Following 16 months of negotiations over pay and conditions, the Finance Sector Union has recommended its members accept a new industry-leading enterprise agreement with NAB. Jim McIlroy reports.
Finance Sector Union (FSU)
Kerry Smith reports Australian unions are showing support for the Stop Black Deaths in Custody鈥揃lack Lives Matter movement.
The following motion to support the student climate stike on September 20 was passed on July 31.
The Finance Sector Union has slammed a plan to "embed" financial regulatory agency officers inside the Big Four banks and the financial management giant AMP. The FSU says that officers from the Australian Securities聽and Investments Commission (ASIC), which has been criticised for being 鈥渢oo close to the banks鈥, would be unable to penetrate the unethical internal culture of the banks.
The humiliating about-face forced on Prime Minister Malcolm Turnbull when he announced a royal commission into the banking and financial sectors on November 30 could be the beginning of the end for the Coalition government.
Finance industry workers are facing increasing pressure as banks seek to maximise their already hefty profits. Our jobs are becoming increasingly precarious, and all the while our wages and conditions are being threatened with cuts.
These days, if you walk into a bank, you鈥檒l find very few staff and a lot of ATMs, which not only give cash but do almost everything a teller can do. You will also find a concierge, whose job is to shift customers to self-service via online banking. Tellers have performance targets for shifting customers online.
How would you feel if you were one of the workers at National Australia Bank (NAB) who will be made redundant in order to cut costs?
You might have a family with small children, struggling to pay for the weekly groceries and bills, on top of the monthly rental or mortgage payments that you can barely afford.
It is amazing how innovative companies can be when it comes to finding more ways to exploit people.
Take for example the adoption of 鈥渁gile鈥 methods and processes in the workplace. Large corporations, in particular, have been the champions of agile practices as the basis for their corporate transformations.
Imagine a workplace where you could be put on a secret register for forgetting to say a word from a call centre script because it would be a breach of company policy. Then, if you left that company and tried to get a new job, your prospective employer would not hire you simply because you were on that register.
You would never know whether you were on that register; you would have no right of appeal; nor would your name ever be removed from it, regardless of whether you were eventually found not guilty of the allegation.
National secretary of the Finance Sector Union Julia Angrisano gave this speech at the CFMEU鈥檚 National Day of Action to Stop the Attacks on Workers on June 20. It was an inspiring speech that raiased some key issues affecting bank workers today.
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What is it with ex-state premiers and the finance industry?
First, Anna Bligh took on the leadership of the Australian Bankers Association (ABA), then Mike Baird moved to NAB in a senior executive role, and now Nathan Rees has become the national assistant secretary of the Finance Sector Union.
Workers at InTech Credit Union, who for the first time will be covered by an enterprise agreement, have won a 10.5% guaranteed pay rise across the board over three years, according to a statement published by the Finance Sector Union on August 19.
Under the new agreement, InTech Credit Union will also join a growing number of employers in the industry to include Domestic Violence Leave provisions in their agreement with workers.
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