They mentioned imposition of the KPI is severely affecting the well being of the trade, the staff, brokers, surveyors and the shoppers
They mentioned imposition of the KPI is severely affecting the well being of the trade, the staff, brokers, surveyors and the shoppers
Ten Central Trade Unions (CTUs) within the Opposition camp have urged the Centre to maintain the “unilateral imposition” of Key Performance Indicators (KPI) for General Insurance Companies (GIC) in abeyance. The CTUs mentioned in a letter to Union Finance Minister Nirmala Sitharaman that the Department of Financial Services and General Insurers Public Sector Association (GIPSA) administration have began implementing the KPI course of with out the approval of the boards of the insurance coverage corporations. “This is illegal and unconstitutional,” the CTUs mentioned within the letter.
They mentioned imposition of the KPI is severely affecting the well being of the trade, the staff, brokers, surveyors and the shoppers, residents as a whole lot of workplaces are proposed to be closed or merged within the identify of KPI and restructuring. “Besides, the employees are restive that their long term settlement is already delayed by 64 months. They have been promised a raise on par with LIC (15%), but it has not seen the light of the day so far,” the CTUs mentioned.
They mentioned the “bell curve based performance appraisal” has already been understood as a failure and discarded by main organisations globally together with many huge multinational corporations. “This is being done on the suggestions of external consultants who barely understand the intricacies involved and problems that may arise if such a system is implemented without detailed understanding, planning and a road map,” the CTUs mentioned within the letter.
The CTUs mentioned they absolutely concur with the stand of sectoral commerce unions that last report of the consultants on KPI needs to be mentioned with all stakeholders earlier than implementing it and KPI have to be stored in abeyance until then. “Government seems hell-bent on completing certain tasks related to weakening and thereby damaging the public sector to finally facilitate privatisation well before 2024,” the CTUs mentioned in an announcement.
Source: www.thehindu.com
