The Nube Collective Agreement 2018: What You Need to Know
The Nube Collective Agreement 2018 is a vital agreement that affects the working conditions and compensation of over 18,000 employees in Malaysia. Nube, which stands for National Union of Bank Employees, is a union that represents employees in the banking industry in Malaysia.
The new agreement is a result of long negotiations between Nube and the banking industry. It covers employment terms such as working hours, overtime pay, annual leave, and public holidays. The agreement also addresses job security, promotion, and training opportunities for employees.
One of the most notable changes in the new agreement is the increase in annual leave. Employees who have worked for more than 2 years are now entitled to 26 days of annual leave, up from the previous 21 days. There is also a new provision for paternity leave, which grants fathers up to 14 days of leave.
Another important aspect of the agreement is the increase in wages. The collective agreement provides for a 6.5% increase in basic wages and a 1% increase in the cost of living allowance. Additionally, employees who have worked for more than 5 years will receive an additional 1% increase in basic wages.
The agreement also includes provisions for job security and promotion opportunities. The new agreement requires banks to inform employees of any potential retrenchment and provide a minimum notice period of 2 months. Banks are also required to offer alternative employment before retrenchment is considered.
The Nube Collective Agreement 2018 also includes provisions for training opportunities. Banks are required to provide training and development opportunities to employees to enhance their skills and career prospects. The agreement also provides for a 0.5% contribution from banks towards a training fund to be used for the training and development of employees.
In conclusion, the Nube Collective Agreement 2018 is a significant step towards improving the working conditions and compensation of bank employees in Malaysia. The agreement addresses important issues such as annual leave, wages, job security, and training opportunities. It is a result of successful negotiations between Nube and the banking industry and is a testament to the power of collective bargaining.