Bank employees unions contest proposal for performance linked pay

Bank employees unions contest proposal for performance linked pay

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Bank employees unions contest proposal for performance linked pay

New Delhi:

Bank employees unions

have expressed their stiff opposition to any move to introduce performance
linked incentive for

public sector banks

proposed by Banks Board Bureau (BBB) chief Vinod Rai.

This will be a prelude to introduce differential pay as also the concept of
Cost to Company at a later stage, All India Bank Officers’ Confederation
(AIBOC) said in a statement. 
“Setting performance parameters at various levels of banking functions does
not fit well into the banking environment as there are multiple functions
for a few and specialist functions for another lot,” AIBOC General
Secretary Harvinder Singh said. 
Moreover, he said, such parameters may not work well with the functionaries
in controlling offices who undertake jobs of evolving and implementing
policies and guidelines at the back office.
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The unilateral introduction of such practices are aimed at by passing the
bipartite machinery and casting employees against their own colleagues, he
added. 
Earlier this month, BBB has said it is thinking of the fact that the
compensation package across the board of public sector banks needs to be
improved. 
“Maybe, we are not able to do much with the fixed part of compensation
package but variable part we are hopeful that in the next financial year we
will be able to introduce a far more attractive package which do have
bonuses, ESOPs and other performance linked incentives as part of the
package,” Rai had said. 
National Organisation of Bank Workers vice president Ashwini Rana said
there are certain jobs in banks whose tangible gain cannot be measured
especially assisting staff. 
So, the introduction of performance linked incentive will lead to
inequality, favouritism and discrimination, Rana said, adding it may turn
counter productive. 
AIBOC demands, instead, to finalise a better and satisfactory wage packet
which has to be superior to 7th Pay Commission through the bipartite
machinery already in force, in the best interests of the banks and the
economy. 
So, far the wage revision negotiation were covered through all member banks
in the country public sector as well as the old generation private sector. 
“There are attempts on the part of a few in the government, IBA as well as
the recently constituted BBB to pursue bank level settlement. AIBOC is
strongly opposed to this anti-labour and de-unionisation move,” it said. 
Wage revision for bank employees is due from November this year. 

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