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UOB to implement pay increases and promotions across Group in June 2021

UOB to implement pay increases and promotions across Group in June 2021

This initiative will cover up to 98% of the Group’s total headcount across the region including Singapore, Malaysia, China, Indonesia, Thailand and Vietnam.

*Scroll below for the press release in Bahasa Melayu.

UOB has announced that starting June 2021, all eligible employees across the Group will be receiving a round of pay increases and promotions. This initiative will cover up to 98% of the Group’s total headcount across the region including Singapore, Malaysia, China, Indonesia, Thailand and Vietnam. This excludes senior management, it said in a statement on Tuesday (9 March).

The Bank’s push for a mid-year exercise, ahead of its annual year-end one, signals its confidence in a sustained economic recovery in 2021, the statement noted.

"Through this initiative, UOB is also recognising the tremendous efforts of its 26,000-strong workforce in helping its customers and the Bank emerge stronger from the COVID-19 crisis."

Under the Bank's pay-for-performance compensation approach, high-performing employees across the Group will receive "above market average" salary increases. This follows the early payout of the 2020 performance bonus payments, which employees received last month.

Further, as part of the Bank's pay-for-position approach, it will be granting mid-year promotions to individuals with widened job scopes and who exceeded performance expectations over the last 12 months. The timing of this is set to coincide with the mid-year performance review of each employee.

Commenting on the move, Dean Tong, Head of Group Human Resources, UOB, said: "With the green shoots of recovery appearing late last year and showing growth well into the new year, UOB has remained resilient. This is in large part because of the sense of purpose, strong team spirit and determination of our people.

"At UOB, our people come first. We have a fundamental belief in taking care of them and are committed to do all that we can to ensure their professional and personal fulfilment. Through this mid-year salary and promotions exercise, we are showing our appreciation to our people who gave their very best every day in service of our customers and the Bank during very trying times."

In September 2020, as economies and businesses suffered from the impact of COVID-19, UOB put a pause on salary increases and promotions in order to "protect the jobs and livelihoods of its employees."

As the Bank continues to take a "prudent and disciplined approach to managing its business", the review of compensation packages for senior management will be considered in a later phase, the statement concluded.

mr dean tong head of group human resources uob and mr wee ee cheong uob deputy chairman and ceo at the lau22601 

Dean Tong, Head of Group Human Resources, UOB and Wee Ee Cheong, UOB Deputy Chairman and CEO at the launch of UOB's Better U Programme


Kumpulan UOB mengumumkan kenaikan gaji dan pangkat bagi hampir 98 peratus kakitangannya 

*Press release by UOB

UOB hari ini mengumumkan pelancaran inisiatif kenaikan gaji dan pangkat untuk semua kakitangan yang layak di seluruh Kumpulan pada bulan Jun. Inisiatif kenaikan gaji dan pangkat secara meluas ini akan merangkumi sehingga 98 peratus daripada jumlah keseluruhan kakitangan Kumpulan di rantau ini termasuk Malaysia, China, Indonesia, Thailand dan Vietnam. Inisiatif ini tidak termasuk pengurusan kanan.

Dorongan Bank untuk melancarkan inisiatif ini pada pertengahan tahun, lebih awal daripada program tahunan pada akhir tahun, menandakan keyakinan Bank terhadap pemulihan ekonomi yang berterusan pada 2021. Melalui inisiatif ini, UOB juga mengiktiraf usaha gigih tenaga kerjanya seramai 26,000 dalam membantu para pelanggan dan Bank muncul lebih teguh berikutan krisis COVID-19.

Di bawah pendekatan pampasan bayaran berasaskan prestasi (pay-for-performance) Bank, kakitangan berprestasi tinggi di seluruh Kumpulan akan menerima kenaikan gaji yang melebihi purata pasaran. Kenaikan gaji ini juga adalah berikutan pembayaran awal bonus prestasi 2020 UOB yang diterima oleh kakitangan pada bulan lepas.

Sebagai sebahagian daripada pendekatan bayaran berasaskan jawatan (pay-for-position) Bank, kenaikan pangkat pada pertengahan tahun akan diberikan kepada individu yang mempunyai skop pekerjaan lebih luas selain menjangkaui jangkaan prestasi sepanjang 12 bulan yang lepas. Masa untuk ini ditetapkan berlaku serentak dengan penilaian prestasi pertengahan tahun bagi setiap kakitangan.

Encik Dean Tong, Ketua Sumber Manusia Kumpulan, UOB, berkata: "Bermula dengan pemulihan yang mula muncul pada akhir tahun lepas dan yang menunjukkan pertumbuhan baik melangkah ke tahun baharu, UOB telah kekal berdaya tahan. Ini sebahagian besarnya disebabkan oleh ketabahan, semangat berpasukan yang teguh serta keazaman kakitangan kami.

"Di UOB, kakitangan kami didahulukan. Prinsip asas kami adalah untuk menjaga kesejahteraan kakitangan, justeru kami komited melakukan yang sebaiknya bagi memastikan keperluan profesional dan peribadi mereka dipenuhi. Melalui inisiatif kenaikan gaji dan pangkat pertengahan tahun ini, kami menunjukkan penghargaan kami kepada warga kerja yang memberikan prestasi terbaik setiap hari dalam menyediakan perkhidmatan kepada pelanggan dan juga Bank dalam tempoh yang sangat mencabar."

Pada tahun lepas, apabila ekonomi dan perniagaan menghadapi kesukaran berikutan kesan buruk COVID-19, UOB menangguhkan kenaikan gaji dan pangkat untuk melindungi pekerjaan dan punca pendapatan kakitangannya.

Bank akan terus mengambil pendekatan yang berhemah dan berdisiplin untuk menguruskan perniagaannya, oleh itu, kajian semula pakej pampasan untuk pengurusan kanan akan dipertimbangkan pada fasa berikutnya.


Lead image / 123RF

Article image / Provided by UOB

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