Pay 2011 – joint statement by AXA UK and Unite

We are pleased to announce we have reached an agreement on the following pay proposal for employees in levels 6a to 9:

  • A pay increase based on a 2% pay matrix. Plus
  • A 1% discretionary spend, the focus of which will be determined by each CEO with their HR teams to target anomalies and key problem areas.

Overall, this equates to 3% of the total pay spend for this group of employees.

Unite will recommend this pay review to their members for acceptance in the forthcoming pay ballot which will take place from Monday 7 February until Friday 19 February.

PAY MATRIX

The following matrix will be used to award pay increases for all employees in level 6a to 9:

Position in Pay Range
Performance rating

Low

(80% – 95%)

Medium

(95% – 105%)

High

(105% – 120%)

Above

(120% plus)
Outstanding

3.75% – 5.25%

3.00% – 4.50%

1.75% – 3.25%

1.75% – 3.25%
Excellent

2.75% – 4.25%

2.00% – 3.50%

1.00% – 2.50%

1.00% – 2.50%
Successful

1.75% – 3.25%

1.25% – 2.75%

0.25% – 1.75%

0.25% – 1.75%

□   This matrix has an element of manager discretion but any adjustments up have to be balanced with movements down – this is necessary to ensure this is affordable for the business.

□   It had been previously agreed for those employees Above the pay range (i.e. where their FTE Salary is over the maximum of the pay range) every third year a pay award based upon the maximum salary for their pay range will be made (i.e. rather than a Lump Sum award)

□   No pay award will be available for Partially Successful performance – but when performance is back to a sustained Successful level of performance a pay award can be made at that time (not backdated) based on this pay matrix. Bonus awards can be made to Partially Successful employees on a discretionary basis as normal.

□   There will be no changes to the pay ranges for 2011.

Lucinda Charles-Jones

Interim Group HR Director

 Bernadette Fisher

Unite Regional Officer

February 4, 2011 · Filed under Pay 2011

1 Comment »

  1. Carl Whinham Said,

    February 4, 2011 @ 4:07 pm

    Whilst you refer to this as a 3% total pay spend, unless you are an anomoly, or a key problem area, a vast majority of people will get approx 2%. Is my understanding of this correct?

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