Our Renumerations, rewards and compensation policy
We take a holistic view of various factors to determine and to ensure that an employee’s total compensation is fair. This is done with the objectives to reward contributions, motivate and retain talents.
Performance-based variable pay is linked to the performance of the Bank, business functions and the employee’s individual achievement of performance targets. The performance of each employee is evaluated based on a mix of performance objectives, competencies and behaviours that uphold the uab Values. Variable pay of each employee is dependent and differentiated by the employee’s performance at the end of every year.
The Board of Directors and Senior Management conducts regular reviews of the remuneration policy to ensure that compensation practices and programmes are consistent with regulatory requirements and are responsive to market developments. Remunerations, rewards and compensation are viewed beyond short term financial measures and looks at the longer term sustainability objectives.
Our People Development policy
uab is committed to growing and nurturing our people through training and development conversations. Our practical approach to people development is based on the principle of 70 – 20 – 10. A blended learning and development method, this approach extends traditional training into the workplace by capturing the reality of workplace learning.
70% - Learn & Develop Through Experience (Informal)
20% - Learn & Develop Through Other People (Informal)
10% - Learn & Develop Through Structured Courses / Training (Formal)
Our formal training and development programmes are offered to employees in all levels from Non-Executive to Senior Management.
Over the period of 6 months (April to September 2018), on top and above the informal learning at workplace, uab had also conducted formal training / learning classes and workshops to equip our people with relevant knowledge and skills to be successful in their workplace.
• 803 employees attended formal classroom training
• 150 senior and middle management attended formal development conference
• Recorded 8,004 formal training and development man-days
• Recorded average formal training and development man-days per staff of 3.8 days
Our Diversity, equal opportunities and Inclusion policy
At uab, we are committed to creating a diverse yet inclusive workforce where our people can perform at their optimal level and realize their career potential in a meaningful and rewarding manner. Our diversity values guides us to understand that each individual is unique, and recognizing our individual differences is key to creating a harmonious and productive work place.
Our workforce includes people from various nationalities, race, ethnicity, age, physical abilities, socio-economic status, religion, political beliefs, gender, sexual diversity and orientation. Today, we have expatriate colleagues from various nationalities and local colleagues of different age groups; all working together in an environment where they are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to achieving the Bank’s objectives and success. Such diverse strengths of our people enrich our business competitiveness besides making our people more sensitive and better adjusted to the varied banking needs of our customers.
Our people have equal career opportunities in the Bank. From recruitment to every stage of their progression, it is primarily driven by competencies. The Bank puts strict guidance on the practice of diversity and inclusion in our every department’s processes and practice.