At this time of year NACO would typically be consulting with members regarding details of the Annual Salary Review (ASR).
Whilst we have met with the business on a number of occasions, we have not made any significant progress towards an offer to members as a result of the unprecedented business and financial challenges facing the Co-operative Group.
NACO is now able to share with members, a proposed timeline for this year's review.
Despite the challenges faced by the Co-op Group, the business has committed to conducting salary reviews in a systematic and constructive manner, specifically considering appropriate market pay comparisons. We understand the business is now in the process of compiling market data to enable this process.
Once the review and benchmarking of pay and incentive arrangements has been completed, the Co-operative Group has committed to present their findings to NACO for negotiation, which we expect to be by mid-July. Should this proposed approach be delayed for any reason, and the mid-July target likely to be missed, NACO will engage with the business and consult with members to consider an alternative approach.
Importantly, any pay awards made following the negotiations will be backdated to the normal salary review date for all colleagues.
The business has also informed NACO that it is to set out statements of intent over long-term reward strategy at the Group AGM on 17th May, alongside confirmation of the renewed purpose and vision of the Co-operative Group going forward.
NACO is next meeting with the business to discuss pay on 14th May. We are committed to maintaining good communication with members and will inform you of any developments by email.
If you would like to speak with a NACO Official on any matter, please contact the National Office.