At Bank of Cyprus we are committed to providing high quality services to our internal and external customers. To support the achievement of this objective we recognise the importance of being able to attract and retain staff of the highest calibre. The application of strategic and professional approach to recruitment is essential.

Our recruitment is based on the following values:

• Recruit Excellence – Committing to hiring people with the highest relevant technical and behavioural competencies who can fulfil the job’s requirements

• Source talent for today and tomorrow – Bearing in mind both the short and long term needs of the organisation

• Get the right people on the right place at the right time – Ensure proactive and timely staff recruitment

• Encourage and value diversity – From sourcing to hiring, appreciating differences

• Recruit Ethically – Ensuring a clear, transparent and fair recruitment process.

General Principles

We:

• Seek to recruit the best candidate for the job based on merit

• Ensure that all recruitment and selection procedures and decisions are transparent and reflect the Bank’s commitment to providing equal opportunity by assessing all potential candidates according to their skills, knowledge, qualifications and capabilities, without regard to gender, race, religion, belief or age

• Treat all candidates fairly, equitably and efficiently, with respect and courtesy, aiming to ensure that the candidate experience is positive irrespective of the outcome

• Treat all documentation relating to applicants confidentially and in accordance with the Bank’s Retention Policy and GDPR guidelines

• Ensure that procedures are in place for handling cases of Conflict of Interest

• Apply sound and gender-neutral remuneration practices, implementing the principle of equal pay for male and female workers for equal work or work of equal value

At Bank of Cyprus we recognise that our employees are key to achieving our Strategic Plan and objectives. We are therefore committed to ensuring that all staff has access to learning and development opportunities which create and/or develop the relevant competencies and right behaviours that are appropriate for meeting the Bank’s strategic priorities.

General Principles

• Equal opportunities to L&D should be provided to the Bank’s entire workforce at every stage of their career by ensuring that appropriate learning facilities and learning resources are available for use by all employees

• A life-long learning culture must be created by introducing various supporting learning and development opportunities / activities

• L&D plans must be in line with the overall strategy of the Bank and the specific strategic and operating plans of the business. Moreover L&D initiatives should support the development of the core, management and senior management competencies as well as the values of the Bank.

• New recruits must go through a timely induction programme (covering both the organisation in general and their role in particular), so that they are able to achieve maximum effectiveness in the shortest possible time both in terms of performance on the job as well as in terms of behaviour, which reflects the values and culture of the Bank.

• Continuous self-improvement and development of the knowledge and skills of all members of staff should be encouraged, so   that they become flexible and effective resources who can adapt to the continuous business changes and developments.

At Bank of Cyprus we are committed to providing non-discriminatory, unbiased, evidence-based, multi-angled performance appraisals, for our staff members.

The main objectives of the Performance Appraisal System are:

• Clear direction about the goals and the level of required performance to all staff

• Accurate assessment of the contribution of each employee based on Key Performance Indicators and Competencies

• Sincere feedback regarding the level of performance of the employee during the previous year

• Management and improvement of the performance and skills of each employee through targeted development actions

• Assistance to help employees to see how their jobs and expected contribution fit within the bigger picture of the organisation (“the big picture”).

• Transparency/Fairness – The outcome of each Performance Appraisal Procedure is viewable by all stakeholders. In this way complete transparency of the Performance Management is secured.

At Bank of Cyprus we are committed to recognising employees for their achievements in support of the Bank’s business objectives and overall success.Recognition encourages employee effectiveness which, in turn, can reap the extraordinary benefits of a highly engaged, highly enabled, productive and committed workforce. High levels of employee engagement, combined with high levels of employee enablement, can help organisations achieve significantly improved productivity, better customer satisfaction and superior financial returns.

Our aim is to encourage and acknowledge superior performance and contribution in all areas and job functions of the Bank and motivate employees to continue with high levels of performance and loyalty towards the organisation.

At Bank of Cyprus we reward our employees through Extra Mile for Actions and Behaviours that fall into the following categories:

• Change and Innovation

• Outstanding Contribution

• Team Spirit

• Customer Centricity

• Our Values

Recognition must be fair, transparent, frequent, timely and consistent. It is not an entitlement, even though all employees are eligible to receive it.

At Bank of Cyprus we are committed to providing career opportunities for all employees in order to improve both individual career development and business capability. To this end, employees have the opportunity to apply for open positions within the Bank in an efficient, consistent and transparent manner.

Priority for filling vacancies is given to internal candidates, wherever feasible. In cases where this is not possible (e.g. in cases of highly specialised positions which require special knowledge and experience) that is not available inhouse the external recruitment process may be initiated.

Employees discuss their intention of applying for an internal job with their manager. Managers shall not forbid or retaliate in any way against an employee who requests consideration for transfer.

At Bank of Cyprus we are committed to creating a working environment that encourages employees to become long-standing employees and good ambassadors for the Bank, both during their employment as well as after.

All stakeholders are aware of their rights and responsibilities.

The employee’s departure takes place as smoothly as possible.