Reward and Benefits
Our Reward Philosophy, Reward Packages, Performance Rewards and Recognition Programmes
Our Rewards Philosophy
FirstBank’s reward philosophy aligns with our strategic aspiration of being the top-three employer of choice. Reward programs have been designed to continuously improve employee experience, motivate and drive desired performance and competencies towards employee productivity.
FirstBank’s reward package includes Remuneration, Perquisites and Benefits which position the Bank as an employer of choice within its pay market. With a well-packaged, attractive and sustainable compensation structure, FirstBank offers an externally competitive and internally equitable reward structure to attract, retain and engage a diverse talent pool for competitive advantage.
The Bank offers a rich mix of employee benefits available within the industry across all grades. These include but are not limited to leave, medical coverage, subscriptions, and deferred benefits such as pensions, etc.
Perquisites are structured to ensure comfort, motivation, commitment and retention of our top talents.
In order to ensure FirstBank remains a hub for the best talent in the banking industry, various performance, discretionary and recognition schemes are already in place to reinforce and reiterate the desired performance culture in the Bank.
The FirstBank’s Annual Merit Awards programme reinforces the performance campaign by celebrating highfliers i.e. employees who have consistently outperformed their peers by delivering exceptional performance on the job over and above the expected threshold.
The growth and success of the Bank is largely dependent on having strong, capable and loyal employees. Hence FirstBank recognizes their contributions towards the progress recorded by the Bank. The Long Service Recognition program is designed to motivate, engage and retain employees towards achieving specific or exceptional milestones.