NAB - Your Job Security Must be the Driver of Decisions

Wednesday, 22 November 2017

Last week FSU Reps across the country met to work through the NAB restructure announcement.

Wednesday, 22 November 2017

Reps acknowledged that the industry was changing quickly as a result of digitisation and automation. Through these changes it is essential that the workers who generate billions of dollars in profits should be treated with dignity and respect.

FSU Reps overwhelmingly identified the need for workers to have choice and control through the changes – this is central to being treated with dignity and respect.
NAB Agreement Includes Important Protections

First and foremost there is an expectation that NAB will work collaboratively with the FSU to fairly apply the terms of the agreement. NAB should also make every effort to support existing employees through the changes.

The things that were identified as most important by FSU Reps include:

  • A detailed consultation plan to be provided immediately;
  • Timelines should be adjusted to ensure natural attrition and voluntary redundancies deliver the desired reduction in numbers;
  • Job security should be the primary consideration at all times;
  • Redundancies should be limited to voluntary wherever possible;
  • New Roles should be offered to internal candidates first and training and development must be made available to reskill employees for new roles;
  • Permanent employees to be given first preference for all roles where outsourced functions are being brought back in house.

Additional Post Retrenchment Support Welcomed

While “The Bridge” is welcomed as additional support for retrenched employees, what is critical is a plan and support to help employees maintain employment and transition into the jobs of the future.

The good news is the NAB agreement includes industry leading employment protections. It puts job security front and centre in the decision making process.

Correspondence Issued to NAB

After meeting with NAB last week, FSU has also issued correspondence to NAB. We detailed how we could work constructively together through the changes. This would include genuine consultation and regular meetings with decision makers, support for staff to reskill, and a planned and co-ordinated approach that puts job security at the forefront of all decisions.

Membership Matters

Please share this update with your colleagues. By joining you stand side-by-side with thousands of finance workers to support a plan for our industry, including genuine career transition support for all workers into the jobs of the future. As an individual, you will receive support, advice and representation when you need it.

Join online today

Contact Details
Finance Sector Union
Ph: 1300 366 378

Authorised By: Julia Angrisano, National Secretary

Authorised by Julia Angrisano, National Secretary