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<ul><li> INE - OTOE Labour Institute OTOE Athens 2009 DialogoS+ DialogoS+ Evaluation of international experience on social dialogue in respect with changes ensuing the new economy in the banking sector and transfer of best practices to new member countries Funded by: EUROPEAN COMMISSION Employment, Social Affairs and Equal Opportunities DG, Adaptability, Social Dialogue and Social Rights, Social dialogue, Industrial relations, Adaptation to change BUDGET HEADING, VP/2007/001/894 1 ISBN 978-960-8428-02-7 </li> <li> uropean Project DialogoS+ Evaluation of international experience on social dialogue in respect with changes ensuing the new economy in the banking sector and transfer of best practices to new member countries ISBN 978-960-8428-02-7 thens 2009 INE - OTOE 9 Vissarionos, 106 72, thens 2 </li> <li> Index Introduction 5 1. Best Practices for Social Dialogue in the Banking Sector and New Challenges 7 Summary 8 National Best Practices and Challenges 10 Denmark 10 Spain 14 taly 18 Greece 24 Portugal 28 alta 31 Cyprus 36 ulgaria 39 Romania 42 Conclusion 45 2. Design, Implementation and Analysis of the Forecasting Exercise 47 Executive Summary 48 Introduction 49 Overall Aims of the DialogoS+ Project 49 Scope and Motivation of this Report 51 Banking Sector State-of-the-Art: the Crisis and the Challenges 52 Roadmapping: Definitions and DialogoS+ Methodology 54 Introduction to Roadmapping 54 Roadmapping Methodology for DialogoS+ 59 Roadmap Thematic Areas 63 Working Life in the Banking Sector 63 Foreign Ownership, Mergers and Acquisitions 64 Public Support and Industrial Actions 66 Union Density Rates 68 Collective Bargaining and Union Impact at Negotiation Levels 70 European Union Dialogue and Convergence 71 Concluding Remarks and Next Steps 73 References 74 3 </li> <li> uropean Project DialogoS+ DialogoS+ Project Partners Project Coordinator: INE - OTOE (Labour Institute OTOE) Partners: OTOE (Hellenic Federation of Bank Employee Unions) FABI (Independent Federation of Italian Bank Workers) - taly Federacion de Servicios de UGT (FeS-UGT) - Spain Sindicato Dos Bancarios do Centro Direccao - Portugal (Cyprus Union of Bank Employees) Malta Union of Bank Employees - alta FSAB (TUFIB) - Romania Trade Union of the Bank Employees and Workers in UBB - Bulgaria Finance Sector Union of Denmark - Denmark Vocational Training Centre DIASTASI - Greece SEV (Hellenic Federations of Enterprises) - Greece Brunel University - United Kingdom dited by: ristoteles Lakkas Panagiotis Panagiotopoulos oanna Theochari The views expressed and the information contained in this publication does not necessarily reflect the position or opinion of the European Commission, or the position or opinion of the national partners of the project. The views expressed are the authors views. 4 </li> <li> Introduction Introduction Social Dialogue is considered a driving force for economic and social reform, a key to better governance of the now enlarged European Union and a vital element of the European Social Model. This report examines the best practices of social dialogue in nine EU member states banking sector, aiming at developing a comparative perspective. It draws on extensive participatory training developed by the DialogoS+ project partners just before the eruption of the global financial crisis. These social dialogue experiences become more valuable under the new conditions of the ongoing financial crisis which also affect employment relations in the banking sectors. On behalf of INE/OTOE, we would like to thank all participant trade unions and their representatives for their active and productive way in shaping the development of the DialogoS+ project that helps to identify social dialogue best practices in the banking sectors at national level and highlight how they can help us in meeting the new challenges. Stavros oukos ristoteles Lakkas President OTOE Managing Director - President INE - OTOE 5 </li> <li> uropean Project DialogoS+ 6 </li> <li> 1. Best Practices for Social Dialogue in the Banking Sector and New Challenges Dr Christos . oannou Report for INE - OTOE prepared for the project DialogoS+ 7 </li> <li> uropean Project DialogoS+ Summary By analysing recent developments in national banking sector systems from a comparative perspective with regard to social dialogue practices we have drawn interesting conclusions concerning the different degrees and the different stages of social dialogue in regulating banking sector employment relations in nine EU member states. This analysis and the comparison of different national systems of employment regulation in banking sectors, are based on contributions provided by the Federazione Autonoma Bancari Italiani (FABI), Federacion de Servicios de UGT (FeS-UGT) Spain, Sindicato Dos Bancarios do Centro, (SBC) Portugal, Cyprus Union of Bank Employees (ETYK), Malta Union of Bank Employees ( MUBE ), Trade Union of the Bank Employees and Workers in UBB AD, Bulgaria, Federatia Sindicatelor din Asigurari si Banci, Romnia Finansforbundet, Finance Sector Union, Denmark, Greek Federation of Bank Employee Unions ( OTOE), lead us to classify them, for analytical reasons, in four groups. The first group of Best Practices refers to three old member states namely Denmark, Spain, and Italy. Their common characteristic is the relatively strong