Citation
(2012), "Give and get", International Journal of Productivity and Performance Management, Vol. 61 No. 1. https://doi.org/10.1108/ijppm.2012.07961aaa.006
Publisher
:Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited
Give and get
Article Type: News From: International Journal of Productivity and Performance Management, Volume 61, Issue 1
A recent strike in the South African gold sector ended with a two-year wage settlement that is well above current inflation levels. However, importantly it included for the first time a mechanism that should allow companies to claw back some of those increases in the form of improved operating efficiencies.
The four companies involved settled on wage rises of between 7.5 percent and 10 percent.
The parties also finalised a framework agreement in terms of which they will meet within 30 days to co-design arrangements aimed at the effective utilisation of mining assets.
The Chamber of Mines sees this as a breakthrough, which has the potential to improve the sustainability of the gold mining industry.