Collective agreements are legally binding agreements between employers and employees that set out the terms and conditions of employment. In Malaysia, the National Union of Bank Employees (NUBE) is one of the most active unions representing workers in the financial sector. In 2018, NUBE negotiated a new collective agreement for its members that brought several important changes.
The collective agreement sets out the salaries, benefits, and working conditions for employees in the banking sector. One of the main changes in the new agreement is an increase in the basic salary for all employees. The agreement also provides for a revision of the salary structure to better reflect the skills and qualifications of employees. This is aimed at ensuring that employees are paid fairly for their work and that there is no discrimination based on gender or other factors.
Another important change in the collective agreement is the increase in annual leave entitlements. All NUBE members are now entitled to an additional day of annual leave for every year of continuous service, up to a maximum of 30 days. This is a significant improvement on the previous entitlement of 20 days of annual leave per year.
The new collective agreement also provides for improved medical benefits, including higher reimbursement rates for medical treatment and medication. This will help to ensure that employees can access the medical care they need without incurring significant costs.
Other changes in the collective agreement include the introduction of a new scheme for long service awards, better job security, and improved union representation rights. These changes are designed to provide all NUBE members with greater job security and a better working environment.
Overall, the new collective agreement negotiated by NUBE in 2018 is a significant improvement for employees in the banking sector. It provides for better pay, benefits, and working conditions, as well as greater job security and representation rights. This is a positive development for all workers in Malaysia and demonstrates the important role that unions can play in protecting the rights of employees.