Santander Operations pay boostTelecoms & Financial Services, Santander February 8 2018
Members in Santander Operation (formerly Geoban) have had their 2018 pay rise – the third and final instalment of a three-year deal brokered in 2016 – confirmed at 2.3 per cent.
G1 and G2 grade employees, however, will also now benefit from a new £500 ‘Flexible Benefits Allowance’ which will be paid in monthly instalments from March 1 following CWU pressure on the division to enhance the 2018 settlement to reflect higher than expected inflation rates.
The package, which is flat rate and therefore worth the same cash sum to full-timers and part-timers alike, mirrors an identical payment that that was negotiated for lower-paid workers in Santander UK last September. They will also begin receiving the allowance in March pay packets.
Assistant secretary John East said: “From the moment the new allowance was agreed for our lower-paid members in Santander UK the CWU has been arguing that Geoban should follow suit – and I’m pleased to say that the subsidiary has now heeded our calls.
“Given the overwhelming majority of G1 grade people, representing the bulk of our membership in Santander Operations, are on under £20,000 – for those individuals the extra £500 cash sum equates to around 3 per cent of salary, on top of the fully consolidated 2.3 per cent pay rise they will receive on March 1.
“Even for S2s it works out as an average of 1.5 per cent on top of the 2.3 per cent consolidated rise.”
Meanwhile, salary ranges have been increased by a minimum of 1 per cent, in accordance with the three-year deal and existing pay progression – and existing pay progression arrangements for G1 and G2 employees in operational roles will apply as normal, except for Operations 1:1.
For those members only, the existing arrangements will be applied in March, following which the scheme will be suspended pending a review which will commence in the second financial quarter.
John concludes: “This package represents a real increase in cash terms for the overwhelming majority of our members in Santander Operations which we hope will be welcome given the surge in inflation that we are experiencing. The review of pay progression for the lowest pay band is important to ensure we keep members on a parity with colleagues in Santander UK where we have successfully argued that existing arrangements are not delivering for our members and will be reviewed.”