Latest LTU News http://www.ltu.co.uk/index.php The latest news from Lloyds Trade Union. en-us Critical Advice on Flexible Resourcing http://www.protectourpensions.co.uk/ltutest_site//blog-203-critical-advice-on-flexible-resourcing When the Judge who ruled in our favour on the ‘Non-Signer’ Employment Tribunal case gave his Judgement, he drew attention to an extract from a report given to Lloyds Bank’s GEC in 2009, just before the Bank began the process of harmonisation of contracts across Lloyds Banking Group. The report said:

“The recession, on top of integration, means that colleagues will be most concerned about staying in employment and potentially less concerned than normal about the employment proposition.”

In other words, because people are worried about job security given the merger and recession, we’ll get away with forcing through contract and other changes that ordinarily staff wouldn’t accept.

Download Newsletter

]]>
Mon, 20 Feb 2017 19:28:16 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-203-critical-advice-on-flexible-resourcing
Flexible Resourcing - Act Now http://www.protectourpensions.co.uk/ltutest_site//blog-202-flexible-resourcing--act-now Have you ever heard of ‘Salami Negotiation’? It’s an approach used by negotiators to achieve a particular objective, which likens the process to slicing a Salami sausage. The idea is that Salami is eaten in thin slices, which combined add up to a full portion. What would be indigestible in one lump is more palatable in small slices.

In business, firms make smaller changes one at a time, which eventually amount to very substantial change that would have been rejected if presented in one go.

Download Newsletter

]]>
Mon, 13 Feb 2017 16:00:05 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-202-flexible-resourcing--act-now
Flexible Resourcing - What’s It Going To Cost You? http://www.protectourpensions.co.uk/ltutest_site//blog-201-flexible-resourcing--what’s-it-going-to-cost-you? In a perverse twist on the traditional tale of Robin Hood, Mr Bulloch and his band of merry men are apparently embarking on a plan to rob from the poor and give to the rich.

Looking at the guidance given to managers in the recent Flexible Resourcing pilots, the Bank said “more flexible approaches to managing and resourcing our branches locally will help us become more agile, effective and efficient”.

Download Newsletter

]]>
Fri, 10 Feb 2017 10:58:22 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-201-flexible-resourcing--what’s-it-going-to-cost-you?
Data Centres Going To IBM? http://www.protectourpensions.co.uk/ltutest_site//blog-200-data-centres-going-to-ibm? Lloyds Banking Group is on the verge of signing an agreement with IBM to outsource its Data Centres.

We understand that Jacqueline Guichelaar, CIO of infrastructure and Technology services at Lloyds, is desperate to push ahead in outsourcing these critical services to IBM. These crucial systems underpin the Bank’s major Payment, Treasury Trading, Settlement and Digital Services; which means the Bank would be handing over its Crown Jewels to a third party to support and manage! Lloyds is pushing very hard for this deal to be signed within the next few weeks.

Download Newsletter

]]>
Fri, 03 Feb 2017 16:05:11 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-200-data-centres-going-to-ibm?
LTU Ratings Advice http://www.protectourpensions.co.uk/ltutest_site//blog-199-ltu-ratings-advice Line Managers will shortly begin to arrange 1-to-1 meetings to communicate end-of-year ratings and to discuss overall performance feedback for the year. Those meetings should be completed by the end of January.

The end-of-year ratings staff will receive over the next few weeks will determine the level of pay increases and bonus payments they receive over the coming months.

Download Newsletter

]]>
Mon, 23 Jan 2017 18:23:01 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-199-ltu-ratings-advice
8% Pay Increase For GCE http://www.protectourpensions.co.uk/ltutest_site//blog-198-8%-pay-increase-for-gce The average pay increase for staff this year will be 2%. Antonio Horta-Osorio, the Group Chief Executive of Lloyds Banking Group, will get a whopping 8% pay increase bringing his basic salary up to £1,220 million.

