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Pay is a major sticking point. Many of us have expressed anger and disappointment at being locked into a 3-year agreement that will leave us in financial hardship for years to come. Many of us have expressed concern that we would dramatically fall behind our industry colleagues. Many of us have said that the counter offer undervalues the skills and experience of dedicated RBA staff.

This feedback was presented to management representatives at a meeting this week. The Bank are in no doubt that too many RBA employees will not accept a proposal that will leave us all worse off.

So what next?

Your feedback will be provided to the RBA Governor and Executive Committee prior to the next negotiation meeting. RBA have agreed to genuinely consider alternatives. Our FSU representatives are willing to engage in further discussions and will seek members views should these discussions result in alternative proposals.

This is a real opportunity for the RBA Governor and Executive to demonstrate that their permanent skilled workforce is valued. Look out for more details to come.

What do we need to do?

In the meantime, the Bank’s unacceptable counter offer from three weeks ago remains in place so it’s critical that we all continue to express our concern and disappointment. All of us who have provided feedback so far have played an important role in supporting each other and it’s important that we continue to provide our feedback through management forums.

If you haven’t already, let the Governor know what you think of the Bank’s last offer and let us know what you’re willing to do through our link here. If you have already completely this yourself, pass it on to your friends and colleagues.

Many of us have already committed to taking various forms of action and all options remain open.

Your FSU Team