SIA Engineering staff gets $0.6 mln worth of bonuses

The aircraft maintenance company said it recognises efforts of its employees, the reason it is sharing its productivity gains with them.

Mr Stephen Lee, Chairman of SIA Engineering Company Limited (SIAEC), on Thursday presented a cheque of $0.6 million to staff, as part of the Company’s productivity gain-sharing programme, an announcement from the SIA Engineering said.

The presentation was made at a National Day Observance Ceremony of the Aerospace and Aviation Cluster held at the SIAEC A380 Hangar.

The National Trades Union Congress (NTUC) unveiled its Cheaper, Better, Faster (CBF) strategy in 2009 to help improve the global competitiveness of companies and to benefit workers in Singapore.

According to the release, the strategy started in November 2009 when SIAEC launched six CBF initiatives in Phase 1 of the programme.

With the full implementation of Phase 1 in April 2010, the programme progressed to Phase 2, with an additional seven CBF initiatives in three operating divisions.

SIAEC said it is eyeing to achieve $10 million in productivity gains for its Phase 1 initiatives over the course of 12 months.

Mr Lee said, “Productivity improvement is a collaborative process, and is most effective when all employees partner management to identify and implement continuous improvements. The national initiative of Cheaper, Better, Faster has given us all a good platform for employees, unions and management to work together to sharpen our competitiveness.”

“The global aerospace industry is intensely competitive. Our competitive edge and differentiating factor is our people - the skills of each employee, the readiness to embrace change, the synergy of our collective teamwork and the flexibility of our workforce. These give us the competitive edge in the global arena,” said Mr William Tan, Chief Executive Officer of SIAEC.

Recognising that employees are keys to the success of its CBF strategy, SIAEC is sharing its productivity gains with staff. For the productivity gains of Phase 1 achieved from February to June 2010, the aircraft engineering company is giving staff in its three operating divisions a total of $0.6 million.