By now, you would have heard that as part of our negotiations with ANZ for a new collective agreement, ANZ is proposing that the current across the board pay structure for Group 5 and 6 employees be replaced by the bank’s Global Performance Management framework.

How will the proposal work?

From 2011, annual salary increases for Group 5 and 6 employees would be determined by ANZ based on market data, your individual performance and your Performance Assessment Report (PAR) relative to your peers.

How will ANZ determine your salary increase?

ANZ have advised they would:

• Source market data from independent external consultants
• Provide FSU with an opportunity to provide its own market data for ANZ’s consideration
• Undertake market data analysis and prepare recommendations 
• Share and discuss data and recommendations with the FSU 
• Finalise a proposal for the CEO’s approval

ANZ will then communicate the new minimum salary rates for Group 5 and 6 employees to all staff.

Adjustments to individual salaries would then be made depending on the outcome of your performance review, where you sit relative to the salary range mid point as determined by ANZ and where you sit in relation to other staff doing the same role.

Once ANZ has completed this process they will determine your annual salary increase.

ANZ’s pay proposal will result in a signifi cant change to how pay increases are determined for you in ANZ and for this reason we need to know what you think about this proposal.

Watch out for your Organiser who will be visiting your workplace so that you can have your say.