After years of real-term wage cuts for many Lloyds Banking Group workers while the bank rakes in and retains billions of surplus capital, it is generally felt they should be dedicating more money from yearly profits towards supporting staff.

Over years many jobs naturally transform as the organisations pursue cost savings, multi-skilling and automation to perform routine simple tasks. Workers are complaining their roles are no longer reflective of their grade or pay.

Workers predominantly in grades D to G are reporting it takes too long to get to the mid-point of their pay range. They feel they are not getting paid the proper market rate for the job. Some report being in role for 10 to 15 years and still not achieving it. 

Market movement is the percentage pay ranges increase to reflect changes in market labour forces. Typically these have been 2% across all grades yet in 2022 staff primarily in grades C to G felt the bank where applying lower movement than needed.

GPS / Bonus is massively weighted towards higher grades. Grades D to G can earn between 20% to 50% on top of their high salary whereas Grades A to C typically earn 5% on a lot less. Evening this percentage out across the grades will provide a fairer proposition.

Workers for some time have found far more competitive offerings from major banks as well as fintech companies for doing the same role. Staff are tired of being paid less than they are worth to the labour market and Lloyds will face staff retention and attraction issues.