Peter Hanlon, executive People and Transformation of Westpac Group, said the new agreement was a win-win situation for employees and Westpac. National Australia Bank`s overall profit, which reported a profit of 2.5% to more than AUD 6.6 billion, was easily overshadowed by the banking group`s nearly 20 per cent cut. “This agreement strikes the right balance between employees, business and shareholder interests,” Hanlon said. WITH about 20,000 employees in Australia, ANZ has agreed on a one-year extension of the 2015-2016 enterprise agreement. The proposed agreement is valid for a three-year period that provides workers with greater security under longer-term operating conditions. And in 2016, the International Convention Centre introduced a provision in their EA that requires workers to ask their employer to use up to five days of paid paid leave (or take five days of unpaid leave) either to change their gender identity or to change their gender. The new agreement, which has yet to be submitted to the Fair Work Commission, is supported by Westpac executives and 90 per cent of staff who participated in the FSU vote. The current contract expires on December 31. Some 30,000 employees are expected to benefit from the new agreement.
“The agreement contains a number of important new benefits for workers, including strengthening flexible working arrangements for compliance with work and family obligations. This increased flexibility not only benefits staff, but also helps the organization better meet its customer service goals. The final agreement will be put to a vote by authorized staff in June, before they are submitted for fair work approval by Australia. Yolnu Elder Djambawa Marawili of Arnhem Land adds: “Ceremonies and mournings last for days, weeks and even months, depending on the faith of the linguistic group and the social status of the deceased.” Some would consider it discriminatory, i.e. they selectively benefit one group over others. Parker said that while these negotiations are often complex, Westpac and the FSU have brought a constructive approach to the negotiating table and reached an agreement in a timely manner. Christine Parker, Executive Human Resources and Corporate Affairs at Westpac Group, said the new agreement was a major step forward in our staffing offering and would help cement Westpac`s position as Australia`s employer of choice. Dent believes that when it is time for other large banks to renegotiate their enterprise agreements, employees, unions and bank customers are expected to offer these benefits. So it will be more of a standard than an exception, she says.
The new agreement will apply to most Westpac Group employees, including their regional brands St.George Bank, Bank of Melbourne and BankSA. “In addition, the new agreement contains a number of improvements in benefits and protections for workers,” Hanlon said. The prospect of real wage growth for thousands of financial services workers is fading following the collapse of a Commonwealth Bank low-wage supply during its current bargai cycle.