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03 November 2023

2024/25 LBG pay ballot analysis

The main headlines
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Pay 2024/25 pay ballot analysis - the main headlines

We’ve carried out some further analysis on how members voted in our ballot on LBG’s pay offer for 2024 and 2025

The main headlines are:

Of those who voted ‘No’, the most common concerns related to inflation and the cost of living and unhappiness at a two-year deal.

View analysis presentation slides

Next steps

The pay proposals apply to around 67,000 employees throughout Lloyds Banking Group; in virtually every role in every business area in the Group. This broad approach couldn’t pick up the pay concerns of individuals or issues in specific businesses (such as, but by no means limited to, branch roles). But we have been listening to members about their detailed concerns and we’ll be working hard to find ways of addressing them after the pay agreement has been signed. We acknowledge that some of the issues have been outstanding for a long time.

Any queries should be sent to [email protected]

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