Wage Supplements and Grants: A Collective Agreement for Menora Mivtachim Insurance Company Employees

The agreement, which will apply to about 1,400 employees, will be valid until 2024. Employees will enjoy horizontal wage increases, increased bonuses, and additional economic benefits. Histadrut Chairman Arnon Bar-David: “Agreement that improves workers’ conditions and ensures their employment future.”

UCAPSE, the management of Menora Mivtachim Insurance and the company’s employees have signed a special collective agreement. The agreement, which applies to approximately 1,400 employees, will be valid until 2024.

According to the agreement, the company’s employees will enjoy wage increases of 3% in 2022-2024, reaching a 9% increase throughout the period of the agreement.

Also agreed that the budget for employee bonuses will be increased by at least 50%, while in 2022 the employees will receive an increased bonus of up to 80% of their salary in an amount of not less than NIS 6,000 for each employee entitled to an annual bonus. If the company’s profits exceed NIS 1 billion a year, the bonus budget will increase up to the level of the employee’s salary.

In addition, the agreement includes a special grant in the amount of NIS 1,800 for each employee who began working for the company by December 31, 2019.

The agreement also includes increased meal subsidies for employees, kindergartens, and summer camps – and a significant increase in the welfare budget.

It was also determined that the minimum wage for employees in the company’s call centers will gradually increase to NIS 6,000 per month, and for all permanent employees gradually up to the amount of NIS 6,500 per month – during the years of the agreement.

Histadrut Chairman Arnon Bar-David: “The agreement for Menora Mivtachim Insurance workers improves their employment terms and takes care of their employment future for the coming years. I thank the chairman of the UCAPSE, Adv. Gil Bar-Tal, Idan Or, the workers’ committee of Menora Mivtachim Insurance, and the management who knew how to cooperate with us for the benefit of the employees and the company. We will continue to work for all the workers in the economy. “

Menora Mivtachim Insurance CEO, Yehuda Ben-Assayag: “The strengths of the Menora Mivtachim Group are in its high-quality and professional human capital, which is an important resource in the group, and we will continue to cultivate it, both on a personal and professional level. We are happy about the substantive and fair cooperation with the Histadrut, the workers’ committee of Menora Mivtachim, and all those involved in the craft. The Menora Mivtachim Group puts the employees’ best interests before its eyes and will continue to do so in the future. “

Chairman of the UCAPSE, Adv. Gil Bar-Tal: “The management of Menora Mivtachim has excellent employees. They are entitled to the excellent agreement signed today by the workers’ committee and the UCAPSE, and the company’s management. A firm standing of the workers’ representatives has finally led to understandings between the parties and good results for all.”

Head of the Public Institutions, Histadrut, Insurance and Finance Division of the UCAPSE, Idan Or: “I am happy and proud of the agreement signed today at Menora Mivtachim Insurance. The chairman of the workers’ committee, Chen Kosher, and the committee members have achieved significant accomplishments for the workers, affecting every one of them in the coming years. I am happy and welcome the good news that the agreement brings to the employees and the actual recognition that the employees are the beating heart of the company and its success.”

Chairman of the Menora Mivtachim Insurance Workers’ Committee, Chen Kosher: “I am proud to present the workers with an excellent agreement, which has been formed in recent months for their benefit. To Idan Or and Adv. Yuval Brock for the close, professional and uncompromising accompaniment. I thank the chairman of the Histadrut, Arnon Bar-David, and the chairman of the UCAPSE Histadrut, Gil Bar-Tal, for the support and strong backing we received along the way. Thank you to all committee members and the negotiating team in particular.”