ANZ employees have contributed to a $1.56 billion increase in ANZ profits in the last year…

The hard work, loyalty and commitment of ANZ employees has played a large part in the significant increase in ANZ’s already impressive profits. 

ANZ announced yesterday that profits are up by 53% on last year. Profits far outstripped both the market and analyst expectations. This is good news for ANZ and its shareholders, however it means little to those ANZ employees who will receive no increase in their pay packet from these profits this year.

The proposed Collective Agreement states that ANZ employees who are nearly reaching targets and receiving a 4 rating for two consecutive years, but not being performance managed, should receive a zero pay outcome. This situation positions ANZ employees differently to staff in the other major banks. In addition ANZ wants “sole discretion” when determining your performance objectives, and objects to the insertion of the words “reasonably exercised” in the Agreement. This approach does not recognise the contribution that hard working ANZ employees are making to achieve an outcome of $4.5 billion profit.

The FSU and ANZ have been asking for your feedback on the Collective Agreement proposal during October. This is your final opportunity to raise any concerns you and your colleagues have about the proposal for a new collective agreement with both the FSU and directly with ANZ. The consultation period ends on November 5, after which the FSU and ANZ will meet to discuss the feedback.

How do I have my say?

• Attend meetings and teleconferences;
• Go to the website www.fsunion.org.au (further information is also available on the website);
• Fax back the forms provided in your workplace; or
• Email: ANZ enterpriseagreement@anz.com cc FSU anzfeedback@fsunion.org.au

The FSU will return to the table with ANZ on 8 November to discuss the feedback that has been received from members.