Westpac workers vote on pay parity offer

Friday 13 April 2007

Westpac workers vote on pay parity offer

Union members at Westpac will begin voting next week on a pay offer that would see many of them receiving similar pay to their traditionally better paid colleagues at ANZ National Bank. The pay offer will increase the top amount a Westpac worker can earn by between 7.1% and 11.8%, depending on their job. If the offer is accepted some tellers will be eligible for pay rises of $4000 over the next year.

“Westpac workers have been campaigning for pay parity and this offer delivers on that goal for a large number of staff,” said Finsec Campaigns Director, Andrew Campbell.

The offer follows on from Better Banks, Finsec’s ongoing, industry-wide campaign that aims to improve New Zealand banks for both customers and workers. Better Banks is focused on improving pay, staffing levels and customer service in all New Zealand banks. Some issues, such as staffing, are still to be resolved.

The offer also includes a commitment from Westpac to move away from a core pay system that is based on staff having to reach targets, some of which are linked to selling products and debt to customers. It will instead reward staff for their skills and their application of these on the job. Bank workers have been critical of sales targets that link their pay to selling debt products to customers.

‘If this offer is accepted and a new pay system is implemented, it will leave BNZ as the largest remaining bank in New Zealand that still links selling debt products to its customers as part of its core pay system,” said Campbell.

ENDS

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