The tripartite agreement valid for a duration of four years with effect from January 1, 2017 to December 31, 2020 was signed in presence of Rakesh Prasad - deputy labour commissioner, Rakeshwar Pandey, president, Tata Power Employees Union, Jayant Kumar- chief HR-Tata Power, VV Namjoshi- Chief- Jojobera Station, and others.
Rakesh Prasad was effusive while stating about the three months time span taken to sign the agreement while commonly the period of signing takes over two years.
Speaking on the occasion Rakeshwar Pandey said that he is very happy that in other industries there is talk of VRS and low margins but it is nice that Tata Power & the Union has agreed for a settlement which is fair & beneficial to its employees & for the organisation. He also said that when we have good agreements, the responsibility for enhancement of productivity is higher on the members & the union so that the economic model is sustainable. He urged the Union members to contribute to the organisation with higher strive to make it better.
Complementing the Jojobera team for the wage agreement Jayant Kumar said, “Power sector is going through a paradigm shift from monopolistic to competitive structure and all companies are transforming themselves in order to be sustainable. We are proud of our long heritage & tradition of a Collaborative & Harmonious Industrial Relations which is a strength of the organisation. With concerted efforts of all sections of the employees, organization will emerge stronger and pursue growth opportunities”.
Congratulating all involved in the process, VV Namjoshi said, "In line with Government of India's efforts to provide housing to all the housing loan interest subsidy has been significantly increased. We intend to have great ambience at Jamshedpur in decades to come. He also thanked all the team members for a successful negotiation with amicable relationship.