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New Collective Agreement
2006-2008
SBEU
PROPOSE 49% SALARY INCREASE
SBEU has proposed a 49% salary
increase to help cushion the suffocating impact of the fuel prices
increase. While 49% may sound high, it is still much lower than almost 100%
increase in the price of diesel.
Our Current
Collective Agreement (CA) expires on 31 December 2005. We have asked
members to tell us what they want in the new CA. Members have responded
enthusiastically with numerous suggestions and request.
We expect
negotiations with the Banks to begin in May 2006 and hope to conclude an
agreement by 4th Quarter 2006.
To further
improve productivity and efficiency, SBEU has once again proposed a
performance pay system. Part of annual bonus shall be based on a
performance. Though highly controversial, SBEU believes that PRRS is the way
forward because it 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.
We are also proposing to
include sales and marketing staff and non executive officers to be under the
scope of the new CA.
The complete
proposal is
available |
