Remuneration and Fringe Benefits
Our New Generation Working Model AlterFlex: At Alternatif Bank, we have introduced a new flexible working model called “AlterFlex”. This model reflects our approach to employee experience in parallel to the realities of the new world of work and employment. AlterFlex is our new generation working model incorporating both flexible working and teleworking. Within this framework, our Head Office employees can telework two days in a week (Fridays and Mondays). As for our flexible working hours practice, our Head Office employees can determine the start and end times of their work day, provided that they are in the office between 10.00 and 16.00 (core working hours) and that they complete a 9-hour work day, including 1-hour lunch. Flexible working hours apply to teleworking days as well. The Head Office teams that may not telework due to the nature of their roles and all our branch personnel are granted two extra days of administrative leave in a year within the framework of AlterFlex.
Alternatif Bank’s remuneration policy is based on fair wage management principles, and its objective is to create a corporate culture focusing on high performance through a “Total Earnings System”, whereby employees are differentiated according to their individual performance levels.
- The gross yearly salary is paid in instalments over 12 months.
- The Bank makes bonus payments to its employees once a year, depending on the achievement of targets and their individual performance level.
- The employees are given meal cards for lunch.
- Head Office employees can commute using the contracted shuttle service.
- Private health insurance coverage is provided for our employees as well as for their spouses and children.
- New employees can join the Private Pension plan supported by the Bank after 6 months. Under this plan, the Bank contributes to the private pension savings of our employees.
The annual paid leave policy of the Bank is implemented according to the below mentioned seniority levels:
- 1-5 years: 15 working days
- 6-15 years: 20 working days
- 16 years and more: 26 working days
We also grant administrative leave to our employees for family matters and special days, as follows:
- One-day leave for birthdays,
- Half-day leave on the first day of school and report card days for employees who have children attending elementary school,
- One-day leave for school enrollment procedures after High-School Entrance Exam.
Our Bank determines the compensation policy for its employees in accordance with the provisions of the applicable Labor Law legislation. In this context:
- Severance pay is paid to our employees whose employment contracts are terminated due to the reasons stipulated in the law, or to their heirs in the event of the employee's death, within the framework of legal regulations, taking into account the seniority period and wage of the employee in question.
- Pursuant to Article 17 of the Labor Law No. 4857, the wage (notification indemnity) for the notice period determined according to the seniority of the employee is paid in advance or the notice period stipulated in the law is made available by notifying that the employment contract will be terminated at the end of the period and by giving a job search permit.