http:/http://www.fsunion.org.au Latest FSU News en-us http://www.fsunion.org.au/News-Views/Jobs-Safety-Net-Required-in.aspx   With recent media speculation about the impact of Bendigo & Adelaide Bank's 'restore the balance' regime where a greater proportion of bank income is channelled away from community branches and towards the corporate centre your union, the Finance Sector Union, has sought a commitment from Bendigo & Adelaide Bank that jobs and community services will not be impacted. We have called upon Bendigo & Adelaide Bank to guarantee that it will continue to invest in regional communities by ensuring all branches stay open, full services are maintained and all local jobs are protected. With Bendigo & Adelaide Bank's most recent half year profit of $170 million (up 4.4%) it appears that the 'restore the balance' is more about trying to please share market analysts than fixing a problem inside the bank. Share market analysts make no contribution to the business and are often criticised for taking a short term view based on encouraging share trading rather than creating sustainable businesses. Do you believe all branches should stay open and no jobs should be lost as a result of the changes to revenue sharing between community franchises and Bendigo & Adelaide Bank? We would like to hear from you. Please contact us by calling our Member Rights Centre on 1300 366 378 or by emailing us at fsuinfo@fsunion.org.au .  Wed, 22 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/Fiserv-Claim-Endorsement-Your-Vote.aspx Bargaining at Fiserv Australia is about to begin and it's vitally important that the agreement reflects the needs and wishes of Fiserv Australia staff.  We surveyed you to find out what your priorities are and what you want from your new Enterprise Agreement. It is time to vote on this claim. If endorsed, this claim will be tabled at negotiations between the FSU and Fiserv Australia and will form the basis of our negotiating position. Job Security: Fiserv Australia commitment to secure work arrangements   Workplace Inclusion: Replace maternity and paternity leave with primary and secondary carer leave to prevent discrimination Recognise modern family ties and relationships in personal/carer's and compassionate leave Leave: Improved access to RDOs (for those who are eligible) on Mondays/Fridays   Pay: Equitable, across the board pay increases that recognise your contribution and keep you ahead of cost of living increases Government mandated increase in employer superannuation contributions to be funded by Fiserv Australia in addition to pay increases   Safety and Security: New Agreement provisions for workplace health and safety   Introduction of Change: Recognition of FSU representation in consultation about major workplace change from the beginning General To maintain all existing Fiserv Enterprise Agreement 2010-2013 conditions which are not improved by the new Agreement. Your Vote Counts! To vote For of Against the Claim, CLICK HERE Make sure you enter your name and workplace for your vote to count (all personal details will be kept confidential by the FSU).    Wed, 22 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/NAB-Business-Bank-Restructure-Consultation.aspx Last week NAB announced proposed changes within Business Bank. Implementation under the proposal will commence in Victoria and will proceed at 4 to 6 week intervals. NSW will follow then QLD, WA and SA/NT. The changes will be rolled out in Metro areas nationally as well as Geelong (Vic). NAB health will transition to the new business model nationally based on the Victorian timetable. What happens now? The restructure will be rolled out in Victoria first with the consultation period commencing on 20 May and continuing through to 31 May. Each state will have its own consultation period before roll out. To ensure everyone gets to have a say your FSU Reps and Organisers will commence visits to BBC’s commencing 21 May. NAB is required to give prompt consideration to the matters that members raise and provide a genuine opportunity to influence the outcome of the proposal. The proposal will then be finalised before implementation commences. NAB will facilitate FSU visits throughout each states consultation period so please take time to meet with your FSU Organiser or workplace Rep when they visit your workplace. What do the changes mean for me? The restructure proposal introduces fulfillment centres and the introduction of some specialist roles in these centres. Fulfillment centres are proposed to be located at: Victoria: Mt Waverley and Docklands New South Wales: Marrickville and Parramatta Queensland: Cannon Hill South Australia / Northern Territory: Adelaide South Western Australia: Perth City As the proposal introduces a number of new roles NAB will conduct career and role clarity workshops immediately. An Expression of Interest (EOI) process will be undertaken to fill roles after the completion of the consultation period. All Associates will be required to complete an EOI and Bankers may complete the EOI if they would like to be considered for a role in a fulfillment centre. NAB have committed that there will be no retrenchments as a result of this process. Feedback We ask you to take the opportunity to provide feedback as soon as possible. Click here to download the feedback form and return it to your FSU Organiser or Rep. Alternatively email your feedback to nabstafffeedback@fsunion.org.au . Your FSU Reps will collate and present your feedback to NAB for consideration and report back to members. Please keep an eye out for future meetings. If you’re not a member join FSU online today. Individual assistance and support FSU members can get individual support and assistance by calling our Member Rights Centre on 1300 366 378. Tue, 21 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/WBC-Group-Leave-Loading-Annual.aspx   The Westpac Group Enterprise Agreement 2013 provides for annual leave loading to be replaced by an Annual Payment.  