- The pay review budget has been negotiated between AXA and Unite
- This statement applies to all AXA UK employees other than AXA Health or AXA â€“ Global Healthcare
- A 1.5% pay review budget has been offered
- Individual pay increases will vary based on performance and position in pay range
- Unite balloting will take place from 8th-19th February
This statement tells you the overall pay review budget (how much AXA has to spend on pay increases) and framework (how AXA will spend it) for 2021. This is negotiated between AXA and Unite for all Associate to Professional band employees in AXA UK, other than AXA Health or AXA â€“ Global Healthcare.
This yearâ€™s talks have concluded with an offer of a 1.5% total pay review budget for employees in Associate to Professional bands. The same budget will apply to the Senior Professional to Senior Leader bands. Whilst the overall budget will be shared across all eligible employees, individual increases will vary based on the circumstances set out below. The same 1.5% budget will apply in AXA Health and AXA â€“ Global Healthcare. Any pay increases will take effect from 1 April 2021.
Associate to Senior Associate Pay Approach
Though the 2021 pay review budget (the amount available to spend) is 1.5%, actual pay awards for individuals will vary according to two factors â€“ 2020 performance rating 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, following the matrix below.
Individual outcomes will be formally communicated to employees in March. Further information about how pay is distributed using the matrix (including how to calculate your position in range) can be found on the My Pay page on ONE.
Professional to Senior Leader Pay Approach
Senior managers who are responsible for pay decisions for the pay review process (also known as Pool Heads) will have full discretion to set pay awards within the overall budget for employees in Professional to Senior Leader bands. These decisions are made in the context of a range factors including individual performance, the external market and comparable pay between peers. Outcomes are reviewed centrally to ensure fairness and we have reviewed these checks and balances this year (including guidance given to Pool Heads) in order to ensure that they continue to lead to good outcomes for employees.
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£17,290 and Â£19,747, respectively, for a 35-hour FTE contract). The latest pay ranges are available on ONE and are effective 1 April 2021. Thereâ€™s more information on the pay review process on the My Pay & Benefits pages on ONE.
Unite will ballot its members on this offer, with the ballot taking place between the 8th and 19th February.
Please speak to your line manager or Unite representative if you have any questions.
Other AXA entities based in the UK will have their own pay arrangements.
Claudio Gienal Dominic Hook
Group Chief Executive National Officer
AXA UK & Ireland Unite the Union