Salary structure changes in TSB
Today TSB announced changes to how individual salaries will be managed in the future.
The announcement follows extensive discussions between Accord & Unite and TSB.
Accord has been trying to make progress for a long time on two key problems with the current approach to salary management:
- The lack of opportunity for individual employees to move up the pay scale for their grade and role.
- Long serving staff with salaries above grade mid-points who can’t increase their salaries within their grades and roles and get lower percentage pay rises than others in the annual review each April.
The changes simplify salary structures and give staff opportunities to ask for salary adjustments as skills and accountabilities increase.
This less rigid and formulaic approach is, TSB believes, more appropriate for the size and culture of the bank.
We’re keen to grasp the opportunities but, at the same time, have concerns about fairness and transparency. So, here’s some key re-assurances for staff:
- There will still be formal annual reviews for everybody in April with the unions seeking the best possible outcome for all members reflecting increases in the cost of living and the bank’s ability to pay.
- We will have access to data regularly to check that the pay increases awarded through the new approach are not biased by gender, working hours, ethnicity, disability or any other protected characteristics. We will also be asking the bank to prove that there is no discrimination or bias based on business function / area or geography.
- We will support any Accord member who applies for an increase and feels that their request is unfairly or unreasonably refused.
- Today’s news is only the start, our discussions with TSB will continue and we’ll take forward members’ feedback or concerns.
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There's a lot for staff in TSB to think about but we're here for our members' thoughts and feedback.
Any queries should be referred to: [email protected]