On Tuesday your FSU bargaining team proposed a CPI pay safety net to Bankwest, to resolve the outstanding issue of pay in this round of negotiations. Management didn’t agree on the spot to paying their employees fairly, but they’re taking some days to consider it.
EGM Jason Chan continues to ignore the needs of employees – he didn’t join the negotiations yesterday, despite our invitation. So we’re taking this to Matt Comyn.
What would you say to Matt, about why we won’t accept a pay cut?
Our CPI safety net proposal is a fair solution
The FSU proposal of a Consumer Price Index (CPI) safety net in the pay clause would ensure certainty and security for members.
Our proposal included:
- 3.25% or CPI (whichever is greater) for 2021 (backdated); and
- 3% or CPI (whichever is greater) in 2022 and 2023 respectively.
Unlike Bankwest’s previous proposal, installing a safety net of CPI within the agreement guarantees members would not be forced to take a real-world pay cut during the life of the agreement.
Our proposal is reasonable and sensible in light of forecasted cost of living pressures, what our CBA colleagues secured in their EA, and the ongoing market-leading profitability of Group.
The Bankwest bargaining team have taken our proposal back for consideration and we will notify members once we know more.
Time for Matt Comyn to get involved
Having key decision makers in the room at critical points of the negotiations, such as now, provides the best possible avenue to progress the discussion.
Disappointingly despite the request from the FSU team for Jason Chan (Bankwest Executive General Manager) to attend yesterday’s negotiations, he did not turn up.
If the Head of Bankwest is unwilling to meaningfully engage in these negotiations and reach an agreement, then it is the responsibility of CBA CEO Matt Comyn to get involved.
In February, Mr Comyn predicted “…that inflation would be 3% to 3.5% by midyear”. This figure is now looking conservative, after increasing pressures over the last month.
Members have a fair expectation that Senior Management take these discussions seriously and we will be escalating calls for Matt Comyn to engage in the negotiations.