Following what the CWU communications union called ‘marathon set of lock-down talks’ a three year agreement has been signed with banking and finance group Santander that institutes transparent pay progression for all of its 25,000 staff.
The agreement extends automatic annual pay progression to previously excluded staff, raises the possibility of staff receiving incremental increases when their performance has been rated ‘below satisfactory’ by extending the length of time they can take to reach their maximum grade, and, for the duration of the three-year deal, and suspends the link between individuals’ base pay awards and performance.
The new pay progression arrangements give average overall rises of more than 4% for those earn
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