Absa confirms voluntary separation scheme
Ryder Gabathuse | Friday March 13, 2020 16:15
Mmegi: Could you kindly confirm if it is indeed true that Absa Bank Botswana Limited has announced the Voluntary Separation Scheme (VSS) to its employees which is planned to be effected end of this month?
Absa: Our people are our strength and we are committed to providing an enabling environment that helps bring possibilities to life. After careful consideration, we have acceded to requests from some of our colleagues and embarked on a voluntary separation scheme exercise effective early March 2020. We trust, value and grow our people to achieve their full potential and this initiative comes as a result of listening to our colleagues.
We would like to confirm that this is not as a result of our recent brand change and remain committed to providing innovative financial solutions to our colleagues, customers and community
Mmegi: The VSS is alleged to be voluntary as the name implies. How many employees are targeted through this schem
Absa: As this is a voluntary separation scheme, there is no targeted number
Mmegi:Absa Bank Botswana Limited currently has how many employees?
Absa: We have 1, 164 employees working for the bank and a total of 231 direct sales agents
Mmegi: What happens when at the closure of applications you have not met the targeted figure of volunteers? Will there be forced exit?
Absa: Since this is a voluntary scheme, we have no targeted figures.
Mmegi: To both the bank and its employees, who stands to benefit from this exercise and how?
Absa: This will benefit employees who have been contemplating other options such as career change, early retirement, as it will create an opportunity for them to pursue other avenues in life.
Mmegi: To those who will opt for the VSS, what benefits are there for them in terms of exit packages?
Absa: Employee benefits are a private matter between the employer and the employee.
Mmegi: What has really necessitated the VSS when it has been promised that Absa Bank Botswana Limited will not downsize or retrench employees once the take over from Barclays Bank Plc was done?
Absa: We have offered the voluntary separation scheme in response to requests from some of our colleagues, as a way of showing our commitment to providing an enabling environment that helps bring possibilities to life for our colleagues. We trust, value and grow our people to achieve their full potential and this initiative comes as a result of listening to our colleagues.
These changes are not as a result of our recent brand change
Mmegi: Botswana Bank Employees Union (BOBEU) members working for Absa Bank Botswana Limited have cried foul that the period they have been given to consider applying and exiting the bank was rather too short.
Applications for VSS opened on March 12, 2020 and the envisaged closing date is March 20, 2020 with a view to exiting employees by March 30, 2020. What’s your comment on this?
Absa: The voluntary separation scheme started early March 2020, and will complete in May 2020.
The exercise is completely voluntary and we have put in place all the support that is required by our colleagues in considering the scheme.