A concerned Malaysian writes about Malaysian affairs. "You are the Change you Seek" Barack Obama

Sunday, November 4, 2007

Banks and Unhappy Employees...

Perhaps the government has given the private sector a wrong signal by giving such a massive pay increase without taking into account the effect on inflation.

So now the NUBE is organising pickets to demand a 30% salary increase plus the retention of the 2 months bonus that the banks want to abolish. You can read the article from malaysiakini and watch the video.

The people involved in the pickets do not seem to know what they are fighting for except to be swayed by their leaders.

Instead of simply making demands that banks are making excessive profits they should propose a more realistic framework of how employees can also share some of the bank profits.

A more acceptable plan would be a 15% to 20% salary increase; the retention of the 2 months bonus plus a flexible wage component that will be paid by the bank based on perhaps a percentage of annual profits after tax.


Zawi said...

h j angus,
Its just that the employees were pissed off when to management has been getting hefty bonusses whereas they get only pay increase. A two months bonus is bigger than a percentage increase in Salary.
banks has been reducing staff size substantially so any saving should filter to the staff too and not just top management.

H J Angus said...

Yes top management do get hefty bonuses and the idea to get rid of the bonus was not enlightened at all.

Trying to pull a trick on the workers.