Zambia State Insurance Corporation (ZSIC) Life and the Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) have concluded negotiations for 2019/2020 full collective agreement where the employees have been awarded K5, 000 across the board.
This is in order to align them with the market and a further K1, 000 across the board which was a salary increment for 2019.
Speaking during the signing ceremony, ZSIC Life Managing Director Christabel Banda said the company was glad that a full collective agreement was concluded just after 4 sittings which indicates there is a sound relationship between the company and the union.
She emphasized that for as long as there was productivity the company was willing to award the employees a reasonable and commensurate increment.
She however challenged the employees to be more productive and bargain for much more next time.
She also alluded to importance of performance based ‘Based Pay’ for higher flies as opposed to the across the board increment.
And ZUFIAW General Secretary Mr. Chingati Msiska was equally glad that full a collective agreement was concluded in 4 sittings.
He stated that ZSIC has had a history of being a top performer and as well challenged the employees to make sure the company claimed its rightful position in the market.
He assured the MD that productivity was a paramount and that’s what gives the employees the bargaining power.

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