What does this mean for me? Until now, eligible staff received an annual leave loading payment at the time of taking leave.  Moving to an Annual Payment means that you will receive your annual leave loading for the year in one lump sum, paid in December, rather than at the time of taking leave. What about leave I have already accrued, but haven't taken? If you are an eligible employee who has accrued but not yet taken annual leave you should have received a one-off lump sum Transition Payment in your pay of 16 May 2013.  This payment is calculated based on any annual leave accrued as of 2 May 2013.  If you have already taken leave this year and received an annual leave loading payment, this has been taken into account when calculating your one off transition payment.  The Transitional Payment should be separetly listed on your payslip. What happens in December? In December 2013 eligible staff that are transitioning from annual leave loading to Annual Payment will receive a pro rata payment for the period between May 3 and the payment date. In following years the Annual Payment will be calculated based on your ordinary hours, any shift loadings and paid leave for each 12 month period. For more information contact Member Rights Centre on 1300 366 378.  Mon, 20 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/Media-release-Abbott-super-delay.aspx Coalition plans to defer superannuation increases will mean fewer jobs and opportunities for finance workers, and is an attack on the retirement savings of all Australian workers, said the Finance Sector Union today. “Finance workers are already feeling insecure about their jobs; this latest blow to finance jobs is unhelpful to say the least,” said FSU National Secretary Leon Carter. In his Budget reply, Opposition Leader Tony Abbott said that a Coalition Government would delay passing on a 3% increase to the superannuation guarantee by 2 years. “If super is increased to 12%, following the original timetable set by the Government, retirement savings are expected to increase by over $500 billion by 2037. That’s $500 billion of new business that can create jobs, growth and opportunity – inside and outside of the finance sector,” “There’s too much at stake here for the superannuation increase to be derailed now,” said Leon Carter. “At a time when more than 20,000 services jobs are being off-shored every year, and finance workers are feeling more insecure than they ever have before, we have the alternative Government prepared to put finance jobs at risk,” “Denying workers’ a comfortable retirement, free from financial strife, is irresponsible and ideological. Tony Abbott has demonstrated once again that he is no friend of Australian workers,” said Leon Carter. For more information or to arrange an interview with Leon Carter, contact Leanne Shingles on 0423 821 773 or leanne.shingles@fsunion.org.au Fri, 17 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/Record-CBA-profit-opens-opportunity.aspx "The best bank should have the best pay" Louise Arnfield, CBA National Enterprise Council President  (NSW/ACT)     After announcing  a record third quarter profit of $1.9 billion Commonwealth Bank is now the top rating bank by profit, productivity and customer satisfaction. Congratulations for you effort and success in achieving these milestones. Commonwealth Bank now has the opportunity to lead the banking industry in how it rewards its staff.  The $250 bonus in the form of a MasterCard Gift Card is a welcome start in providing this recognition but there is more to do. The $250 reward contrasts with the fact that CBA currently has the lowest rates of pay among Australia's major banks.  CBA can take a leading role in dealing with the current uncertainty in the community around jobs and planning for the future.  The Finance Sector Union Agenda 4 Change, developed from the results of an independent McNair survey of CBA staff, focuses on four major areas where CBA can be an industry leader: Secure Jobs Secure Pay Workloads, Leave and Hours of Work Workplace Culture  Discussions between FSU and CBA will commence shortly where we will encourage CBA to adopt the Agenda 4 Change, starting with the pay increases that are due from 1 July 2013. Make sure you get involved in making a CBA a better place to work by: Finding out more about the FSU Agenda 4 Change here Joining the FSU here Talking to your colleagues about the FSU Agenda 4 Change Pay rates comparison: Download the Executive Remuneration and Pay Rates Comparison for 2012 here .   