ANZ has reached an agreement with around 20,000 employees in Australia to extend the 2015-2016 company agreement for another year. Read More Dent believes that when the time comes for other major banks to renegotiate their corporate agreements, there will likely be expectations from employees, unions and bank customers that these benefits will be offered. So it will be a standard rather than an exception, she says. Christine Parker, Executive Human Resources and Corporate Affairs at Westpac Group, said the new agreement is a big step forward in our employee offering and will help solidify Westpac`s position as the preferred employer in Australia. Among the contract proposals that are voted on by staff are: the proposed agreement is valid for a period of three years and offers workers greater security in the longer term as regards conditions. Westpac announced today that it has reached an agreement in principle with the Finance Sector Union for a new corporate agreement covering approximately 30,000 employees in Australia. The new agreement, which has yet to be submitted to the Fair Work Commission, is supported by Westpac executives and 90% of staff who voted in the FSU vote. The current agreement expires on 31 December. The new agreement is expected to benefit some 30,000 employees. FSU and Westpac will consult with staff again, with the final agreement to be approved by eligible staff later this year before being submitted to the Fair Work Board for approval. Parker said that while these types of negotiations are often complex, Westpac and the AUS brought a constructive approach to the negotiating table and reached an agreement on time. And in 2016, the International Convention Centre included a provision in its EE that allows employees to ask their employer to use up to five days of paid annual leave (or five days of unpaid leave) to change gender identity or undergo sex reassing surgery.
The new agreement will cover most of Westpac Group`s employees, including its regional brands St.George Bank, Bank of Melbourne and BankSA. While „sad business“ and transition leave may attract the most attention, the new deal would not benefit the entire workforce any more. The prospects for real wage growth for thousands of workers in the financial services sector are dwindling after the Commonwealth Bank made a low-wage offer in its current corporate bargai cycle. Learn more. Gain the skills and understanding to develop and implement relevant, clear and effective HR policies in your organization through AHRI`s short-term course „Developing and Implementing HR Policies“. .