At the first International Personnel Management Exhibition «Personnel EXPO - 2008» VAB Group presented the effective instrument of employee compensation package – the matrix of benefits.
It is an HR instrument, which allows building an effective incentive system almost in each company. The matrix is based on the employee’s position level (starting level position, specialist, middle manager or top manager), his/her needs and work experience in the company.
According to HR Director of VAB Group, Valentina Nikiforova, the matrix of benefits developed by VAB Group on the basis of its financial products, is based on needs of different categories of employees, is transparent and clear, can be easily adapted in any company and allows to assess and change the budget.
It is worthy to note that VAB Group uses the matrix of benefits not only for its internal needs, but also helps other companies to develop, fill in and implement the system of privileges and compensations on the basis of the same principles. For this purpose a special subdivision, VAB Employee Benefits, was created within VAB Group.
Reference dataVseukrainsky Aksionerny Bank (VAB Bank) has been operating in the Ukrainian financial market since 1992 and belongs to the group large banks in Ukraine according to NBU. In October 2006, VAB Bank became a member of VAB Group, a full-service financial group. Branch network consists of 25 branches and 143 outlets throughout Ukraine and a representative office in Budapest (Hungary). A large international company, TBIF Financial Services (Amsterdam, the Netherlands), is among the bank's shareholders. Total assets of VAB Bank amounted to UAH 6.7 billion as of 01 February 2008, total capital — UAH 675 million.
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