[Source: Supplied]

The BSP Financial Group Ltd Fiji Branch has announced the signing of its first-ever collective agreement.

The Collective Agreement 2024, which was vetted and negotiated by all parties, encompasses allowances, leave benefits, and other notable advantages that are focused on balancing the interests of both the bank and its employees.

BSP Country Head Haroon Ali says the agreement covers over 70 percent of the employee headcount, and they have committed to updating policies so all employees enjoy the same benefits and job security.

Ali adds that they are confident that it will boost employee morale and increase productivity.

Ali welcomed the agreement after robust negotiations with the Fiji Bank Finance Sector and Employees Union (FBFSEU) describing it as a demonstration of the banks’ dedication to providing a harmonious and productive working environment.

BSP has been without a collective agreement for more than 12 years due to banks being classified under the Essential Services and Industries Decree.

However, throughout this period, BSP has maintained dialogue with the union in line with its corporate commitment to staff welfare.