New voluntary exit program at Alpha Bank

A new targeted voluntary exit program is being implemented by Alpha Bank, with the aim of the continuous development of its business and operational model, strengthening its efficiency and forming a new customer service model. Alpha Bank is reportedly offering a very attractive voluntary exit package aimed primarily at employees whose jobs are affected by the transformation in the way its business units and branch network operate. Among other benefits, the program provides compensation of up to 170,000 euros for immediate departure and up to 200,000 euros for sabbatical. The expression of interest period begins on Monday, February 6 and ends on Friday, February 17, 2023.

Withdrawal options and conditions

The program applies to employees who have at least five years of service at the Bank, while staff who choose to participate are offered two basic options: immediate retirement or a three-year paid leave (sabbatical), during which the Employee has no obligation to provide work to the Bank. The upper limit of compensation for immediate departure is set at 170,000 euros. The program provides a premium for employees aged between 45 and 55 who are employed in the Store Network in customer service support positions, while an additional premium is specifically provided for provincial Stores (outside Attica and Thessaloniki).

Finally, employees who sign up for the program during the first week of its implementation will receive a 5% increase. For the 3-year sabbatical, the maximum ceiling is set at 200,000 euros, with the employee receiving 55% of his gross salary throughout the sabbatical. Attractive in choosing the sabbatical is the condition – applied for the first time by Alpha Bank – which foresees in this category, an advance payment of 40% of the final incentive to cover current needs. Up to 90 net wages, cover for Employees over 56 until their retirement and other benefits The scheme is designed to offer the maximum possible benefit, as the majority of those who choose it receive 60 net wages and in some cases the compensation reaches up to the 90 salaries. For employees over 56, the incentive corresponds to salaries that cover the period until their retirement. In addition, employees who will participate voluntarily retain all the favorable arrangements and conditions on loans and cards, until the date of their repayment, provided that are served normally. They also receive the entire individual savings plan (employee and Bank contributions, including returns), while retaining additional hospital coverage for three years after retirement, if this is immediate or throughout the sabbatical, depending on choice.

New highly specialized positions and promotion of internal talent

The Voluntary Exit Program complements the network of initiatives for the renewal of the Bank’s human resources. At the same time, a broad training and empowerment program for the Group’s staff, as well as the new organizational structure being adopted, will strengthen mobility and expand advancement opportunities within the Bank. In this context, the new jobs that will arise will be covered, both by internal movements and by attracting new executives from the market. Among other actions for its active connection with the labor market, the Bank aims to attract new graduates who wish to pursue a career in banking and to support new, modern practices in customer service.

Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.