Bank sees employee welfare as priority

The National Business

Bank South Pacific has signed an agreement with the Papua New Guinea banks and other Financial Institution Workers Union on the rights of bank employees.
The Industrial Award 2017 governs the relationship between BSP and the union in respect to terms and condition of employment in PNG.
BSP chief executive Robin Fleming said employee welfare for the bank not only involved building staff capabilities but also ensuring they enjoyed the “best employment terms and conditions in the market”.
“As an industry leader, we believe in ensuring that our staff welfare is our number one priority,” he said.
“After all, the success of any organisation hinges on valuing its employees.”
Union general secretary Vera Raga said the agreement also covered areas that were usually limited to private sector employees in regards to the Employment Act.
“The agreement is comprehensive and contains benefits not normally enjoyed by private sector employees who are subject to the minimum or barest conditions of the Employment Act 100,” Vera said.
“A key feature of the agreement is job security to ensure employers must have substantiated reasons to terminate employees, and that employees are given a real opportunity to respond to allegations of impropriety or breach of process.”
The agreement includes:

  • An increase in call/standby allowance;
  • increase in meal allowance;
  • a revised redundancy/retrenchment matrix to one month pay for every year of service; and,
  • An increased limit for repatriation of personal effects for employees.

Raga said the union had about 2500 members and planned to increase this to about 6000.