New Collective
Agreement 2006-2008
What
Members Want
Our Current Collective Agreement (CA) expires on 31 December
2005. SBEU is currently preparing our proposals for a new CA.
We have asked members to tell us what they want in the new CA.
Members have responded enthusiastically with numerous
suggestions and request.
We now compile these responses. We urge members to look through
and see whether there is anything else that they want to see
included in the new CA. Members can still give their views and
suggestions to reach SBEU HQ by 20th December 2005. We will
carefully consider these requests and formulate rational and
feasible proposals to the Banks and Finance Companies before 31
December 2005.
Please note that these are still proposals that have yet to be
agreed to by the Banks and Finance Companies. We expect to
receive the counter proposals from the Banks by end of January
2006 and negotiations to begin by March 2006.
SBEU will continue to push for a performance pay system. As a 1st
step, we may propose that annual bonus shall be based on a
performance. Though highly controversial, SBEU believe that PRRS
is the way forward will be beneficial to all members in the long
term. By having such a system in the CA, SBEU can prevent
abuses that will occur if we allow banks to implement their own
systems.
Annual
Bonus shall be based on a performance related system that takes
into account the individual employee performance, the bank
performance, the nature of the job, the banking industry
performance and other relevant factors.
The
individual performance shall be appraised through an open
appraisal system. Such system shall amongst others, have the
following features:
v
Clear and
objective targets for the employee shall be set and agreed with
the employee - such targets shall take into account the views of
the employee and the union
v
Where an
employee is not satisfied with his appraisal, he may invoke the
Grievance Procedure under Article 4.
The bank
shall provide full disclosure of all related statistics and
accounts including management accounts when determining bank
performance.
Below is a summary of the various requests from members:
