal and
coordinated programme of effective and
purposeful social investment.
Last year the foundation reported on its
work and the type of projects it funds.
The report largely focused on the
monetary contributions to projects that
promote social upliftment. This year, the
foundation elaborates more on internal
structures in this report.
The board annually invests a percentage
of the bank’s profits into the foundation,
to enable the foundation (a registered
trust) to identify and support
programmes in line with both
government and civil society’s needs
and priorities. The group is proud of
this commitment.
The foundation is uniquely formulated in
comparison to other foundations in that
it does not partner numerous projects. It
has instead partnered with three large
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African Bank Investments Limited