As part of a two-year pay deal, the Group Chief Executive of Lloyds Banking Group, who is currently hobnobbing with world leaders and Shakira at the World Economic Forum in Davos, described by one wag as: “the place where the people who spend all year causing all our problems take a few days pretending to try and fix them”, got a 6% pay increase last year and is set to get an 8% pay increase in 2017. Following agreement by the Bank’s Remuneration Committee, the GCE’s basic salary will have increased from £1,061,000 to £1,220,00, or 14%, in the space of two years. And I’m not going to mention his two pensions!

Download Newsletter

]]>
Fri, 20 Jan 2017 11:01:02 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-198-8%-pay-increase-for-gce
CSA “Flexible Resourcing” http://www.protectourpensions.co.uk/ltutest_site//blog-197-csa-“flexible-resourcing” In what it describes as a ‘handout’, Lloyds tells staff that:

1. They will have one-to-one meetings with their line managers to help the Bank “understand their individual circumstances and any flexibility they are able to offer in terms of working patterns and/or location.”

2. Any changes to working patterns or working location the Bank wants to make “will be achieved in full discussion with colleagues and by mutual agreement wherever possible. Where mutual agreement cannot be achieved an independent review panel has been set up to ensure that the business request of the colleague is reasonable taking into account the colleague’s individual circumstances.”

Learning from Experience

In 2010, when Lloyds moved to impose contract changes it sought to reassure staff that it would put in place safeguards to make allowances for individual circumstances. The assurances the Bank is giving now are more or less what it said then.

Download Newsletter

]]>
Thu, 19 Jan 2017 15:18:10 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-197-csa-“flexible-resourcing”
TUPE Transfer To Equiniti http://www.protectourpensions.co.uk/ltutest_site//blog-196-tupe-transfer-to-equiniti The announcement before the Christmas break of the TUPE-transfer terms that would apply to staff being transferred from Lloyds Estates Administration Services to Equiniti is causing much resentment and is a major concern for all affected staff; both in respect of their immediate and future prospects.

We understand that the Bank has ‘agreed’ the transfer terms with its two weak, HR-approved unions - Accord and Unite - who we believe have no members amongst the 42 staff affected.

Download Newsletter

]]>
Mon, 16 Jan 2017 20:38:50 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-196-tupe-transfer-to-equiniti
Much Ado... About Nothing http://www.protectourpensions.co.uk/ltutest_site//blog-195-much-ado-about-nothing The juxtaposition in treatment couldn’t be any more telling. Just before Christmas, the Bank published the latest details of Antonio Horta-Osorio’s 4% additional increase in base pay, which is delivered in a tranche of monthly shares.

Fast forward a few weeks and the Bank has announced today, with the tacit agreement of the HR approved staff unions, a pay pot of just 2%. And’s that at a time when all commentators are predicting that inflation is going to increase significantly over the next few months.

Download Newsletter

]]>
Tue, 10 Jan 2017 20:38:09 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-195-much-ado-about-nothing
Rush To Cash In Pensions? http://www.protectourpensions.co.uk/ltutest_site//blog-194-rush-to-cash-in-pensions? It seems that the new Administrator of the Bank’s Pension Schemes is getting the kind of bad reputation that Equiniti took years to acquire through under investment in the business. 

Members who are considering cashing in their final salary pensions, and we understand the numbers asking for transfer valuation quotes has increased significantly over the last few months, are being told they must wait up to 6 weeks to get the pensions opt out form.

Download Newsletter

]]>
Mon, 09 Jan 2017 09:58:44 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-194-rush-to-cash-in-pensions?
A Christmas Carol In Prose http://www.protectourpensions.co.uk/ltutest_site//blog-193-a-christmas-carol-in-prose A Christmas Carol by Charles Dickens is one of those popular stories - having never been out of print - you read to your children at Christmas because of its irresistible appeal against meanness of spirit and the power of redemption. And in the chaotic world we live in these themes that are just as powerful today as they were back in 1843 when the book was first published.

