Business News of 2014-06-20

FWSC to organize national forum on productivity

The Fair Wages and Salaries Commission (FWSC) will soon organize a National Forum on Productivity as part of programmes to link public service salaries to work and productivity.
Already, a roundtable meeting has been held to put finishing touches to preparations for the Forum, the Finance Minister has disclosed.
Seth Terkper told Members of Parliament on Thursday that the Forum is “expected to provide the needed consensus on the concept of production and provide a road-map for an eventual rollout of the Public Service-Wide Performance Management, Monitoring and Evaluation System that would link public service pay to work and productivity.”
The Commission will organize the Forum in collaboration with key stakeholders including the Ministry of Finance, Ministry of Employment and Labour Relations, the Public Service Commission and the Office of the Head of Civil Service.
All these are part of measures to ensure sustainability of the Single Spine Pay Policy (SSPP) introduced in 2010.
After the Forum, a system will be introduced to link salaries to productivity, the Finance Minister disclosed.
“Once the system is finally rolled out, annual salary increments for public service employees shall no longer be automatic but based on annual performance assessment,” Mr Terkper announced.