Are you an excellent employee? Is your KPI outstanding?
If not, better pull up your sleeves because below-par performance is not a good omen for you professionally due to the fast changing corporate culture in the UAE. Further, it is set for more competition and only ‘excellent’ employees will be rewarded.
In an unprecedented announcement in the UAE corporates, a public joint stock company has come forward to award up to Dh20 million to excellent employees.
Ras Al Khaimah-based pharmaceutical firm Julphar, which is listed on the Abu Dhabi Securities Exchange, has announced that its board will review a proposal of issuing ‘convertible bonds into shares which will be allocated to excellent employees and locals of the company amounting Dh10 million to Dh20m’.
The company announced this in a statement to the Abu Dhabi bourse on Monday.
As part of its efforts to boost Emiratisation, the pharmaceutical major announced in September 2014 that it would recruit 60 UAE nationals every year to reach 300 over the next five years.
Julphar registered revenue of Dh1 billion in the first three quarters of 2014, up 1.9 per cent year-on-year. Its gross profit remained unchanged during the period at Dh590m while profit for the period was Dh161m, down 3.5 per cent.
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UAE firm announces Dh20m reward for 'excellent' employees
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