However, it would seem that the Christmas spirit hasn’t percolated to every corner of the Bank. In the Pendeford Call Centre for example, and we’ve seen similar reports from members in other business units, the Bank has decided to close the office 4 hours early on Christmas Eve. Excellent news you would think - staff can have time with their families and friends. But, and there always is a “but”, staff who are scheduled to work that day have been told they must make up the 4 hours they haven’t worked in the New Year. Penderford’s Senior Management conveniently forgets the fact that many of those staff will have worked a lot more than 4 hours in the form of unpaid overtime throughout 2016. And let’s not forget, the Bank decided to close the business early, not the staff. It seems that the Senior Management team are determined to extract every ounce of surplus value from staff.

Download Newsletter

]]>
Thu, 22 Dec 2016 21:16:10 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-193-a-christmas-carol-in-prose
Accord’s Black Wednesday http://www.protectourpensions.co.uk/ltutest_site//blog-192-accord’s-black-wednesday The Bank and the smaller HR approved unions - Accord and Unite, have agreed to the introduction of a new Retail Variable Pay Plan (RVPP).

Details of the Bank’s proposals are as follows: 

  • From 1st January 2017 all staff who are on the Variable Pay Scheme will move to the new RVPP. Award payments under the new scheme will be based on a fixed percentage of salary and will be paid annually like the Group’s Annual Bonus Plan. 
  • Base salaries will be increased for those staff who will see their total earnings (Base + Variable) reduced as a result of the introduction of the new RVPP.

Download Newsletter

]]>
Wed, 14 Dec 2016 13:02:05 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-192-accord’s-black-wednesday
Accord’s Black Tuesday http://www.protectourpensions.co.uk/ltutest_site//blog-191-accord’s-black-tuesday We are living in strange times. Recently we had the grotesque spectacle of the General Secretary of Accord, which claims to be independent trade union, joining a Bank run teleconference trying to sell an unpalatable package of changes to the Connect Unsocial Hours Payment Scheme which is going to see 1,200 HBoS heritage staff losing significant amounts of money, with some losing over £900 a year.

Download Newsletter

]]>
Thu, 01 Dec 2016 20:50:26 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-191-accord’s-black-tuesday
Your Performance - LTU Advice http://www.protectourpensions.co.uk/ltutest_site//blog-190-your-performance--ltu-advice As we approach the end of 2016, LTU receives hundreds of requests from members for advice and guidance on end-of-year reviews. It is important that members update their balanced scorecards so that their Line Managers are aware of how they have performed against each of their objectives since the half-year reviews.

Download Newsletter

]]>
Wed, 30 Nov 2016 19:21:40 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-190-your-performance--ltu-advice
LTU’s Legal Case Going To The High Court http://www.protectourpensions.co.uk/ltutest_site//blog-189-ltu’s-legal-case-going-to-the-high-court The Bank, the Trustee Board and LTU have agreed jointly to refer the Union’s landmark legal action on Guaranteed Minimum Pensions (GMPs) to the High Court. Given what’s gone on over the past 18 months that’s not a sentence I expected to write.

Download Newsletter

]]>
Thu, 24 Nov 2016 19:17:07 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-189-ltu’s-legal-case-going-to-the-high-court
Employment Tribunal Case http://www.protectourpensions.co.uk/ltutest_site//blog-188-employment-tribunal-case Most members will not be very interested in management literature but those who are will be aware of the ongoing questions of whether managers need to be leaders and whether leaders make good managers.

Gripped by the idea that they have to be seen to be leaders, many top managers now seem to spend material amounts of their time (or that of people who do the writing for them) using Twitter or Blogs. The fact that most of their employees have no interest in what they did last weekend and can see through spin in seconds, seems to have eluded them.

