Good news on pay ranges ahead of 2024 Pay Review in LBG
Last November, 87% of Accord members voted in favour of the proposals for the 2023 Pay Review in a record turnout in our ballot.
One of the features of the 2023 settlement which took effect on 1 April was consolidation from 1 July of Flex Allowances and, for staff in grades D and above in standard and enhanced Group Performance Share (GPS) Schemes, a permanent pay increase of either 5% (Grade D) or 10% (Grade E-G) in exchange for revised GPS opportunities in the future.
Some members expressed concern at the time that the consolidations would position their salaries higher in their pay ranges and potentially reduce future pay increases (assuming pay increases are distributed relative to individuals’ position in their pay ranges).
We’re very pleased that, following engagement with Accord and Unite, LBG has confirmed today increases in the pay ranges and/or amendments to the pay zones within ranges (the zones are ‘market primary’, ‘market’ and ‘market plus’) which take effect on 1 July.
Around 6,000 staff will be lower in their pay ranges providing ‘headroom’ for future increases and some members will also have salary increases to bring them to their new grade minima. However, more staff will be in their ‘market’ zone with 11% less in ‘market primary’ and 9% less in ‘market plus’.
Overall, this is good news and another example of the unions working with LBG to jointly deliver positive outcomes.
As always, there’s more to do. We have yet to make progress on the outstanding issues we identified at the end of last year’s ballot when we said:
- The union is keen to complete the review of roles in grades A & B as originally agreed in the 2019 pay agreement.
- The remuneration for branch managers, team leaders and some other roles in grade C also needs to be looked at in more detail.
And, of course, the cost-of-living crisis isn’t over. The rate at which prices are rising is starting to slow down but prices are still going up in the main and interest rates have increased again too.
We think that staff, particularly the lower paid, will need more support from their employer before the April 2024 Pay Review and we’ll be taking this up with LBG very soon.
Any queries or comments should be sent to: [email protected]
