Labor and Employment Secretary Rosalinda Dimapilis-Baldoz hailed the four new agreements signed by the Banking Industry Tripartite Council (BITC) as another concrete step towards strengthening the competitiveness of the local banking industry and sustaining the country’s industrial peace.
Secretary Baldoz, together with Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. led the signing of BITC resolutions at the BSP Complex in Manila recently.
The four resolutions signed were Reconstitution of the Sector Representation of the BIT; Affirmation of Commitment of the BITC Members; Guidelines on the Conciliation-Mediation of Labor Disputes in the Banking Industry; and Resolution on the Committee of Five to Render Conciliation-Mediation Services.
“The resolutions we have signed seek to strengthen the tripartite council, which serves as a communication channel and a mechanism for undertaking joint programs among government, workers and employers toward enhancing labor-management relations in the banking sector,” said Secretary Baldoz.
The signing of the agreements, Baldoz emphasized, defines the significant role of tripartism and social dialogue as effective institutions in ensuring the stability and competitiveness of the industry.
The new BITC Resolutions were signed Secretary Baldoz and Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr., together with the National Union of Bank Employees President Jose P. Umali; Federation of Free Workers and Associated Labor Unions represented by Atty. Jose Sonny G. Matula; Bankers Association of the Philippines President Lorenzo V. Tan; Chamber of Thrift Banks President Rommel S. Latinazo; and the Rural Bankers Association of the Philippines President Jose Misael B. Moraleda..
The DOLE Secretary added that the innovation established by the BITC is a step towards continuing industry transformation as the country faces ASEAN 2015, with financial integration as one of the components of the regional economic development.
“We can look forward with clear vision of a well-integrated and smoothly functioning regional financial system that will add more resiliency in the industry translated in terms of more quality employment and decent jobs for our people, and more equitable sharing of potential benefits and gains from ASEAN 2015,” said Baldoz.
She also commended the agreement as it further reinforces industry self-regulation and least government intervention in labor management relations.
“It is also about sustainable industrial peace because it is underpinned by speedy, fair, inexpensive, accessible and inclusive labor justice. It affirms respect for the participation of workers and employers in policy and decision making processes, Baldoz added.
She challenged the Council to continue nurturing the institutions by fostering transparency, mutual trust, respect, and faith to prevail over the tasks facing the industry, specifically on economic restructuring and integration.
The BITC, co-chaired by the BSP and DOLE, gathers representatives from labor unions, bank management and the government as the forum for nurturing harmonious labor-management relations and tripartite cooperation in the banking industry.
It can be recalled that the BITC signed its landmark resolution in December 2011 which established a formal process for mediation and conciliation and the handling of the outsourcing of banking functions.
The labor chief also recognized one of the key outputs of the BITC in 2011 which is the development and issuance of Banking Industry Voluntary Code of Good Practice on Dispute Settlement and Outsourcing/Subcontracting of Certain Bank Functions. The code provides systems and procedures on dispute settlement and outsourcing/subcontracting of certain bank functions.
“In sum, the BITC’s growth affirms the positive response of various labor-management councils across industries to Republic Act No. 10395 which institutionalized the establishment of tripartite councils not only in the national level, but also in the regional and industry level, as consultative and advisory bodies on labor, employment and related social issue,” Baldoz concluded.