Download Newsletter

]]>
Tue, 15 Nov 2016 20:59:51 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-188-employment-tribunal-case
It’s Inflation, Stupid http://www.protectourpensions.co.uk/ltutest_site//blog-187-it’s-inflation-stupid The 2017 pay negotiations will take place against a dramatic rise in inflation with the Bank of England forecasting that the Consumer Price Index (CPI) will rise to 2.7% next year, up from the current rate of 1%. The National Institute of Economic and Social Research says that CPI will peak at around 4% towards the end of 2017. And those are the CPI forecasts. The inflation figure we are interested in, is the Retail Price Index (RPI) because that figure takes into account housing costs which for most members is the biggest outgoing every month. Historically RPI has been higher than CPI because of the different ways in which they are aggregated, the formula effect, and forecasters are predicting RPI rising to between 3.5% and 4.5% for 2017.

Download Newsletter

]]>
Mon, 14 Nov 2016 21:26:11 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-187-it’s-inflation-stupid
More of the Same http://www.protectourpensions.co.uk/ltutest_site//blog-186-more-of-the-same As we predicted, the Bank tried to bury another round of redundancies and branch closures, with the full support of Accord and Unite, when the eyes of the world including many of its own staff were focused on the results of the US Presidential election.

But why would the Bank announce a further series of job cuts only weeks after its last announcement. Common sense, not a virtue one would always associate with the Bank’s senior management team, says that you get all the bad news out of the way in one go. Unless of course, the second announcement was a knee-jerk reaction to a set of business results which received a lukewarm response in the markets. Q3 profits before tax dropped by 15%. Underlying profits, stripping out one-off items such as PPI provision, also dropped by 3%. The Bank was accused of an accounting slight of hand, reclassifying the way it held £20bn worth of gilts, in order to secure future dividend payments. One analyst said “When a bank resorts to stuff like this you know they are definitely reaching down the back of the sofa”.

Download Newsletter

]]>
Thu, 10 Nov 2016 13:49:50 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-186-more-of-the-same
The Tao of Mike http://www.protectourpensions.co.uk/ltutest_site//blog-185-the-tao-of-mike In seeking to differentiate between individual and generic sales targets the Mortgage Director is flying so close to the Sun he invites the fate of Icarus.

In a direct response to the Union’s last Newsletter on Mortgages, Mike Songer Mortgage Director, Lloyds Bank has issued a video followed by a written message to the whole of the mortgage business dealing with the issue of sales targets. It’s good the Bank is responding to our concerns in such a direct way.

Download Newsletter

]]>
Tue, 08 Nov 2016 10:18:04 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-185-the-tao-of-mike
Commercial Banking Survey - Sales & Regulatory Pressures http://www.protectourpensions.co.uk/ltutest_site//blog-184-commercial-banking-survey--sales-regulatory-pressures In our previous Newsletters on the results of LTU’s Commercial Banking Survey we focused on work and well-being and on performance management and pay.

To recap, some of the key results from the survey so far are as follows: 

  • 63% of members said that the demands the Bank places on them are unrealistic. 
  • 72% said they struggled to deal wit their daily workload. 
  • 90% of staff said agreed that “long working hours are an integral part of the culture in Commercial banking”.

Download Newsletter

]]>
Wed, 02 Nov 2016 12:05:06 +0000 http://www.protectourpensions.co.uk/ltutest_site//blog-184-commercial-banking-survey--sales-regulatory-pressures
Mortgaging The Future http://www.protectourpensions.co.uk/ltutest_site//blog-183-mortgaging-the-future Following our last Newsletter on CSAs opening savings accounts, Robin Bulloch, Managing Director of Lloyds Community Bank, said that savings accreditation was optional and CSAs should not be forced to do the courses if they didn’t want to. He said the Bank’s objective was for 25% of CSAs to be savings accredited and that had already been achieved. According to Mr Bulloch those LDs who were saying that all CSAs had to be trained, like the one we reported on, were misrepresenting the Bank’s position.

