New pay system a step backwards for ANZ Australia

Looking backwardsWestpac and IAG workers might find this pay system in Australia looks eerily familiar. ANZ Australia has removed its across the board pay increases for all workers so that now all the focus is on performance pay. ANZ Australia workers will find that their pay increase in October will depend on the rating that they are given and their current salary. Ratings will unsurprisingly be dependent on reaching targets, which will be set without consultation and without proper reference to local variables. In some cases they are just not achievable.

The Australian Finance Sector Union (FSU) is also concerned about the new link between behaviours and pay increases. The behaviours ratings “A, B or C” are sometimes used by managers to express a dislike of a staff member. Now people marked “C”, as well as facing performance management, will lose half the “across-the-board” pay increase.

(Thanks to TKnoxB for the photo)

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