Bonus or Increment?
By Path Editor in Editor's Pick | 12 comments
I went to the bank this afternoon, and I saw something interesting, check this out.
I thought it was somebody doing some funny promotion right beside the bank, or maybe, maybe the bank has done some funny stuff to the customers? Quickly I went to withdraw my money and it was one moment, one moment I was thinking to close my account, although I don’t have much money left there.
You see, it is not usual for us to see this in Malaysia, and I can’t help to go back to the office and grabbed the camera. Can you imagine how happy when they saw me snapping around? Look at the picture.
(they were cheering!)
And I got them talking about what was happening, and here comes this post. The employees of the bank was picketing because the bank gave them 30% increment of salary but at the same time taking away their contractual bonus that is as high as 3 months salary.
(the black badge: Bank ROBBED our bonus)
Are you thinking what I was thinking? And don’t worry I asked on behalf of you already, the answer is simple, it is because they think they deserve the 30% increment at the same time securing the bonus.
According to an officer there (the one with mustache, check it out), unlike other industries in Malaysia, banking industry doesn’t give annual increment, and they must have been waiting for quite a while for their increment. Hence, bottom line, this increment given is out of their Bonus.
(since they work this hard, why not just give them both?)
The dilemma is: do you want increment or bonus? I mean, when you have to choose. You see the point, normally you don’t have to.
(Translation: MAYBANK CRUEL, PARASIT)
What is interesting here is, this picketing has already been happening for more than a month, and they are still doing it, and I believe there’s sure something not right with the package offered. Praveen Rajan posted this a month ago, and read the first comment. In fact I was not aware of this in the Malaysian blogsphere, when I did research using Google Blog Search, not much posts have been shown.
Can anyone tell me who are these Three Musketeers?
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eileen | Dec 3, 2007 | Reply
It’ll be interesting when you’re there to witness the picket. Heard that they have to do the picketing within an hour as permission given by the police authority.
And also, roughly around 34 employees has been suspended due to the picketing. Makes me wonder how the HR going to deal with this issue since it’s been a month due…. guess, they are in the middle of negotiation with the Union.
Anyway, personally, for me, raise and bonus should be based on employee’s performance. If they can perform well and with the company making amount of profits, why not???? That’s how you get your employees to work hard for you and they should be paid accordingly.
And to be fair to the employer as well, maybe they can start asking whether they have contributed to the company and deserve the bonus and the increment.
Well, bottom line, we’re not too sure of the real case scenario to comment… maybe somebody from Maybank can share some insights….?
SH | Dec 4, 2007 | Reply
Wow… my first reaction when I read this message from My1stpath blog. Maybank is faced with such challenges. How can this be? They claimed “Maybank Kejam”, “Rompak Bonus Kami”, etc the first thing comes to my mind is “What happen to the HR and Management?” How can they allow this to happen to their staff? From a recruiter standpoint, definitely it will affect the “Employer of Choice” status. Whether Maybank is in the wrong or right, public perception is not going to be positive. Furthermore, the one on picket are mostly their senior employees. Of course, we do not know the real story and we are not able to comment further whether Maybank had made a wrong decision.
As an Employer in general, increment and bonus will be compensated if performance of individual and organization has been achieved. I remembered back in 80s when I was working with a local company, there is no such system as pay per performance, bonus and increment are given according to their position level, seniority and work performance evaluated by their supervisor. Of course, business has becoming more challenging and demanding therefore performance is evaluated constantly and expectation from employer has changed. Nevertheless, employer must always remember that “Success of every organization comes from the workers behind the scene doing all the necessary support to make the organization reach its goal, no matter how big and small is their role, they have played their role”.
I believed the mgmt is talking to the union now to look into a good solution for all. All the best “Maybank” and hopeful a fruitful outcome will be achieved.
CK | Dec 4, 2007 | Reply
What happen? Would like to know the truth to what Maybank has done to their employee.
Any maybank employee care to share?
Ling | Dec 4, 2007 | Reply
Who is IR Looi? It seems he is the culprit!
Fion | Dec 4, 2007 | Reply
To share with you my experiences & opinions….
I worked in foreign bank as HR Personnel for sometimes…
I believe those who’re picketing they’re Officer Level & they’re Union member (just a bit of information…). .As per the NUBE agreement, they eligible for the 2 months contractual bonus & this not base on employee’s performance., by all mean, they will have their bonus paid out accordingly in regardless whether the staff performed or otherwise. However, they still entitle for their annual increment, but it is very minimum amount (approx. RM15-25), because the amounts determine according to their qualification + current salary & accordance to what’s the next level of increment (not more not less…). So, they’re not really looking forward to the increment compare to the 2 months contractual bonus. If you are in their position, which will you choose?
It’s really hectic for HR & this need to further discuss / negotiate with the Union officer. This will take months for the negotiation part! Until then, this picketing will continue & perhaps you will see them again after couple of weeks later.
Path Editor | Dec 5, 2007 | Reply
Thanks for commenting, guys.
Eileen >> I heard they had a big one in KL last month, I have not been reading newspaper for quite some time, but I shall assume the coverage is not wide in mainstream media.
SH >> Good to have sharing from employer’s perspective, in fact this is the main debate here, I mean I do believe that performance should be the measurement for increment and bonus…
CK >> We are waiting, maybe you can get inform their cashier when you visit their branch later?
Ling >> Haha you seem excited.
Fion >> Welcome! But are you serious about the amount of raise per year? This is little! No wonder they are so obsessed about the bonus, now I got it…
SH | Dec 7, 2007 | Reply
Fion - Thanks for the insight. If I were them, I will take the 2 months bonus. I did not realize the bank increment is so low. Really an eye opener.
Noorizam Shah | Dec 12, 2007 | Reply
menarik post ini.. kat bank-bank lain memang ada pasang lencana boikot maybank nih
iCalvyn | Jan 27, 2008 | Reply
I like the boycott maybank button badge…haha, i am button badge collector
wt | Feb 21, 2008 | Reply
i remembered seeing the strikes and them lining up in front of menara maybank. i heard from some of my maybank friends that they were unhappy over the original (2months?) bonus given to them and the standard increments. however, the BIGGEST shocker for me was, their demand of more bonus WITHOUT a performance appraisal.
it was offered to them, to be given bonuses and increments based on their performance and from what i heard, it could go up very high if their performance was good. a case not wanting to be evaluated based on performance because they were not performing?
think about it: how was the level of service based on your last visit to maybank?
if i have nothing to fear and i know that i have a good performance, i would request to be evaluated!
Path Editor | Feb 21, 2008 | Reply
thanks wt for the comment, although it is kinda old post already, but you’ve just got some points right.
i believe the evaluation among employees is important for all the companies for better growth, and no doubt, this does look a little bit as they did not want to be evaluated…
anyway, everyone has their own choice of belief, but i do back your points.
and thanks for commenting.