Wed, 15 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/Bank-Profit.aspx FSU National Secretary Leon Carter talking about the link between bank profits and secure finance sector jobs. Bank Profit "By sacking people it (ANZ) was able to boost profit significantly. Put simply, a reduction in headcount produced 22 per cent of the increase in profit from the first half of 2012 to the first half of 2013." Sydney Morning Herald, 1st May 2013 In their latest public announcement of impressive facts and figures in reporting the half year result, ANZ continue to prove that their profits are more important to the bank than their people. Disappointingly there is no mention given to the people whose jobs and livelihoods have been lost in order to achieve this outcome. In an interesting comparison, the number of FTE jobs at Wespac has actually increased at the same time as the bank reported a 10% profit increase - demonstrating that profit does not actually have to come at the expense of jobs. Culling jobs in order to boost profits is indicative of pure and relentless corporate greed. Our finance industry is the most stable and successful in the world, and workers should therefore be entitled to job security and their fair share of these astronomical profits. There is no excuse for finance sector workers to be losing their jobs when they work in the country’s most profitable industry. If billion dollar companies like ANZ are making money out of our communities then it’s time they started returning the favour and investing in Australian jobs and skills. NAB’s half-year results were announced today. The bank reported cash earnings of $2.92 billion, up 3.1 per cent rise, and a 22.8 per cent increase in net profit to $2.52 billion. In achieving this result NAB cut jobs by 731 FTE globally, driven by a reduction in the UK of 795 FTE jobs. Thu, 09 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/Who-really-benefits-from-performance.aspx “Staff were getting better ratings than a previous year and still got slightly worse financial outcomes. What message does that send to morale?” NAB employee, The Australian Financial Review, 1st May FSU members have regularly nominated target stress and performance pay uncertainty as key issues that if addressed would make working in the finance sector much better. For members at St George Bank, BankSA and Bank of Melbourne the issue is coming to a head, with employees participating in a ballot in coming months to decide if performance pay should be introduced. This week The Australian Financial Review Workspace column looked at performance pay systems in the finance sector, in particular the annual bonus schemes at ANZ and NAB. The article revealed that NAB have saved $30 million a year by making changes to the annual bonus scheme, including lowering the limit for bonuses and providing managers with the discretion to decide which staff received bonuses – changes that were described as “deflating” by one employee. The article also referred to ANZ’s performance pay, reporting that 3 years ago the bank had reduced the bonus pool for the middle 65 per cent while increasing the bonus pool for the top 5 per cent. FSU National Assistant Secretary Geoff Derrick told The Australian Financial Review that ANZ’s bonus scheme “comes at the price of teamwork and collaboration. ANZ has some of the most convoluted bonus schemes in the finance industry”. “Too often these are convoluted systems that resemble going through the entrails of a strangled chicken to determine a person’s financial outcome.” The FSU are not the only critics of performance pay. A founder of the international NeuroLeadership movement, David Rock, told T he Australian Financial Review “the system as it’s set up looks logical and looks like it should work, but on the whole doesn’t actually increase performance.” Article author Rachel Nickless spoke to companies that have abandoned individual performance bonuses, like Software firm Atlassian who swapped individual performance bonuses for a company-wide annual bonus, and accounting firm RSM Bird Cameron. RSM Bird Cameron national chairman Kim Hutchinson told The Australian Financial Review “Everyone likes a bonus but I don’t think from an employer’s point of view it gives you extra performance. We’ve taken the view that people should be rewarded as they go through, not at the end of the year.” Most interesting was the view that performance pay schemes are broken. Towers Watson head of executive compensation Jon Finlay told The Australian Financial Review that incentive pay is broken in a lot of organisations, and said performance bonuses are of no use for staff who individually have no impact on a company’s profit and loss. “The lower levels in an organisation should be paid competitively, but what’s the use of getting a bonus for doing your job?” he argued. Read the article on The Australian Financial Review website. Fri, 03 May 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/Privacy-Awareness-Week-Why-isnt.aspx It’s good to know that banks are committed to protecting customer’s privacy and safeguarding your personal information regardless of the device you use for your bank transactions. The Australian Bankers’ Association, the