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Co-operative Banking Group – Pay 2012

Co-operative Banking Group

Pay 2012

 

The Joint Trade Unions (JTU), NACO, Unite and Britannia Staff Union, have been involved in lengthy and complex negotiations with Co-operative Banking Group (CBG) in relation to the 2012 pay review. This article provides the detail of the 2012 pay offer and NACO is recommending acceptance of this offer.

Affected members will receive further details by post. Please read all information carefully before casting your vote.

NACO recognises that the economic situation continues to be difficult for members and their families and we were seeking an increase above inflation. After several negotiation meetings, the final CBG offer of an overall pay pot of 2.5% inclusive of:

  • The proposed variable pay matrix detailed below which focuses the largest percentage increases to those lowest in the bands
  • A non-consolidated lump sum to staff above the maximum of their pay band, who have a performance rating of ‘Outstanding’ (£200), ‘Exceeding’ (£175), ‘Achieved’ (£150) or ‘Partially Achieved – New to Role’ (£100)
  • A £100 one-off payment in December to all colleagues (excluding those who had an ‘Unacceptable’ rating)
  • Pay ranges to be moved back to 80% - 120%
  • Bring any colleagues below 80% to the salary band minimum after application of the pay matrix

 

Proposed Pay Matrix

 

2012

Position in Salary Band

Performance Rating

Below min

Min - 89%

90% - 104%

105% - 109%

110% - Max

Band max and above**

Outstanding

7.00%

5.00%

4.00%

2.75%

2.00%

0.00%

Exceeding

6.00%

4.00%

3.00%

2.25%

1.50%

0.00%

Achieving

4.00%

3.00%

2.50%

1.75%

1.00%

0.00%

Partially Achieving –

New to Role

3.00%

2.00%

1.25%

0.50%

0.00%

0.00%

Partially Achieving – Experienced in Role

1.50%

1.00%

0.50%

0.00%

0.00%

0.00%

Unacceptable

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

 

Proposed Pay ranges

Market reference rates have been benchmarked to the external market, and it is proposed to adjust pay ranges accordingly prior to implementing the pay review. 

 

Proposed pay bands for 2012

Level

Minimum

Reference Salary

Maximum

E4

£57,400

£71,800

£86,200

E3

£48,400

£60,600

£72,800

E2

£41,200

£51,600

£62,000

E1

£34,000

£42,400

£50,800

F4

£29,200

£36,400

£43,600

F3

£24,400

£30,400

£36,400

F2

£21,000

£26,200

£31,400

F1

£17,800

£22,200

£26,600

G4

£16,200

£20,200

£24,200

G3

£14,400

£18,000

£21,600

G2

£12,800

£16,000

£19,200

G1

£12,000

£15,000

£18,000

 

CBG has demonstrated that business has been challenging so far in 2012, and they wish to control on costs as far as possible. NACO believes that this offer represents the best settlement we can achieve by negotiation for the 2012 review. 

Cast Your Vote

NACO is balloting members on this proposal - a ballot paper will be sent to all affected members, along with further details. Please indicate your acceptance or rejection of the proposal and return the ballot paper to NACO in the pre-paid envelope provided.

Should members choose to accept the pay offer, increases to base pay in line with the pay matrix will be backdated to 1st April. Implementation of the increases will take effect on 24th May.

Please note that the closing date to ensure that your vote counts is noon on Wednesday 9th May 2012. Should you require any further information or clarification on this matter please do not hesitate to contact me at the NACO National Office  or via email on ndb@naco.coop

   Neil Buist

   NACO General Secretary