Compensation
UBA’s goal is to be the employer of choice. To that end, we have implemented an industry-leading and performance-oriented remuneration structure.

1. Provide a total compensation package that enables UBA to attract and retain highly skilled and quality employees while recognising the need to manage payroll costs.
2. Benchmark employee compensation against other reputable financial institutions.
3. Reward employees for outstanding performance.
4. Motivate employees to encourage desired attitudes.
5. Focus on shareholder value creation and long-term wealth from stock ownership.
6. Alignment with and support of UBA business goals and objectives which use an objective method to assessing employee performance.
7. Appropriate balance between short-term and deferred/long-term compensation elements.

Performance Management
UBA implemented a new performance management system in 2008. This system, which is driven by the principles of the Balanced Scorecard Approach, was implemented across the Group. The Balanced Scorecard is a strategic planning and management system that uses both financial and non financial metrics as a business planning and performance measurement mechanism. Performance measurement is viewed from four perspectives:

• Financial;
• Internal process;
• Customer service; and
• Learning and growth.

The introduction of performance incentive pay is in line with UBA’s commitment to boost employee morale and increase productivity. High performers are objectively identified and rewarded appropriately in line with predefined percentages of their pay.

Another key initiative under the new performance management system is the effective career management of exceptional performers at UBA. This pool of people commonly referred to as “Most Valuable Performers” will have their careers actively managed by the Human Capacity Management (HCM) team.