Pay 2024 & 2025 - unite members accept the pay offer
After our best year yet for member participation in a pay ballot 60% of voters chose to accept the offer for pay 2024 and 2025.
Unite recognizes that 40% of members choosing to reject the offer is a significant amount and represents there are still great concerns with this pay deal.
Unite will be reviewing the feedback and concerns and providing feedback to the bank. Unite wants to make it clear that our work on pay is never over. If things deteriorate economically we will address this with LBG but we need the membership to be behind us.
This is why it is vital for you to join if you have concerns on jobs, pay and conditions as it is the strength of the membership that provides the power to make fundamental change.
Grade F members were the clear outlier with the majority wanting to reject. As with people of other grades, issues with the offer being below inflation were a common concern along with the volatility of the macroeconomic and geopolitical climate and how it is unfair for the cost-of-living payment to only be available for grades A – D.
Trust issues were also laid bare when it came to the move to devolved pay with many citing this as being a red-line.
Unite have been assured the process for applying devolved pay to grades F & G will be done in a fair and consistent manner. Should a member be concerned with how their pay award has been derived in practice we will be relying on you to get in touch so we can support you in challenging it.
What next?
Whilst formal pay negotiations will not be held for another 2 years this does not mean that is it for pay and reward. Unite will be using this time to focus on some of our outstanding pay priorities, many of which members left feedback on via the pay ballot, including:
DB pension scheme
Bank holiday pay
4-day working week
Unite are committed to ensuring that our members in LBG have secure jobs, fair pay and good terms & conditions. We will be engaging with members on the issues raised during our pay survey in the summer and also this ballot. We welcome the many members who have joined over the last few weeks which helps embolden our position, and look forward to speaking to you soon.
To keep up to date, follow us on social media using the handle @UniteinLBG, on Yammer by searching Unite the union or visit www.uniteinlbg.org
Our reward priorities will only be realised if YOU get involved and WE campaign for them. The past 2 years have been pivotal for us all, the example was set for what we can accomplish when we come together. There’s a lot of work ahead of us as we chart our course for better - but foundations to build from have been laid and with your involvement and support we will continue to win for LBG workers!