Both Sides of The Coin: The Story of The Central Bank of Barbados 1972-2017

161 Minister of Finance and the Board of Directors. The desire to maintain this differential meant that significant effort went into the salary negotiation process and it was the degree of success on that issue which determined the level of interest in the Association. One of the first goals which the Association set itself in 1975 was to get agreement on a set of salary scales for each category of employee, in lieu of the ad hoc system then in place. Its proposals were set out in a well- prepared document which contained tables, explanatory notes and an appendix and featured language that reflected the influence of the economists in the Association. The conduct of the first negotiations was characterised more by consensus than conflict. The management's counter-proposals were, for the overwhelming majority of salary scales, more advantageous than what the Association had requested and an agreement was reached quickly. However, the Association and management did not reach agreement on a salary package for 1977 and 1978 without some rancour. In 1981 the Association created a sub-committee on salaries, benefits and conditions of work; there was also some attempt to create a closed shop by suggesting that no negotiations should begin until all eligible staff members had joined the group. The 1981/82 salary negotiations brought to the fore for the first time the various factions in the Association, with a number of ancillary proposals being submitted to the Association’s executive by various interest groups. Lobbying for benefits The Association was instrumental in lobbying for a number of benefits for staff. It negotiated an extension of the period for mortgage repayment and an expansion of the medical scheme to include dental and optical benefits. In 1976, the staff group also reached a settlement with management on terms and conditions of employment and started negotiations on a pension scheme. Uniforms for staff were first secured during 1977 and a new group health and accident and major medical plan became operational two years later. Chapter 5: Some Notable Developments