The FSU is calling on workers at Suncorp to the let the company know that their proposal on pay is not good enough, after the company proposed a four year agreement with no guaranteed pay increases.

The FSU and Suncorp are in negotiations for a collective agreement for the company’s 17,000 strong workforce.

“It has taken twelve weeks of meetings to get to the all important issue of pay in the negotiations, and we’re flabbergasted that all that’s on offer at the moment is not much more than a big fat zero,” said FSU Queensland Local Executive Secretary Michael Clifford.

“This is a real slap in the face for Suncorp employees who have kept the company afloat whilst dealing with the fallout of the merger with Promina, and the steep increase in claims and payouts following a run of floods, fires and damaging storms.”

“Suncorp employees have told FSU very clearly that they expect a pay outcome that will help them keep up with the cost of living over the next 4 years. Their claim is not excessive, it’s in line with the benchmark set by other employers in the finance sector, and they don’t want to go backward on pay,” said Michael Clifford.

FSU members have claimed a guaranteed increase of 4% per year. Suncorp’s pay proposal would see no guaranteed across the board pay increases over the four year agreement. Workers on base pay would get a one-off 2% increase. Any further increases would come from a pool of funds that would be applied individually to employees on base pay, and would be dependant on a combination of performance outcomes and managerial discretion.

“Suncorp employees want certainty, and to know they are being appropriately remunerated for their work over the next four years. What’s on offer will see many Suncorp employees go backwards in terms of the value of their pay,” said Michael Clifford.

“The only good news here is that this is a proposal, and is not set in stone yet. The time for Suncorp employees to be vocal about their distaste for this proposal is now. Staying silent will result in this pay proposal becoming reality, and that really will be bad news.”

ENDS

Media contact: Michael Clifford, 0419 871 210