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5% PLUS 2% - After
another 2 rounds of tough negotiations in June & July, SCBA has
made a Final Offer of an additional Salary adjustment of 2% - as
additional premium for adopting a PRRS system.
The PRRS system entails that the Annual Bonus be paid as
follows:
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One Month Fixed Bonus.
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All employees will receive an
average of one month based on their performance appraisal.
Employees may received higher or lower than one month, but the
total pay out for all employees (excluding the one month fixed
bonus) will average at least one month.
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1st Year of implementation -
the average must be at least 1.25 months.
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Employees not satisfied with
their appraisal can invoke the grievance handling procedure.
This means that SBEU will have a meaningful say in the way that
members are appraised.
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Individual Banks can only
implement the PRRS if they have a proper and transparent
appraisal system.
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While SBEU is committed to a
PRRS system because we are convinced it will benefit all SBEU
members in the long run, we feel that the current offer by SCBA
is inadequate.
We intend to make a final presentation to Association of Banks
(ABM) to convince them to improve the offer. ABM is where all
the CEOs of the Bank are represented. In SCBA only Head of Human
Resources are represented.
We hope to make the presentation to ABM before end of August.
Once we get a response from ABM, we will then meet all SBEU
members to make a decision.
We do hope all CEOs are forward looking and will support ABM's,
MCBA/SCBA's and SBEU's efforts to develop a remuneration pay
system that is flexible, progressive and competitive to move the
banking industry forward.
We are now entering a crucial phase - It is make or Break and
we do hope that we can avoid industrial actions.
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