The management of Diamond Bank have repeatedly argued that the reason for disengaging over 400 staff was performance based. A growing group of about 200 affected staff feel constrained to properly inform the regulatory authorities and general public on the facts of the situation and to put the issues in proper perspective especially with the increasing recurrence of such statements at several publication.
The various statements made by members of Diamond Bank Management that the disengagements were purely a normal part of the bank’s performance management process in which poor performers are laid off is totally UNTRUE and FALSE.
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Going by the bank’s last performance appraisal exercise concluded in February 2016 and covering the half year period ending December 2015, majority of the over 400 staff affected in the retrenchment obtained appraisal scores in excess of the minimum recommended score (50% and above). In fact, majority of the affected staff have successive appraisal scores of 70 – 90%. Some of the affected staff were promoted within the past one year and could not have possibly turned so intolerably poor in performance as to be laid off in less than one year.
As has been hinted by the CEO; the retrenchment appears to have been occasioned by a “restructuring” of the bank owing to obvious reasons, but the parameter for determining who is affected is not transparent and clear. However, for whatever may have necessitated the retrenchment, it is obvious that the action of the management rendered otherwise active, well trained, highly motivated and productive staff REDUNDANT even when they are ready and most willing to work and contribute to the growth of the bank.
The disengagement did not follow the due process for handling redundancy, hence the action was thrown at the affected personnel with a sudden rude shock and caught them all unprepared. There was no discussion or warning prior to the sudden disengagement which the affected staff first became aware of when they got to work on the morning of May 27th to discover that they have been barred off the bank’s network and a termination mail sent to their private email addresses, and then further asked to resign by word of mouth through their line supervisors.
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This is certainly not the best way to disengage dedicated staff some of whom have spent over 15 years of their lives in the service of the Bank. It is totally unfair to disengage staff in such manner without warning, and without any severance pay or compensation and yet presenting the case in such a deceptive manner which portray the affected staff as UNEMPLOYABLE.
However, in the interest of industrial harmony and integrity, accountability which Diamond Bank hold dear as its core values;
Diamond Bank should reverse all the debit postings on exited staff account, thereby causing affected accounts operate in negative balances.
Diamond Bank should immediately retract its comments and correct the impression that the disengaged staff were non-performers. All recent appraisal scores which does not support that assertion still exist.
Diamond Bank should retrace its steps and treat the disengagements as declaration of redundancy as it is meant to have been done (following the procedures laid down in labor relations laws and observing all prescribed conditions for such disengagement).
The above should be done to enable the affected staff move on with their careers unhindered by the negative impression created by the bank’s statements which has tagged them as non-performers.
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