Workers will be consulted and engaged on the implications of generative artificial intelligence (AI) in their workplace, under a new Enterprise Agreement (EA) that’s been strongly endorsed by workers at Cbus, one of Australia’s largest superannuation funds.
A range of other clauses relating to reproductive, menopause and menstruation leave have also been agreed to in this landmark EA that sets a new benchmark for the industry.
AI is impacting all organisations in the finance sector and its use promises substantial benefits as well as risks for workers. This new EA provides for broad consultation with workers about AI, and specific notification to workers whose roles are materially impacted by AI.
FSU National Assistant Secretary Nicole McPherson said:
“Workers have won an EA at Cbus with conditions that set the gold standard for the finance sector. They’ll not only benefit from the conditions they’ve achieved but have set a bar for others in financial services.
“In relation to AI there’s industry-first protections in this EA with an extra five days consultation time if a role is impacted by AI. The Joint Consultative Committee – made up of employer and union representatives – has to consider AI.
“At a time when workers in all industries are rightly scared about the impact of AI on their jobs, we are pleased to have secured an agreement that provides real involvement for workers on issues that affect them.
“This agreement is testament to the close collaboration we had in the lead up to bargaining with the Cbus People and Culture team. Their willingness to engage in productive conversations on the need for this clause helped lay the groundwork in bargaining.
“Other clauses will make a significant contribution to better conditions at work. This agreement has five days of reproductive and pathways to parenthood leave which comes on top of the 12 days of paid menopause and menstruation leave achieved in the last EA.
“This EA didn’t just deliver improvements in conditions but also wages. There’s a 12.5% pay increase over three years starting with a 4.5% annual pay increase backdated till 1 July 2024.
“Achieving a comprehensive and worker friendly EA at this level highlights the benefits that can only be achieved by collective action. We pay tribute to the workers at Cbus who have earned these improvements and a well-deserved pay rise to help them better serve their members.
Cbus Super’s Chief People Officer said:
“The new Cbus Super agreement ensures that we are providing progressive industry-leading conditions for our people including on AI consultation, reproductive and parenthood leave, and increasing paid parental leave to 26 weeks. We are delighted to have finalised this benchmark agreement with the union.”
Media contact: Stephanie Lim – 0434 160 521
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