industry body representing 24 Australian banks, marked the beginning of Privacy Awareness Week with a media release reminding us that that one of the most valuable services that a bank can provide is to protect its customers’ privacy. The ABA is right. Australians are concerned about the security of their private information. The Asia Pacific Privacy Authorities (APPA) published data this week reporting 78% of Australians have refused to provide personal information online. Check out the figures here . APPA goes on to pose the question “What are you doing to protect your privacy?” putting the onus squarely on the consumer. But when you consider the extent to which banks and insurance companies have (and continue to) offshore jobs, shouldn’t the question be “What are banks and insurance companies doing to protect your privacy?” 20,000 services sector jobs are being offshored every year, and since 2007 more than 6,000 Australian finance jobs have been offshored by our banks and insurance companies. Without intervention more job losses are on the way. While the companies try and make a virtue of the fact that the jobs they send offshore are not customer facing roles, what they don’t tell you is that all of the jobs they send offshore involve data-handling. The sort of data people in these jobs handle is your sensitive financial and personal data. Your name, address, and date of birth. Your partner’s details. Your beneficiaries. Your banking and credit details. Your assets and liabilities. How much you have, and how much you owe. Your credit card number. Your drivers’ licence and your passport. It’s the sort of data that you wouldn’t want falling into the wrong hands, or used without your permission. When it comes to privacy, Australians want to know what’s happening to their data. When we polled Australians earlier this year, 85% wanted banks and other businesses to obtain their consent before offshoring their data. Three of our biggest banks, ANZ, NAB, and Westpac, have all offshored Australian jobs, and ANZ and NAB are still at it. After the insurance giant Suncorp blazed the offshoring trail (not surprising given CEO Patrick Snowball achieved notoriety by offshoring thousands of jobs from British insurer Aviva) QBE are now following Suncorp’s lead by offshoring over 700 jobs to the Philippines and over 100 IT jobs to India. Thousands of jobs that used to be done here in Australia, handling the sensitive data of hundreds of thousands – perhaps even millions - of Australian customers, are now being done offshore. So while the ABA wants to reassure us that banks are protecting your privacy, and the Insurance Council stays silent on the issue, no one seems to be stating the obvious - Australian privacy law does not apply outside of Australia. If our banks and insurance companies really do want to protect our privacy, the best way to do that is to keep jobs and our data in Australia.   Join the campaign to keep jobs and data in Australia . Tue, 30 Apr 2013 00:00:00 GMT http://www.fsunion.org.au/News-Views/FSU-National-Secretary-named-Deputy.aspx The Services Leaders Group, an important element of the Government’s plan for Australian jobs, is part of a strategic mechanism for the Government to consult with leaders in business, unions and the research sector. It will encourage industry-led transformation of the services sector, including finance. The FSU will have a seat at the table and be an active member of the group, with FSU National Secretary Leon Carter named the Deputy Chair. With more than 20,000 Australian services sector jobs lost offshore each year, the establishment of the Services Leaders Group is a crucial step to securing the jobs of the future. The group will explore a wide range of industry issues such as services innovation, productivity, skills and international engagement. It will also undertake and commission research, providing advice to the government and championing the building of better firms and workplaces. There has been widespread anxiety with regard to the loss of services sector jobs in Australia. A recent union poll highlighted significant public concern over the loss of jobs associated with data storage and administration:  73% supporting government intervention to protect jobs in the services sector. Within the finance sector, the FSU have actively campaigned for governments to advocate the need for a long term plan for our industry. A report released by unions in October 2012 recommended the development of a services sector industry plan in order to address the offshoring crisis and boost the competitive position of Australia’s services industries. The creation of this group therefore responds to public anxieties over offshoring and  is a welcome move in the fight to keep services sector jobs in the country. “The services sector is losing Australian-based jobs and skills, and once they are lost they are gone forever. Workers in jobs at risk, such as finance and insurance jobs, and professional office-based jobs, can now have their voice heard in a forum that is focused on enhancing the industry, and improving workplaces. That’s a win for workers,” said Leon Carter. More information about the Services Leaders Group Tue, 30 Apr 2013 00:00:00 GMT