As a professional, it is important to understand the relevance of potential keywords and the topic being discussed. In this case, “finning union agreement” is the subject. An article on this topic could focus on the details of the agreement, the benefits it offers, and its significance for the parties involved.
Firstly, it is necessary to establish what “finning union agreement” means. Finning refers to the world`s largest dealer of Caterpillar heavy equipment, power systems, and engines. A union agreement, on the other hand, is a legally binding document between an employer and a union, outlining the terms and conditions of employment.
In 2018, Finning`s union agreement was successfully negotiated between the company and the International Association of Machinists and Aerospace Workers (IAMAW). The agreement outlined several key terms, including wage increases and job security measures. One of the critical components of the agreement was a provision that guaranteed job security for unionized employees.
Under the terms of the agreement, unionized employees were further protected from layoffs, with their jobs becoming a “protected class” within the company. This new provision ensures the company cannot target unionized employees when implementing layoffs, instead of relying on other measures such as reducing hours or engaging in attrition.
The finning union agreement also provided significant wage increases for unionized employees. Employees received an additional 2.5% increase in their 2019 pay, followed by a 2% raise in 2020. With the current economic climate, these increases are a significant win for employees and provide them with much-needed financial stability.
The union agreement also includes several other important provisions, such as a comprehensive safety and health program, increased vacation time, and improved retirement benefits. These measures ensure that employees are protected and valued by the company.
In conclusion, the finning union agreement provides significant benefits for employees and demonstrates the value of unionization in the workplace. It is a valuable template for companies and unions working together to negotiate a fair and just contract that benefits both employees and employers. By guaranteeing job security, wage increases, and improved working conditions, the finning union agreement is a win for everyone involved.