Ljubljana - Staff at Slovenia's national postal company and its sheltered workshop are looking at higher pay under a collective bargaining agreement signed on Thursday that caps months of negotiations.

The agreement, signed by the management and trade unions representing staff in both companies, is to provide a suitable level of social security to employees and stable and successful business in the long term for the state-owned company, the sides said.

"The agreement is a compromise between employee rights and the company's abilities as it continues to transform from a traditional postal operator into an international postal and logistics company," said Tomaž Kokot, interim CEO of Pošta Slovenije.

Both him and Majda Stubelj, the head of the conference of the in-house trade unions, said they were happy the deal was signed before what is the busiest time of the year for the company.

"We have been emphasizing the need for fair pay throughout. We are happy the employer largely accepted our argument on the need to raise both base pay and secure proper bonuses for work under specific conditions and for a stimulating remuneration system," said Stubelj.

Another unionist, Saša Gržinić noted progress in recent years but said the path was still long as it was impossible to put right with a single signature 10 years of cuts to worker rights.

He said the most important task next year would be to amend legislation to bring the financing of the public service up to date with the actual situation.

Under the agreement, valid until the end of 2025, employees are to benefit from four exceptional pay adjustments, the first of which was in October, at 4%, with further planned each year in January.

Wages will also be adjusted to inflation in the past year in March. They are thus expected to increase at a faster pace than in the rest of the corporate sector over the next four years, which should make up for the current lag.

The agreement also entails changes affecting the place and time of work, defines the maximum commute time for various types of staff and payment of overtime. It also brings new bonuses reflecting the specific nature of the profession.