Commbank Individual Agreement

The bank informed fsu that after months of negotiations, it had no hope of reaching a company agreement with the union and would soon put its proposals to a vote by its 32,000 employees. “This is CBA`s best offer to date. But it`s still not 3% for everyone.¬†Finally, the FSU told members, “We remain close to an agreement. However, the bank failed to properly ensure that the salaries of some IFAs were better off than the company agreement between 2010 and 2019, by not taking into account actual working hours or ensuring that wages were in line with EA`s guaranteed wage increases. Angrisano, however, accused the CBA of trying to divide its membership by predicting a vote on a deal “that doesn`t pass the pub test.” “Vace ed. Push, push, push the individual deal, otherwise you will have a pittance wage paid,” she said. This payroll was largely due to the Bank`s widespread use of individual agreements to turn employees` EA terms into higher wages and fail to ensure that wages for hours worked were taken into account or maintained in accordance with wage increases. The union has offered the bank the option to enter into individual agreements for employees earning more than $115,000, with the risk of underpayment being low, but CBA wants to maintain the option for all employees. For employees subject to separate agreements or one-off employment contracts, the Bank has proposed to limit any 3.25 percent wage increase to those earning up to AUD 75,000. Some CBA employees told the Financial Review that they didn`t even have the sales interview and only got the signing agreement when they started the job. The agreement clearly states that a worker who accepts an offer within the meaning of clause 12.1 may be exempted from the provisions of the arbitral award and the EBA with regard to days of leave from service, overtime and separate allowances, meal allowance, leave instead of travel time, on-call allowances, telephone availability allowance, increase in service allowance and annual leave charge.

The bank offers a 3.25 percent salary increase for all EA employees, followed by salary increases for those with individual agreements. “The company agreement was never offered, it was literally just the individual agreement,” said an employee of the bank`s division. “The FSU will not look and allow the CBA to pressure its workers to accept an erroneous company agreement that seeks to legitimize and maintain the practices behind the massive wage theft revealed in 2019,” she said. “The agreement proposed by the CBA would change the rules so that the Bank can continue the illegal behavior of the past without consequences.” FSU National Secretary Julia Angrisano called the bank “unmorseless wage thieves” and said the proposed deal watered down security measures for the use of individual agreements. “This goes against the strange idea that it is linked to an individual relationship with the worker and even more so to the distance from union and collective bargaining.” One of the turning points in this periodic dispute between the Bank and the industrial union is that the CBA proposes to unilaterally apply a more generous, albeit unequal, wage increase, without waiting for a vote (of all employees) on the proposed company agreement or a second vote on union shares by FSU members. The Bank`s senior executives, including Matt Comyn, Chairman of the Board of Directors, have been involved in nearly a year of intensive negotiations, which the CBA sees as an attempt to simplify conditions and ensure the deal is in line with modern working practices. . . .