Bank unions defer strike on Wednesday as IBA raises offer by 1.5% | Business Standard News

Bank unions defer strike on Wednesday as IBA raises offer by 1.5% | Business Standard News

My VIEW:





The wage negotiation in
banking industry follows a traditional ‘snake and ladder’ pattern. The unions
submit a charter of demands incorporating skye-high demands. IBA comes out with
an offer practically offering zero-rise in take home salaries. Then both sides
continue ‘negotiations’ for a sufficiently long period to ensure substantial
payment of arrears (beneficial for union leadership in terms of ‘levy’
chargeable) and skipping two or three accounting years (beneficial for banks,
as during this period they can make ‘provisions’ and use interest-free funds in
their business in some form). At some politically convenient point of time, a
settlement’ gets announced.


It is high time, wage
revision across industries and sectors(public and private) is accepted as a
part of Human Resource Management of individual organisations and done in a
scientific and pragmatic way factoring in:


(i)               
Market- related minimum wages depending on
skill requirement.


(ii)             
The present day need to include incentive
and disincentive in remuneration package and ‘adjusting’ these at much shorter
periodicity than 5 years.


(iii)           
Implementing wage revision as soon as
possible after the expiry of each wage settlement.


(iv)           
Freedom to individual banks to pay more to
attract talent for specialised jobs.


(v)             
Some relationship between the minimum and
maximum remuneration in the  same
organisation. To start with CEO and a couple of top level employees may be kept
in an ‘exempted’ category.


(vi)           
The fear of impact of a strike on economy
should not be allowed to be used as a weapon by unions. Similarly, employer
should not use public indictment of withholding of work, when they face
practical problems when employees strike work as a cover for denying what is
genuinely due to the staff.


(vii)         
This being the first wage revision after
discontinuing defined benefit pension schemes, the load for providing for
retired life should be factored in, in the wage structure.


M
G Warrier, Thiruvananthapuram

Comments

Post a Comment

Popular posts from this blog

NAVAGRAHA STOTRAM

NAVAGRAHA STOTRAM* According to astrology, the positions of the nine planets in the twelve constellations of the zodiac and their movements are considered to be quite significant. The nine planets ‘Navagraha’ affect every aspect of human life. They play an important role in the activities, physical and mental health and life of any individual. The unfavorable positioning of any of these planets can be the cause of problems, bad health, and stagnation for many people. However, there is a solution to avoid the ill effects of the position and movement of the ‘Navagraha’ in our lives. Navagraha mantras (or stotram) are simple mantras which work as powerful healing tools to reduce the negative effects of any of the nine planets. These mantras are Hindu holy hymn addressing the nine planets. Benefits Of Navagraha Stotram And The Way to Practice The Navagraha Stotram is written b y Rishi Vyasa and is considered to be the peace mantra for the nine planets. They are powerful m
Read more

THE SUNSET OF THE CENTURY

*SUNSET OF THE CENTURY: Rabindranath Tagore THE LAST SUN OF THE CENTURY SETS AMIDST THE BLOOD-RED COLOURS OF THE WEST AND THE WHIRLWIND OF HATRED. THE NAKED PASSION OF SELF-LOVE OF NATIONS IN ITS DRUNKEN DELIRIUM OF GREED IS DANCING TO THE CLASH OF STEEL AND THE HOWLING VERSES OF VENGEANCE. THE HUNGRY SELF OF THE NATION SHALL BURST IN A VIOLENCE OF FURY FROM ITS OWNSHAMELESS FEEDING FOR IT HAS MADE THE WORLDITS FOOD, AND LICKING IT, CRUNCHING IT AND SWALLOWING IT IN BIG MORSELS, IT SWELLS AND SWELLS TILL IN THE MIDST OF ITS UNHOLY FEAST DESCENDS THE SUDDEN HEAVEN PIERCING ITS HEART OF GROSSNESS…   *Note: “The Sunset of the Century”, translated by the poet, from Naivedya; The English Writings of   Rabindranathtagore, Volume II,Delhi 1996, page 466. Quoted in his article ‘Critiquing nationalism’ by K Satchidanandan (Frontline, November 14, 2014). The article takes you to a much broader spectrum. HAPPY READING(READ MORE STAN
Read more

The King of Ragas: Sankarabharanam

                       The King of Ragas                      --------------------------     Long ago  serpents were put to lot of hardships.They  were afraid of other animals. They had to seek refuge in the hermitage of sage Saraba.The sage was a true devotee of Lord Shiva.He used to pray Shiva with melodious songs. As he sang a particular raga the snakes were much inspired and they began to dance,. Slowly the serpents became friendly with the sage. They brought water in their mouths for the pooja.They secreted  a special fluid in which the flowers got stuck to their bodies.The sage was much astonished by the service of the snakes.As the sarpas became very close to the sage ,they requested him to help having Darsan of Lord Siva. As requested by the sage Shiva appeared in the form of  a  Kapalika and stayed in the ashram.The music and dance of the snakes continued. The snakes rendered service to the kapalika as they considered him  a Shiva bhakta.Shiva was much pleased with t
Read more