Bank workers clinch wage deals
Mbongeni Mguni | Friday April 11, 2014 11:42
Traditionally, the Botswana Bank Employees Union (BOBEU) grinds out long drawn-out wage talks with the six unionised banks, usually resulting in adjustments being made later in the year and backdated.
This year, talks with one bank, Stanbic, reportedly took a single day to complete, leaving the union to face First National Bank, Bank of Baroda and Capital Bank for the rest of the wage review season.
“We are not extremely happy, but fine with what we have secured for our members,” BOBEU general secretary, Lebogang Keabetswe told Mmegi late Wednesday.
“The financial year starts in April and the first payment of the salary adjustment will be in April. We have been able to finish before time this year meaning our members will be paid in line with the financial year,” she said.
Last year, bank workers received the increments between June and September, following protracted negotiations with the employers.
“When the increment comes six months into the financial year, it has lost its purchasing power and there is also a tax implication on top of the anxiety within our members,” she said.
“Management at banks has that certainty of increments written into their contracts but they are working with employees who don’t know what’s going to happen,” she said, adding that, “People sometimes become demotivated and as stakeholders, we are in this relationship together. The more workers are motivated, the better for our business”.
Keabetswe revealed that the union was able to secure a two-year deal with Stanchart, minimising the need for full negotiations next year. She said the secret to the faster turnaround in wage settlements was the approach parties had taken for the 2014/15 budget.
According to the secretary general, both sides softened their approach from previous years and found that settlements were easier and quicker to arrive. A High Court judgement last year also taught the union that it did not have to wait for and demand banks’ financial results before embarking on the talks.
“We said ‘let us see how to bridge the gap’ and our demands and their offers were not very far apart,” she said.
“Our previous demand for financial results would also delay us because some of these would only be done mid-April. Before we would go back and forth from our members.
“The court case last year was a point of reference for us and we saw that the financial results did not have a bearing on the negotiations, unless the employer claims not to have money to pay,” she said.
BOBEU is still in talks to unionise the remaining commercial banks, which include BancABC and Bank Gaborone.