11 January 2019: Group Transformation Pay Groups
LBG’s Group Transformation division has confirmed today that it has concluded a pay market review and will be aligning colleagues in the division to what it believes to be the most appropriate Pay Group.
As a result of the review, it has determined that the default mapping for Group Transformation will be Pay Group 3 (National) and Pay Group 5 (London).
The division has also identified a number of roles that it considers to require specialist skills or knowledge – these will be aligned to specialist Pay Groups. However, the Pay Groups won’t be confirmed for individuals until selection outcomes are communicated at the end of February. (There are a few exceptions including grade Gs, Commercial Banking grade A-Fs and Human Centred Design.)
A number of principles will apply:
- There will be no reductions in salaries
- If an individual’s salary is below the minimum of the new Pay Group, there will be a ‘bring to minimum’ increase applied
- For some individuals, being placed in a lower Pay Group will increase their salary expressed as a percentage of the new Pay Range grade mid-point. This may impact on salary increases in the 2019 Pay Review.
Clearly, this is the starting point for the new division and the approach to pay and reward may change over time but any initial feedback should be directed to email@example.com