Keystone Bank implements reward-based workers' appraisal system

Keystone Bank Limited has implemented a performance-based appraisal system that seeks to reward hardworking workers and disengage those whose performance falls below the satisfactory level.

The performance model, according to a statement from the Head of Corporate Communication, Mohammed Ciroma, has led to the promotion of 1,000 staff members.

This initiative, he explained, had also culminated in the early retirement and disengagement of some of the workers.

He reiterated that the bank remained focused on achieving credible business performance that would enhance the brand value whilst safeguarding the investment of shareholders, interests of the banking public and other stakeholders.

Ciroma said that the bank aimed to achieve consistent performance that would guarantee the sustainability of the bank's core business.

He said, 'The imperative is to achieve the critical balance between economic consideration and social responsibility. Keystone Bank aims to fulfil this trust with the utmost sense of responsibility and ethical commitment.'

He stressed that the management of the bank would continue to recognise performance whilst instituting best practices in human resources management that were globally acceptable for measuring underperforming workers.

'The bank remains consistent in implementing appropriate measures that will foster and build a highly engaged workforce to reposition Keystone Bank in the Nigeria financial sector; we aim to attract the best talents and professionals that will add value to our team,' he added.

Meanwhile, the company said business managers from across the bank's 200 business offices converged on Lagos last weekend to review the strategic plan of the bank for the remaining half of the year.