Pay negotiations between AXA UK and Unite have concluded with the following pay offer for employees in Uniteâ€™s bargaining group in levels 9-6a. Employees in levels 9 to 3 who are not collectively bargained for will also receive this pay offer.
A head line pay offer of 3% delivered as:
â€¢ A pay increase based on a 2.5% pay matrix. Plus
â€¢ A 0.5% targeted spend, that focuses on specific areas determined by each CEO with their HR teams to target anomalies and business critical areas. Unite will be kept informed of the companyâ€™s overall decisions in respect of its bargained for group.
â€¢ A pay increase based on the pay matrix below. The matrix has been built around a 2.5% award for someone rated as Successful in the Medium part of the pay range. Any increase will be based on your performance and position against the increased pay ranges.
â€¢ Pay ranges have increased by 1% L8-7, 2% L6 and 3% L5-3. Level 9 median to increase to Â£14,750. These increases reflect market movements in pay.
â€¢ As part of an ongoing dialogue between AXA and Unite, a 3% increase in the minimum salary to Â£14,750 (subject to employees not receiving an unsuccessful rating).
â€¢ A commitment by the company to continue to review Pay Ranges annually.
â€¢ As part of the settlement, AXA has committed to review the following during 2014: possible low cost options for employees with no PMI and possible alternative systems to Performance Related Pay.
The following matrix will be used to award pay increases for all employees in all levels 9 to 3:
- For employees Above the pay range (i.e. where their FTE Salary is over the maximum of the pay range) the amount payable will be based on the percentage from the “High/Above in range” category in the pay matrix and the maximum salary for that range.
Example of Pay Award
This will mean, if your current full time equivalent (FTE) salary is Â£18,000 in the medium part of the increased pay range and you achieve a Successful rating, your salary will increase to between 1.25% (Â£225) and 3.75% (Â£675), with a mid-point award being 2.5% (Â£450) in your April pay.Â Your manager will use their discretion to determine your award within the range shown in the pay matrix but any adjustments up have to be balanced with movements down.Â This is necessary to ensure we achieve the agreed spend.
Unite will ballot their members, with the ballot taking place from Friday 7th February until closure on Wednesday 19th February 2014.
Please speak to your Line Manager or Unite Representative if you have any questions.
|Karan HutchinsonGroup HR Director||Daryl WilliamsUnite Sector OfficerÂ (Finance)|