By Mark DaCosta- In a major victory for employees of Banks DIH Limited, the local conglomerate has struck a deal with the General Workers’ Union (GWU) that will see substantial salary increases for its workforce. The agreement, finalised at the Ministry of Labour in Georgetown, provides for an 11 percent salary increase in 2024, with a total wage hike of 25 percent spread over the next three years. The signing took place in the presence of Chief Labour Officer (CLO) Dhaneshwar Deonarine. This agreement also upholds unionised workers’ constitutionally protected right to collective bargaining.
According to Norris Witter, President of the GWU, around 1,600 employees of Banks DIH are set to benefit from the salary adjustments. Witter described the negotiations as a smooth and cooperative process, emphasising that the parties involved avoided conflict. Remarkably, the discussions were concluded within five days, totalling 30 working hours, a testament to the shared commitment to resolving matters swiftly.
In a statement issued by Banks DIH, Finance Director Deonarain Seepaul hailed the agreement as a significant milestone for the company. He noted that, beyond the 25 percent wage increase, the company remains dedicated to ensuring job security and providing critical benefits such as medical coverage, life insurance, and retirement benefits.
The collaborative nature of the negotiations marks a positive shift in labour relations in the private sector, where workers’ welfare is increasingly being prioritised. Banks DIH’s commitment to enhancing workers’ pay and benefits stands as a shining example of how companies should engage with unions for the mutual benefit of both management and employees.
This is not the first time in recent months that the private sector has taken decisive steps towards improving conditions for its workers. In May of this year, SOL Guyana Incorporated reached a similar landmark agreement with the GWU. The agreement, signed in the presence of Senior Labour Officer Michelle Baburam, secured wage increases and improved benefits for employees over a two-year period.
As part of the deal, SOL Guyana employees will receive a 10 percent increase in wages in 2024, followed by a further 5 percent increase in 2025. These adjustments will raise the minimum wage at the company to GYD 160,000 per month by 2024. Additionally, meal allowances for staff have been updated, with breakfast, lunch, and dinner allocations increased. The negotiations between SOL Guyana and the GWU were lauded for their professionalism and mutual respect, with both parties expressing satisfaction with the outcomes.
SOL Guyana’s General Manager, Earl Carribon, stressed that the company does not differentiate between unionised and non-unionised staff, aiming to provide equal benefits and working conditions to all employees. Norris Witter praised the company’s management for demonstrating maturity and respect throughout the negotiation process. The success of these negotiations serves as a model for how employers should engage with their workforce.
While companies like Banks DIH and SOL Guyana are setting new standards in employee relations, the same cannot be said for the People’s Progressive Party (PPP) government, particularly in its dealings with public servants. The contrast between the private sector’s approach and the government’s treatment of public employees, especially in light of the ongoing teachers’ strike, is stark.
Public servants, including educators, have been calling for fair wages, collective bargaining rights, and better working conditions. However, despite widespread public support, the government has remained largely silent, leaving many workers feeling undervalued and ignored.
Unlike the private sector, where companies have engaged in respectful and cooperative negotiations, the government’s approach appears dismissive, further exacerbating tensions between public servants and the administration. The PPP would do well to observe how businesses like SOL Guyana and Banks DIH handle labour relations, showing respect and commitment to their employees. If the government adopted a similar approach, it could not only improve the morale of public workers but also foster a more harmonious and productive public sector, which is crucial for the development of our nation.
