Pay 2018: Pay Claim

Pay 2018 Campaign Archive

NatWest Group, then known as RBS Group, was severely impacted by the 2008 global financial crisis. Between 2008 and 2016, the bank reported substantial losses including a high of £24.1 billion in 2008. As a direct result of this, pay stagnated, as it often does in loss-making companies. In attempts to save the company, RBS made severe cuts in many areas of the organisation and sold off portions of the business.

In 2017 the bank posted a modest profit and in 2018 would pay its first shareholder dividend since the global crisis. Negotiations for Pay 2018 took place in late 2017 (prior to that first profit being reported). At that stage, the bank’s narrative was that they were still majority owned by the tax payer, that profitability was by no means consistent nor did it off-set previous losses, and that shareholders had been patient for almost a decade so deserved to be rewarded before employees.

Our pay claim for Pay 2018 was published to members in October 2017.

RBS Pay 2018: Your ‘fair pay’ claim launched

  • Union demands a significant pay increase for ALL colleagues.
  • Unite members back a call for ‘across the board’ pay rises.
  • Claim seeks to improve wages to meet rising living costs.

The Unite claim

Union negotiators met with representatives of RBS and tabled the following claim on behalf of all bank employees:

  • An increase of £25 per week or 5% whichever is the greater – (pro rata for part-time employees).
  • Increases to apply to all staff irrespective of position in range or performance rating.
  • Underpin designed to support low paid staff and provide real-term increases for long-serving employees.

The Unite claim has taken into account labour market conditions, economic trends and social factors, the productivity and profitability of the bank and the detailed feedback received from union members via our survey.

In making this claim, the union also seeks to start to address the polarisation of pay across our industry and the continued divergence of the elite few at the top from the rest of those employed within the finance sector.

Unite survey

Ahead of this year’s pay negotiations we asked members to send us their views on a range of issues through an online survey.

Colleagues feel that despite contributing so much to the recovery of the bank in recent years, pay rises on the whole have not been reflective of that contribution.

The survey results show that members demand change

Members want a pay rise that takes into account the below-inflation pay rises of recent years.

Performance management related pay rises do not motivate – Unite members want to see the existing performance management system replaced and for pay rises to be implemented across the board.

More than half of colleagues who responded to the survey said that they were having difficulty ‘managing’ their current financial situation.

Employees clearly feel they deserve a better overall reward package.

Unite comment

One year’s pay round is not going to restore confidence in pay or redress imbalances, but it would clearly be a step in the right direction.

There is no doubt that Unite members have contributed to the re-building of RBS and at the same time they have had to endure much of the country’s ire at the failures of Britain’s banks over recent years – yet they persevere.

Unite contends that it is right that the company should offer their workforce a fair reward for their ongoing hard work and commitment.  

Negotiations with RBS will take place over the next few months and members will be provided with regular updates.

Get involved – Support the Campaign on Pay 2018

If you would like to support the campaign for a fair pay award please do not hesitate to contact Unite at rbsinfo@unitetheunion.org.

Unite representatives

The union is always seeking members to take on one of the four Unite Representative Roles i.e. Workplace, Union Learning, Safety and Equality.  If Unite members are interested in finding out more about becoming a Unite Representative please contact the Unite RBS Helpline or e-mail rbsinfo@unitetheunion.org.

Unite RBS Updates & Update Your Details

If you would like to receive regular updates electronically from the union and have not already advised us, please email from your preferred email address to rbsinfo@unitetheunion.org.  It is also important that members ensure that their membership details are up to date and accurate (e.g. home address, work address, whether you are full time or part time, etc.).  If you believe that your membership details are out of date, please also email the above address or alternatively you can contact your local union office or logging onto ‘My Unite’ at the website www.unitetheunion.org where you can update your own details.

Not a member?

RBS employees who are not already members of Unite are urged to join the trade union now. Join Unite’s 1.4 million members and have a voice on this and other issues, as well as receiving support, advice and representation.  Membership forms can be obtained by emailing rbsinfo@unitetheunion.org plus you can join online at www.unitetheunion.org.

Further Reading

  • Our next update told members that the bank decided to remove bonus payments for appointed members of staff immediately prior to pay negotiations.
  • The next Pay 2018 newsletter was an update on pay negotiations published in December 2017.