Joint Statement from AXA and UniteÂ
- The 2020 pay budget has been reviewed by AXA and Unite.
- A 3% pay increase to the overall budget has been offered.Â
- Individual pay awards will vary based on 2019 performance and position in pay range.
- Bargaining unit ballot will run from 10th– 21thÂ Feb.Â
This statement sets out the overall 2020 pay budget (how much AXA has to spend on the annual pay increase) and framework (how the budget is distributed). This is negotiated between AXA and Unite for Associate to Professional bands and applies to all AXA Insurance and Corporate Centre employees.
This yearâ€™s talks have concluded with an offer of a 3% increase to the total pay budget for employees in Associate and Senior Associate bands. The same budget will apply to the employees in the Professional to Senior Leader bands. Pay increases will take effect from 1st April 2020.
AXA and Unite pay budget review â€“ Senior Associate and Associate
Though the 2020 pay budget (the amount available to spend) is 3%, actual pay awards for individuals will vary according to two factors â€“ 2019 performance and position in pay range. This means that the budget will be geared more towards those with higher individual performance and those positioned at the low end of the pay range, as can be seen in the matrix below.
Individual pay awards will be formally communicated to employees in March. Further information about how pay is distributed using the matrix can be found on theÂ Manager AreaÂ on ONE.
Professional to Senior Leader Pay Approach
Managers who are responsible for pay decisions for the pay review process (also known as Pool Heads) will have discretion to set pay awards within the overall budget for employees in Professional to Senior Leader roles. These decisions are made in the context of a number of factors including individual performance, the external market and comparable pay between peers.
This year, for the first time, the Professional pay band will move into this discretionary pay population. Although this is a change from previous years where Professionals used the same matrix as Advisors and Senior Advisors, AXA are committed to ensuring that fairness is maintained in the new arrangement.Â Â Â
Other adjustments to Pay Ranges
AXA UK will increase minimum salaries in the pay ranges in line with the Real Living Wage for National and London (Â£16,926 and Â£19,565, respectively, for a 35-hour FTE contract).
New pay ranges will shortly be available on One and are effective 1 April 2020. Thereâ€™s more information on the pay review process on theÂ My Pay & Benefits pages on ONE.
Next steps – Bargaining unit ballot
Unite will ballot its members on this offer, with the ballot taking place between the 10 and 19 February.
Please speak to your line manager or Unite representative if you have any questions.
If youâ€™re a PPP employee, you can view the relevant pay statement on Healthnet.
Other AXA entities based in the UK will have their own pay arrangements.
Claudio GienalÂ Â Â Dominic HookÂ
Group Chief ExecutiveÂ National OfficerÂ