The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has emphasized that unrealistic targets set by employers remain a significant challenge for workers in the financial sector. The union noted that the pressure to meet these targets adversely affects employee performance and often results in job losses.
Union's Engagement with Institutions
Acting President of ASSBIFI, Nike Joseph, stated during an interview that the association is actively engaging with financial institutions to address this issue. She explained that ASSBIFI is also supporting its members to improve their skills and meet expectations, striking a balance between protecting jobs and encouraging performance.
Impact of Banks' Recapitalisation
Regarding the recapitalisation of banks, Joseph noted that the move has strengthened financial institutions, improved stability across the sector, and boosted market confidence. Although no cases have been directly linked to recapitalisation so far, the union is closely monitoring developments in the industry.
Contract Staffing and Unionisation
On the topic of contract staffing, Joseph mentioned that it originates from the Labour Act's provision for volunteerism. However, ASSBIFI is collaborating with the National Union of Banks, Insurance and Financial Institution Employees (NUBIFIE) to ensure that contract workers can be unionised. She stressed that contract employees deserve a voice and a career path, with eventual integration into the workforce. The union has taken this matter to the Ministry of Labour for resolution.
