Yesterday all Westpac Group employees received a communication from Management outlining their initial proposal on pay and other conditions for a new Enterprise Agreement. To be clear this is not a final proposal as bargaining is still at an early stage. Management know this and are returning to resume negotiations in July.
FSU members have said that we need a pay increase of at least 6% (for all staff) to meet the cost of living. When it comes to pay, “The Fix Starts with 6.”
By acting together we have an opportunity to achieve a real pay rise that keeps up with the cost of living. Our Union is holding report back meetings over the next 2 days and talking next steps.
Today the Fair Work Commission handed down its decision to lift the minimum wage by 5.2%. Inflation currently stands at 5.1% while the Governor of the Reserve Bank of Australia has predicted that it will reach 7%.
All employees covered by the Enterprise Agreement are impacted by cost of living pressures so all employees should receive a fixed wage increase that meets this cost. The Bank’s initial proposal to measure pay increases with other Banks in the “market” ignores the real life circumstances in which we all find ourselves.
And Westpac can absolutely afford to pay a fair wage rise. The Bank has enjoyed record profits in recent years, thanks to the hard work of employees across the Group.
Today’s minimum wage increase was a reminder of the power of collective action and what unions and their members acting together can achieve. By acting together at Westpac Group we can also achieve a real win in pay outcomes that meets the cost of living.
Join your colleagues by registering for your FSU report back meeting here:
Other matters we will report on at the meeting include:
- Dealing with excessive workloads
- Proposed changes to classification structures
- Fair leave entitlements (e.g. paid parental leave, family & domestic violence leave)
- Working from home arrangements
- Job security & dealing with workplace change
These meetings are open to FSU Representatives, members and interested Westpac Group employees. If you are not an FSU member yourself, then let us know you’re interested by registering to attend.
Your FSU Team