role of collective bargaining in shaping effective social dialogue in the banking sector. In Spain we consider as best practice the regulation of M&amp;As implications through collective agreements that produced results embodied in the case of early retirement law for bank employees made redundant in the banking sector restructuring process. In Italy we consider as best practice the regulation of banking restructuring implications through collective agreements that were regulated through the innovative and collectively agreed and operated income support fund. In Denmark we consider as best practice the joint regulation of banks and insurance sectors and the strong influence of social dialogue in shaping the flexicurity solutions in the banking sector. The second group of national experiences refers to social dialogue challenges rather than to Best Practices, in the sense that the pre-existing pathway of developing social dialogue is challenged. These challenges emerged in the case of two old member states, namely Portugal and Greece, were their common theme is the emerging challenge to sectoral collective bargaining as a mean for effective social dialogue. 8 </li> <li> The third group of national experiences refers to best practices of social dialogue that emerged in two new member states, namely Cyprus and Malta, where the influence of the national unions acting in the banking sector enhanced social dialogue as a means for regulating employment relations and more specifically in dealing with new comers in the sector (through Mergers &amp; Acquisitions) by maintaining union membership and effective role for social dialogue. The fourth group of national experiences refers to challenges faced by developing national unions in two new member states, namely Bulgaria and Romania, were their common theme refers to the challenge of building social dialogue capacity through increasing membership and establishing sectoral collective agreements. 9 </li> <li> uropean Project DialogoS+ National Best Practices and Challenges Denmark The key topic for Denmark is the strong role of collective bargaining. Therefore it appears a common theme between Spain, Italy and Denmark with regard to the strong role of collective bargaining 1. Major changes in the Banking Sector Employment Relations. Employment dropped slightly from 2002 to 2004. Since 2004 there has been a rather significant rise until 2007. No statistical data are yet available for 2008. Banks and Mortgage credit Insurance Total savings banks institutions companies 2002 41.613 4.174 16.972 62.759 2003 40.950 4.268 16.780 61.998 2004 40.833 4.040 16.713 61.585 2005 41.364 4.081 17.709 63.154 2006 43.270 4.151 18.155 65.575 2007 44.284 4.088 18.617 66.989 Looking at the above mentioned factors, most of the M &amp; A activities have been between fairly small financial institutions with rather low impact on employment level. The development of e.g. technology has not been characterised by sudden shocks. Looking at the cross border level, Nordea Bank has changed its structure at the Nordic level and Danske Bank has acquired foreign banks, most notably Northern Irish. The chart below shows the unemployment rate for the members of Finansforbundet. As explained above, during the period in question this also illustrates a slight rise and a significant drop in unemployment. This also shows that since 1992 unemployment in the sector has not been lower than in 2008. 10 </li> <li> Best Practices for Social Dialogue in the Banking Sector and New Challenges Kilde: FTF-A (02/04-2008) (Explanation: Kvinder = Women, Mnd = Men, I alt = Total). As far as prospects for the future are concerned, however, it was generally assumed, before the coming of the financial crisis that the economy in the sector will slow somewhat down in the coming years. Even though the international subprime crisis has not hit the Danish financial sector as hard as the case is in many other countries, the financial turmoil has taken its toll. At the end of the day, this could lead to a rise in unemployment. 2. Ways of Regulation of the Banking Sector Changes. All in all, a majority of the Danish banking sector structure is regulated through collective agreements, which are being adjusted from time to time in connection with the collective bargaining process. There has been regulation through a combination of measures, including bargaining, information and consultation. Some of the EU legislation has been implemented through general legislation and some more specific sectoral issues through agreements. 11 </li> <li> uropean Project DialogoS+ 3. The Importance of Collective Bargaining. Social dialogue is primarily evolving through collective bargaining agreements. These are rather detailed and give a solid foundation for thorough debating between employer and employee representatives. Legislation has been used to a smaller extent, but this is mainly in the area of working environment where the rules on dialogue between employer and employees are laid down in the Working Environment Act. Also, the rules on employee representation on the boards of companies are contained in the Act on Public Limited Companies. 4. The Role and Influence of Sectoral Trade Unions. The role and influence of Sectoral Trade Unions is strong. The work councils play a central part and also the employee re...</li></ul>