As part of the ongoing salary negotiation process, Republic Bank (Grenada) Limited has offered the Bank and General Workers Union by letter dated 14 July 2023, a revised, without prejudice settlement offer of 9.25% for the period 1 January 2020 to 31 December 2023.
This Offer, when compounded with the Bank’s pay for performance merit arrangements takes the pay-out to members of the bargaining unit on average to 16.23%, well over the 12.25% that the Minister had tabled.
The Bank continues to negotiate with the Union to find a resolution that is fair to all parties and has in good faith, revisited its 6.25% offer twice since the commencement of strike action by some members of staff on 29 June 2023. Based on current market data, the initial offer was aligned to comparative salary increases in the financial services sector for the corresponding period.
The Bank remains committed to an amicable solution to these negotiations in the interest of all of its employees and customers.
We will update our customers and the general public as more information becomes available, via our website, www.republicgrenada.com.
Republic Bank (Grenada) Limited
This bank has to take a step back and address the reason for such request from their workers because the profit they made last year is a collective effort from all within the establishment
Under paying bank workers is a recipe for disaster, remember these persons have information and access to customers hard earned money if you don’t pay them well they might be tempted and yield thus spoiling the reputation of your institution and driving customers away. Pay them workers adequately even pay them for the days they striked cause you refused to settle. Don’t make customers join the fight by withdrawing large sums of money and taking their business elsewhere.
Republic Bank STOP creating more propaganda to your institution’s name. You are fully aware that more than 80% of your staff DO NOT earn ANY Merit Increase as You have Strategically made your assessment Difficult for staff to earn an outstanding or exceptional performance report. Hence stating that your revised offer of 9.25% when compounded with Merit qualifies for a 16.23% bargain well over the Labour’ Commissioner’s recommendation CANNOT be regarded. You keep finding ways to continue “underpaying” your staff while you continue to make profit year on year…biggest commercial bank in Grenada yet your employees’ salaries are lesser than the other commercial banks. STOP MAKING EXCUSES AND PAY UP!! #DOBETTER
Give the workers their money . They deserve it. They work hard for you day in day out. They deserve good treatment and a good salary. We, your customers need quality service. Time to stop making excuses and let the workers return to work in peace. They should not have to beg for what they deserved. Without us your customers and your dedicated workers you would not be making profits to boast about..
Republic Bank scribes need to stop spreading lies to the public. Merit and salaries are two distinct things and cannot be married. In addition, not everyone receive merit as it is performance based. The union is negotiating for all staff, not some: so adding what most staff do not receive to the minute percentage you are willing to pay as an economic increase to come up with a fake percentage is not fooling anybody. It is not looking good so be honest with the general public and start publishing facts and not fiction.
The merit increase system only applies to a small faction of staff and it does not lead to an increase in salaries because the few that receive it gets a one off payment. The workers are fighting for economic increase and buying power. Republic Bank needs to stop trying to tarnish the image of their employees and in turn their own reputation.