The bitter feud between Westpac and the Finance Sector Union has reached a decisive moment, with around 25,000 staff set to vote on a proposed enterprise deal advanced by the bank.
Westpac employees across the country will this morning begin voting on the bank’s pay offer which, if approved, would deliver a 2023 rise of 4 per cent to staff earning up to $$94,550 and a 3.5 per cent increase for those on salaries up to $118,000.
Staff are also in line to receive a one-off cash payment of $1000 if the bank’s proposal secures majority support.
The bank last month abandoned pay talks with the union, revealing in a memo to its workforce that it would be taking its offer to a direct ballot without FSU support.
Voting on the proposal is expected to run until the close of business on Tuesday 1 November.
The FSU is mounting an aggressive campaign against Westpac’s offer, arguing in flyers circulated to staff in recent weeks that its rejection would force the bank back to the bargaining table with the prospect of better pay and conditions being negotiated.
“We will being the strongest possible position to secure real improvement on base salary for all staff without loss of conditions,” FSU national secretary, Julia Angrisano says in one of the flyers.
“Management cannot ignore the clear mandate that staff will have provided by rejecting their pay cut agenda.
“We will demand that management return to the bargaining table immediately.”
While the bank said in the staff memo last month that it respected the union’s position, it argued that its offer struck the right balance.
“Something we’re proud of at Westpac is making balanced, sustainable decisions that consider the needs of our people and the business,” the bank told staff.
“We’ve worked hard to add to your current benefits and made sure there’s something new for everyone.”
The union is agitating for 6 per cent pay rises across the banking sector and is also demanding that the bank acknowledge its claim that staff workloads are excessive.
In the union flyer, Angrisano describes the bank’s one-off $1000 payment as a “cash bribe for a dodgy deal”.
“This means no ongoing contributions to superannuation and denies staff future pay increases calculated on a higher base,” she said.
“A big saving for the bank.”