“High workloads” are creating burnout situations in banking, with the financial sector being “the only one” in the country with “an apparent decline in purchasing power,” according to a diagnosis published this Wednesday by six trade unions.
Prepared by Mais Sindicato, Portuguese Union of Financial Workers (SBN), National Union of Banking, Insurance and Technology Workers (SBC), Trade Union of CGD Group Companies (STEC), Independent Banking Union (SIB) and Union of Financial Workers (Sintaf) , the diagnosis warns of the difficulties facing some 90,000 bank employees in Portugal and calls for “concrete action to ensure the dignity and well-being of workers.”
According to six trade unions, the document has been presented to political parties with seats in parliament, and hearings have also been requested from the President of the Republic.
Among the problems identified was the conclusion that bank employees “have a high workload, which leads to situations of ‘burnout’.”
“Workers are increasingly using the logic of multitasking, since customers can interact with financial institutions through various channels (branch, telephone, email, application), and performing different tasks can lead to stress and significant fatigue. , involuntary mistakes and even situations that are difficult to return to, such as burnout,” they say.
Moreover, they say, “the pressure to do extra work exists without appropriate pay incentives and with notice that they may be included in the list of workers to be laid off in the next restructuring.”
“For many years, this extra work has not been paid because workers fall victim to the pressure of not being registered and, if there is one, it can be easily faked or deleted. And despite consistent complaints from trade unions about the working conditions of the Authority (ACT), inspection activities, if any, yield little results, as the hierarchy forces workers into hiding,” the published document says.
In addition, wage growth is below inflation (with the financial sector considered “the only one in Portugal with a clear decline in purchasing power” of 7.3%) from 2021, a requirement imposed by digital transformation and the risks associated with it. artificial intelligence and automation of banking processes, which leads to “job insecurity.”
The diagnosis also states that “economic crises and bank restructuring have led to a lack of job security and a climate of fear in the sector,” in addition to “serious situations of harassment in the workplace,” from “humiliation in front of colleagues, suspension from work.” functions and replacement with tasks of a lower category, strict isolation, without work material and without assignment of skills” and which “may even lead to exclusion from the workplace.”
At the same time, career opportunities are “increasingly limited, leading to frustration among workers,” many of whom “are looking for growth and new challenges outside the banking sector, especially younger people, highlighting the aging of the banking class.” .
Given the current situation and the “importance of the financial sector,” the unions are calling for “concerted action by bank managers and policymakers to address these issues in a fair and effective way,” stressing that “it is necessary to promote a decent working environment, provide continuous training, guarantee job security and properly value bank workers.”
“Only in this way will it be possible to build a resilient and sustainable banking sector capable of meeting the challenges of the future,” he warns.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.