ANNUAL SALARY REVIEW 2023
We’d like to thank all members who completed the Unite Annual Pay Survey, as well as our recent Cost of Living Survey - as always your valuable feedback has shaped your Unite pay claim. A copy of the 2023 Pay claim was emailed to all members for whom we have an email address, but can also be seen in the news section of our website – www.unite-at-the-co-op-bank.co.uk.
Your Senior Unite representatives have recently met with Bank negotiators to table your pay claim for 2023. The resulting offer has been discussed with your reps committee, and we are putting the following offer to you for your consideration. Overall there are positives, however the proposal is complex and has a variety of outcomes depending on your individual circumstances. Therefore we feel that we are not in a position to make a recommendation on whether you should accept or reject the offer, but you need to read the detail below carefully to understand the impact on you before deciding how you wish to vote. The Bank’s communications on ASR provide both a calculator and worked examples to show how the proposed changes will affect you.
The pay ballot for Unite members will be open between Mon 16th – Fri 27th Jan, and you can cast your vote here - https://www.surveymonkey.co.uk/r/Unite_ASR_2023
You can join Unite online here -
Join Online | Unite The Union
PROPOSED PAY IMPROVEMENTS
Intro
The proposed increase to the overall pay pot is 8%, however individual increases will be made up differently depending on where you are in your pay scale or pay matrix. For most staff this will be a mixture of an increase to salary and quarterly unconsolidated lump sum payments. That means only the increase on base salary will continue beyond 2023.
Band D Detail
A new incremental progression pay scale, dependent on performance, is being introduced for Band D (see table). At each pay review (Apr & Oct), staff with satisfactory performance will move to the next pay level for their grade. Increases received will also depend on current salary.
This is intended to provide a more defined and quicker route to market reference, which addresses an issue which members have frequently raised with Unite and we have repeatedly raised on your behalf. Unite welcomes the proposed reintroduction of incremental progression.
Differences between the salary increases in Apr and Oct, and the proposed minimum payment of 8%, will be paid in four equal one off payments in Apr, Jul, Oct and Dec. Where the total of top up payments is £400 or less, it will be made as a single payment in Apr 2023.
Band D staff who are ‘below expectations’ or ‘working towards’ will not receive the minimum 8% as they will not be eligible for salary increases under the pay progression model. Those who are rated as ‘working towards’ will receive a 1.5% top up payment and the £200 one off payment in Jan 2023. Staff who are rated as ‘below expectations’ will receive the £200 one off payment only.
Those rated as non-performing have the chance to improve their performance rating appropriately by mid-year, at which point they will become eligible for an increase in Oct 2023.
In addition, for Band D staff who did not receive a Living Wage increase in 2022 there will be an pay review under the pay progression model in February (2023 only).
Band C Detail
Band C staff who are ‘meeting expectations’ or above, will receive a minimum of 8% of current salary. This will be made up of salary increases based on a pay matrix, and top up payments.
Differences between salary increases and the overall minimum of 8%, will be topped up by four equal one off payments throughout 2023 (Apr, Jul, Oct and Dec). Again, where top up payments total £400 or less, they will be made in a one off payment in Apr 2023.
Staff who are rated as ‘below expectations‘ or ‘working towards’ will not receive the minimum 8% pay increases, only increases based on the pay matrix -
In addition, the Bank wish to map all Band C roles against individual pay references, and to move away from existing pay reference families. These pay references will be reviewed annually as part of ASR, and will be available on CoreHR. This is intended to allow the business to be more responsive to external market rates of pay.
Band B Detail
A pay budget increase of 5.0% has been set for the band B population. Individual increases will be determined by leader discretion as previously.
OTHER PROPOSED CHANGES
Additional Improvements
- Six month pilot to provide free sanitary products on Bank premises to be launched during Q2 2023
- Further development of wellbeing and mental health resources on the intranet
- Ongoing re-evaluation of roles, with job descriptions reviewed as part of performance management conversations
- Leadership 360 feedback to be encouraged as part of performance process, new to leadership, new to role, etc.
- Increased band B and C pay transparency through publication of pay references in CoreHR.
2022 Bonus
Last year the Bank announced a change to bonus payments for eligible Band D colleagues for the 2022 performance year. Rather than one annual bonus payment in Mar 2023, it has been split into two stages - the first payment was made in Oct 2022 and subject to performance (Bank & individual) as well as the necessary approvals the second will be made in Mar 2023.
Initial discussions have taken place, and the Bank has assured Unite that it is confident of being able to pay bonuses to all other eligible staff in 2023. Payments are dependent on performance against the Bank scorecard and are subject to individual performance as well as Board approval and Regulator non-objection, which can only be given when the full year results have been published. Further details will be provided as soon as possible.
Pay Ballot
The decision to accept or reject this offer lies with you, our members. Given the varying impact of this offer, it is vital you understand the detail of the offer, and that you cast your vote.
The ballot of Unite members will run from 16th Jan to 5pm on 27th Jan 2023. You can cast your vote here - https://www.surveymonkey.co.uk/r/Unite_ASR_2023
If accepted, the proposed changes to pay will be applied to the April payroll, backdated to April 1st. Details of the ballot will be posted on our website, as well as the result when the ballot has closed (https://www.unite-at-the-co-op.org.uk/).
If you are not content with you end of year performance rating, you are entitled to submit a performance appeal. Advice on performance appeals is available on our website – Frequently Asked Questions | Unite at the Co-op (unite-at-the-co-op.org.uk)
Unite Senior Reps
Jane Lewis & Dave Williams
Contact Us
Union.office@co-operativebank.co.uk
Jane Lewis 07545 925221 / Dave Williams 07720 657410
