Banks DIH, Union sign deal for 25% wage increase, enhanced worker benefits

Taking strides to enhance the benefits for its employees, Banks DIH Limited employees will receive a 25 per cent salary increase and enhanced benefits over three years.
This information was revealed by Finance Director of Banks DIH Limited, Deonarain Seepaul during a recent signing of a Memorandum of Understanding (MoU) by Banks DIH Limited and the General Workers’ Union (GWU) at the Labour Ministry in Georgetown.
According to Seepaul the agreement is a significant milestone and underscored the company’s commitment to job security, medical benefits, life insurance, and retirement benefits.
Additionally, he highlighted that the negotiations were concluded swiftly, resulting in a 25 per cent wage increase and enhanced benefits over three years.
He also took the opportunity to emphasise the importance of sustainability for shareholders, employees, suppliers, and customers
Also chiming in similar views at the signing activity was, Norris Witter GWU President.

Whilst giving remarks he emphasised the smooth and non- adversarial nature of the negotiations, which were completed in five days over 30 working hours.
Additionally, he praised the positive relationship between the union and the company, highlighting the mutual reliance and recognition of employee importance.
Meanwhile, Chief Labour Officer, Dhaneshwar Deonarine commended the negotiations as a model for other companies, praising the willingness of both parties to engage constructively.
Attendees at the signing of the MoU on Friday were Pancham Singh (General Secretary), Quincy Bailey (Branch Chairman), Lawrence Drakes (Branch Secretary), Colin Miller (Field Officer), Dennis Glasgow (Branch Committee Member), and Nunyam Haynes (Shop Steward). Banks DIH Limited was represented by its Finance Director, Seepaul and Kavorn Kyte-Williams (HR Chief Executive/General Counsel).