Impacts of Trade Unions

 

As per Augustyn et al.,(2020), the trade unions also known as labor unions is an association of employees in an organization, trade or industry formed in order to secure the salary/wages increments, working conditions etc through collective bargaining.

Under the Trade Union Ordinance of 1935, a “trade union” is defined as any association or combination of workmen or employers, whether temporary or permanent, having among its objects one or more of the following objects:-

  • the regulation of relations between workers and employers, or between workers and workers or between employers and employers; or
  • the imposing of restrictive conditions on the conduct of any trade or business; or
  • the representation of either workers or employers in trade disputes; or
  • the promotion or organization or financing of strikes or lock-outs in any trade or industry or the provision of pay or other benefits for its members during a strike or lock-out, and includes any federation of two or more trade unions;
As per Pettinger (2019), following are the Advantages & Disadvantages of the Trade Unions

In our sri lankan banking sector, we mostly see trade unions are operating in front line banks such as high-end private banks & all the government banks. It is observed in most of the new private banks where trade unions are not in operation.

In my opinion, there are some controversial issues which arises mainly in terms of salary & benefits increments which are being sorted more effectively with the intervention on the trade unions. The banks which are not having any trade unions purely do this at the sole discretion of the management which is much favorable at the employer’s end and may be not that much attractive & effective in the employee’s end.

Bank trade unions plays a vital role in negotiating the employee benefits & as a result, the profession of “Banker” has become one of the highly paid jobs in the country. It assures the job security of the respective employees and the motivation to achieve the institutional goals ultimately.

So far as bankers, we have not experienced any Strikes, Confrontations or loss of employments took place as a result of bank trade union activities in sri lanka.

All in all Bank trade unions have massively impacted to build the image of the “Banker” and the related benefits of the profession. They ensure the institutional goal to be achieved & also the employee rights to be fulfilled subsequently.      


Reference List

Thejvan Pattinger (2019), Advantages & Disadvantages of Trade Unions,

Available at: https://econ.economicshelp.org/2007/04/advantages-and-disadvantages-of-trades.html [Accessed on 12th December 2020 at 11.59 p.m.]

 

Augustyn et al., (2019), Trade Union, Available at: https://www.britannica.com/topic/trade-union

[Accessed on 12th December 2020 at 11.30 p.m.]

 

Salary.lk, Trade Unions (Sri Lanka), Available at: https://salary.lk/labour-law/trade-union/trade-unions-1 [Accessed on 12th December 2020 at 11.45 p.m.]




Comments

  1. Lakshan GanegodaDecember 12, 2020 at 2:02 PM

    In my personal opinion, there should not be unions to protect the employee if the company itself is more focused on protecting and looking after them and get their involvement in organizational decision making and make them a bigger part of it.

    ReplyDelete
  2. M. R. M NishakDecember 12, 2020 at 9:19 PM

    Trade union is playing a vital role in an Organization, this is a bridge between employee & employer. an organization of workers who have come together to achieve many common goals

    ReplyDelete
  3. NafeesDecember 13, 2020 at 7:48 AM

    A Good HRM system will be an alternative for trade unions. Trade unions became a failure because they got involved in politics

    ReplyDelete

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