Zambia National Building Society

The Zambia National Building Society has awarded its unionised employees a Salary increment of K1,000 on monthly basic salary across the board for the financial year 2018-2019. Making this announcement during the signing ceremony of a collective agreement between ZNBS and Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) at ZNBS head office in Lusaka today, the Society's Managing Director, Mr. Joseph Chikolwa said management is committed to improving the working conditions of employees and cushion employees on the rising cost of living. "We are committed to improving the working conditions of our employees and cushion employees on the rising cost of living. I am pleased to mention that the salary increment of ZMW1,000.00 on the monthly basic salary has been awarded to all unionised employees." Mr. Chikolwa also said the institution has since implemented a robust performance management system that will see employees being awarded based on performance. "Management has implemented a robust performance management system which is intended to increase performance and reward hard working employees. In this regard am urging the team in here to steer the agenda of performance based reward in an effort to improve the performance of the institution, improve employees' performance in terms of productivity per employee and build a performance, and good corporate culture. This ladies and gentlemen will help the society remain competitive in the housing finance sector and make the society an employer of choice." And speaking during the same event, ZUFIAW General Secretary Chingati Msiska has applauded the management of ZNBS for agreeing to award its employees with a ZMW1,000 salary increment across the board. "we are very excited that despite the protracted negotiations, management and the union were able to agree and settled for something that is sustainable. It is true that unions can demand certain amounts but management has a duty to advance a reasonable offer in the interest of both the employees and the institution". The ZUFIAW General Secretary has also called on all employees to desist from any form of dishonest and fraudulent activities as this has the potential to tarnish the reputation of both the institution and the employee. "It is always disappointing to hear cases of fraud involving our members and I want to encourage management to inform us as we are interested stakeholders in such cases." The salary increment awarded to unionised employees is effective 1st April, 2018.