Unite at the Co-operative Bank

Unite at the Co-operative Bank

Unite the Union Members' Pay Claim for THE CO-OPERATIVE BANK P.L.C.

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We’d like to thank all members who completed the annual pay survey, and as always your feedback has shaped the pay claim which was submitted to the Bank, details of which can be seen on the news section of our website – www.unite-at-the-co-op-bank.co.uk . Your Senior Unite representatives have recently met with Co-operative Bank negotiators to discuss the pay claim for 2024. The offer has been discussed with our reps committee, and we are putting the following offer to you with a recommendation to accept. The proposed offer is detailed in full below. The pay ballot for Unite members will be open between 14th Dec – 5th Jan so you can have your say on Pay 2024 – co-operative-bank-pay-ballot .

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 16 th – Fri 27 th 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

Unite the Union Members' Pay Claim for THE CO-OPERATIVE BANK P.L.C.

We’d like to thank all members who completed the annual pay survey, and as always your feedback has shaped the pay claim which was submitted to the Bank, details of which can be seen on the news section of our website – www.unite-at-the-co-op-bank.co.uk . The Bank continues to face significant cost issues, however after several loss-making years, it looks like we might have finally turned the corner. So along with discussions on pay, we have once again proposed additional benefit items for consideration to enable the business to further improve your terms and conditions. Your Senior Unite representatives have recently met online with Co-operative Bank negotiators to discuss the pay claim for 2022. The offer has been discussed with our reps committee, and we are recommending the following offer to you. PROPOSED PAY IMPROVEMENTS Band C and D colleagues We have argued for several years that low percentage increases in the overall pay pot do not allow for significant differentiation between performance ratings. Whilst the financial position of the Bank is improving, the turnaround is still at an early stage. So, the Bank have offered – an across the board 3% increase for bands C and D for all staff with a rating of ‘working towards’ or above. This is a welcome improvement on recent years, but recognises that any differentiation that could be achieved with a pay pot of 3% is relatively small. Band B colleagues A pay budget increase of 3.0%has also been set for the band B population. Individual increases will be determined by leader discretion as previously. PROPOSED CHANGES TO REWARD Ethical Workplace Following the joint work that has been undertaken in this area throughout 2021, both parties will continue to work to embed the Ethical Workplace and Culture pillar. This includes: Following on from the joint training initiative on workplace bullying, both Unite and the Bank commit to further development and support for leaders to help them to identify and appropriately support colleagues. For the Bank to be truly ethical, Unite believes that performance feedback needs to be ‘bottom up’ as well as ‘top down’. After discussions, the Bank propose to further embed “how” as part of the performance management process, by continuing to develop 360 feedback within CoreHR, to enable staff feedback on manager performance. The lack of a half-year appeals process has been disadvantageous to staff, so we are pleased that the Bank has agreed to reintroduce a mid-year appeals process to give staff the opportunity to formally challenge their performance rating prior to the End of Year process. Multiskilling Members in the Contact Centres have raised the issue of multiskilling with Unite, and as part of pay negotiations, the Bank are proposing a new pay model for multiskilled roles. This will replace the Bi Annual Policy. The Bank acknowledges that fraud multiskilling may not be for all and whilst all colleagues will be offered the opportunity to undertake the training, they will also have the opportunity to opt out. It is proposed to move all staff currently signed off in at least one of the three fraud skills (Disputes, Falcon, Detica) to the DR2 Customer Service Specialist roles with a resulting salary increase as follows (Salaries for Part time staff will be pro-rated as approporiate): All 3 – move to minimum £20,000 (this is the reference point for DR2) 2 skills – move to minimum £19,500 1 skill – move to minimum £19,000 2021 Bonus Initial discussions have taken place, and the Bank has assured Unite that it is confident of being able to pay improved bonuses is 2022. 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 A ballot of Unite members will run from lunchtime on Mon 6 th Dec to 5pm on Fri 17 th Dec. Please look out for details of the ballots in your email in-box, and on the intranet. If accepted, the proposed changes to pay will be applied to the April payroll, backdated to April 1 st . 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/ ). Your negotiators and reps committee feel they are able to recommend this offer, however the decision to accept or reject the offer lies with you, our members. Please take the time to cast your vote. Unite Senior Reps  Jane Lewis & Dave Williams

INTRODUCTION