Finance Sector Union welcomes CBA's collective bargaining
The Finance Sector Union (FSU) has welcomed the Commonwealth Bank’s (CBA’s) move to collectively bargain with it, reflecting the wishes of CBA employees — with a draft agreement currently being considered by FSU members.
FSU national secretary Leon Carter said that CBA has been an enthusiastic user of the Australian Workplace Agreement under WorkChoices, but that the change to Fair Work Australia had meant that the bank had taken on board employee wishes for a collective agreement negotiated by their union.
“Workers at CBA have wanted a collective agreement to better protect their wages and conditions for some time, we congratulate [CBA] for coming to the table and more accurately reflecting the wishes of their staff,” said Carter.
“The one-year agreement would deliver a 4 per cent pay increase to employees who meet or exceed expectations for work during the 2009-10 financial year,” he added.
Carter said parental leave remains at 12 weeks on full pay for CBA employees, and that the bank was still considering whether to offer superannuation on unpaid parental leave, in the wake of Westpac and National Australia Bank doing so.
Recommended for you
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
Mason Stevens has tapped Investment Trends’ head of growth, alongside two other hires, to bolster its distribution team.
