While ALL
other Banks & Finance Companies operating in Sarawak have
granted or agreed to grant 2 salary increases to 12% and 9% to
their employees since 2000, the management of AmFinances
wilfully refused to grant a single sen to their employees.
For the Collective Agreement
effective 1/1/2003, SBEU members in other Banks and Finance
companies will get an extra of RM6.5 Million a year in salary
increses alone.
On average, members will get a
salary increase of about RM170 per month. Arrears
on salary will average RM3500 per member. Total
payout is more than RM8 million.
However AMFINANCE employees get
nothing.
This is despite the legitimate
efforts by SBEU the past 5 years to negotiate a Collective
Agreement for the employees. The management continued to
hoodwink, misrepresent and resort to all sort of unethical
tactics to frustrate the efforts of SBEU.
Meanwhile EON Finance, BCF, RHB
Delta Finance, Southern Finance have already implemented
similar terms and conditions in due course. Affin-ACF have
agreed to adopt the same CA. AMFINANCE REFUSED. |
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For the three
years from, 1/1/2000 to 31/12/2002, employees in all other banks
and finance companies got a 12% salary increase. Again
AMFINANCE gets nothing.
END RESULT
End result is
that based on real data and facts, employees get up to 66% less
than their counterparts in AmBank- which is part of the same
AmBank group.
Example, an
employee who joined AMFINANCE as a clerk in 1995 earns a gross
figure of RM1357 now. However if the employee were to join
any other bank that is governed by SCBA/SBEU Collective
Agreement, he will be paid RM2037.45 - a whopping
$680.45 or 50% more.
That translate
into RM95,263.00 yes more than RM100,000; when we
factored in EPF contribution. Enough to buy a single
Storey terrace house!
See table as below:
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PERFORMANCE BONUS?
The management claimed that they pay performance bonus. Here
are facts!
AMFINANCE pays an average of .08 to 1.25 months of basic salary
as annual bonus.. Only one employee gets an average of 2.28 months
basic salary. Under SBEU all employees gets a minimum of
2 months basic salary as annual bonus. On top of that most Banks
and Finance Companies pays additional bonus, ex gratia or
performance incentive.
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ANNUAL INCREMENT
AMFINANCE EMPLOYEES ANNUAL INCREMENT are dependent on the whims
and fancies of their managers. There is nothing to stop the
managers to reward their own cronies. When SBEU proposed a more
transparent system, the management reject it.
OTHER IMPROVEMENTS
& BENEFITS That AmFinance Employees are much worse off.
-
EPF Contribution of
16% instead of 12%
-
Mileage allowance -
Subsistence allowance
-
Family medical
limit/Insurance
-
Childcare allowance
-
Dental, Spectacles
claims
-
Housing Loan
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INTIMIDATION
Meantime the management propagate a culture of intimidation, fear
and misrepresentations to ensure that employees are kept out of
mainstream of industrial relations practice in the Finance sector.
So much so that AMFINANCE employees thought they have a good deal.
Really? AMFINANCE EMPLOYEES do not even get what their
colleagues in AMBANK are getting!
We urge all
employees in AMFINANCE to stand up for their rights. Don't let
yourself continued to be exploited and be discriminated against!!
Want to know
how AMFINANCE intimidates staff? How they cut overtime?
Cut benefits?
Watch out for next issue of SBEU Newsflash.
If this is how they
treat their own employees, one can imagine how the Finance Company
treat its customers.
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