After UCO bank, it’s Syndicate Bank who has informed that the order of their regional level offices for “No Work, No Pay” have been withdrawn. Sri M Rego, managing director and chief executive officer of the bank has informed in a statement that “The said notice was issued at the regional level without the powers of the official concerned to issue such a communication. It has been withdrawn on immediate effect.
Earlier this week, it was UCO Bank’s zonal office in Kolkata who had issued notices and hold the salaries to its employees in that zone for non-performance. Afterwards, decision was reversed after the top management stepped in, following pressure from unions last week.
Public sector bank justified the move on the ground of performances and said there was pressure to perform, especially for credit expansion, low-cost deposit mobilization and recoveries from bad loans.Interestingly, there is no corporate policy of “no work, no pay”.
“No Work, No pay” order was issued by one of the regional manager of Syndicate Bank in a communication to employees on August 30. Employees were informed through a circular that they were expected to do a full day’s work for a full day’s salary. If an employee does not report to work or does not work during any part of the working hours, that person will be in breach of his/her contract of service. Circular also stated that the employees will not earn salary for the day and consequently need not report to work for the rest of the working hours of that day.
Hence, the principle of “no work, no pay” takes effect automatically and employee will not earn salary for that day.
Banker’s union has protested against such move by the bank and threaten for agitation if such practices continues. All India Bank Employees Association has issued an official statement stating that “Unions will protest against such a move and take the issue up with the management.”
Stopping salary of an employee doesn’t do any good rather devastating for the bank itself as to leads to non-motivation. Non-performance can’t be accepted and necessary action should be taken against the employee within framework of guidelines.