Et news5

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Et news5

  1. 1.
  2. 2. NehaSahi<br />
  3. 3. <ul><li>Government has directed Public Sector companies to take their employees’ union into confidence before initializing disinvestment process to avoid any delays.
  4. 4. Administrative ministries have to arrange for employee awareness programmes to spell out benefits of listing and enhance employee participation.</li></li></ul><li><ul><li>Coal India has already set the trend through special efforts to encourage employee participation on its upcoming public offer by
  5. 5. Facilitating opening of depository accounts
  6. 6. Getting permission to offer shares to those employed in its subsidiaries.
  7. 7. Employees unions in BSNL and NALCO had protested the government move to list these companies.</li></li></ul><li><ul><li>Centre will push for laws to bring more than 130 million contract labour in the country an o par with permanent employees in terms of
  8. 8. Wages
  9. 9. Benefits: provident fund, ESI, holidays, hours of work etc.
  10. 10. But not security of tenure.
  11. 11. The worker groups sought complete abolition of contract labour but employers did not want to give any privileges to them. </li></li></ul><li><ul><li>The proposed law will require employers to clearly indicate in the work contract:
  12. 12. Wages
  13. 13. Contributions towards social security schemes
  14. 14. Other benefits
  15. 15. Most states are in favour of improved terms for contarctlabour.</li></li></ul><li><ul><li>23,000 staff introduced to provisions to
  16. 16. Terminate employment for non-performers.
  17. 17. Tie promotions to output.
  18. 18. Cash portion of emoluments would rise and stock options fall to avoid displeasure at the time of sinking markets and changing preference of younger staff.</li></li></ul><li><ul><li>Non-performers will first be given:
  19. 19. Coaching programme.
  20. 20. Change in job profile.
  21. 21. Bank plans to hire 1000 more staff.
  22. 22. Bank’s HR policies are changing after recommendations from:
  23. 23. Cerebrus Consultants.
  24. 24. Hewitt Associates.</li></li></ul><li>Contd..<br /><ul><li>Promotions would also become tough in bank with three-year performance becoming the benchmark.
  25. 25. In promotions insiders would get preference over outsiders.</li></li></ul><li>

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