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We wish to emphasize (as part of
an agreement to conclude a CA), that SBEU is fully agreeable to
implement a Performance Related Remuneration System (PRRS) for
AMFINANCE employees.
Such PRRS shall be equitable,
fair, transparent and enforceable and dynamic and with
appropriate safeguards. There should be regular reviews
and improvements. These key features must be present in a
PRRS:
All employees shall be eligible to
a performance related annual Bonus that shall be based on a
performance related system that takes into account the
individual employee performance, the bank performance, the
nature of 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:
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.
Where an employee is not satisfied
with his appraisal, he may invoke the Grievance Procedure under
through the Union.
However AMFINANCE, in a letter
dated 20 October 2004, the management wrote SBEU as follows:
Since there is a performance
based remuneration system in place we would like to maintain the
same without any change to the system in place.
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So what
performance system does AMFINANCE HAS?
What happens is the officer will hand over a form to the
employee who is directed to grade himself using pencil.
The employee passed the form back to the officer and wait and
wait and wait. He will never know how the officers and
manager's grade him. He will only knows his grade at the
end of the year. If he gets a bonus he has pleased his
boss. No bonus means his boss does not like him. If
he appeals, he gets a standard letter from the management that
decision is final.
And this is the system that the management wanted to retain.
In a recent memo for the payment of bonus for 2004, the top
management directed the Heads of departments (HOD) identify
those staff that will NOT qualify for the full one-month bonus.
"It should
only be based in you and your section head section head's
assessment, without conducting an appraisal with the staff
concerned".
In simple terms this means that the HOD will decided who will
NOT get the full one month bonus based on their own assessment.
There is no transparent performance appraisal.
And the HOD's recommendations must
be sent to HQ in SOFT copy - why? -Simple! - So that the grading
can be changed by anyone without leaving a paper trail.
So this is the so call
Performance pay system that the management of AmFinance wants to
keep. At all cost.
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