Download Newsletter

]]>
Fri, 21 Oct 2016 15:26:01 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-183-mortgaging-the-future
LBG Job Losses http://www.protectourpensions.co.uk/ltutest_site//blog-182-lbg-job-losses Group IT announced 263 net redundancies. We are aware that some members went through the stresses and pressures of the selection process following the announcement of job losses in June this year only to be told in September that they had secured a role. A few weeks later many of those same staff and their families have now been told that they must go through the whole process again and spend the next few months waiting to find out whether they have got a job or not. That’s the human cost of the Bank’s drip, drip, drip approach to dealing with redundancies.

Download Newsletter

]]>
Tue, 18 Oct 2016 12:38:22 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-182-lbg-job-losses
Advice In A Digital World http://www.protectourpensions.co.uk/ltutest_site//blog-181-advice-in-a-digital-world Earlier this year Wealth Management PBAMs took part in a Time Spend and Activity Survey produced by Finalta, the benchmarking consultancy. The results of that survey will be published in the next few weeks but what it will show is that whilst the amount of time PBAMs spend travelling to see customers and writing up reports has reduced, these two activities still account for a significant part of the ‘typical’ working day. Furthermore, the report will show, assuming the Bank publish the full report and not just edited highlights, that best in class organisation both in the UK and Europe are adapting more quickly to the changing economics of wealth management. The Finalta report will be the evidence the Bank needs to begin the process of changing the business the fundamentally.

Download Newsletter

]]>
Sat, 15 Oct 2016 13:06:17 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-181-advice-in-a-digital-world
Job Losses in LBG http://www.protectourpensions.co.uk/ltutest_site//blog-180-job-losses-in-lbg Today the Lloyds Community Bank has announced that it will be making job reductions in the CSA, PBA, BM, MAPA and LMM populations.

The redundancies announced today are part of the 9,000 job reductions announced by the Bank a number of years ago. Similar announcements of job reductions are being made across the Bank today and those will be covered in separate Newsletters.

Download Newsletter

]]>
Wed, 12 Oct 2016 11:11:38 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-180-job-losses-in-lbg
Gender Pay Gaps In LBG http://www.protectourpensions.co.uk/ltutest_site//blog-179-gender-pay-gaps-in-lbg Very soon the Bank, like all employers with over 250 or more employees, will be required to report their gender pay gap (GPG). This new reporting mechanism may look like just another compliance/regulatory challenge but it will shine a powerful light on what’s going on when it comes to pay and bonuses for men and women not just in Lloyds Banking Group, but across the whole economy.

Download Newsletter

]]>
Thu, 29 Sep 2016 19:46:17 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-179-gender-pay-gaps-in-lbg
Employment Tribunal Victory http://www.protectourpensions.co.uk/ltutest_site//blog-178-employment-tribunal-victory LTU has won an important Employment Tribunal case for a member sacked by Lloyds Bank. In giving his judgement on the case the Judge has been highly critical of the way Lloyds handled the case and of the dismissal itself.

All members should spend the time reading what happened because the case demonstrates very clearly how companies fail to deal fairly with alleged disciplinary issues; how many of those involved in disciplinary cases lack the independence to make fair decisions and how faceless HR officials often guide hearing managers to reach the decisions HR and more senior line managers want made.

Download Newsletter

]]>
Mon, 26 Sep 2016 08:21:58 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-178-employment-tribunal-victory
Multi-Skilling or Else! http://www.protectourpensions.co.uk/ltutest_site//blog-177-multi-skilling-or-else In our last Newsletter we said that CSAs were increasingly taking on more responsibilities with them averaging some 1,300 savings interview per week. The Bank has made it clear that in the branch of the future, and let’s be clear at the rate branches are being closed there won’t be that many left, those staff that remain will have to be multi-skilled in a range of different activities. We understand that and so do those CSAs who have taken up the opportunity to extend their skill set to include opening savings accounts. One of our concerns is around how staff will be paid in this new world and what we wouldn’t want to see is staff being expected to do more but being paid the same.

Download Newsletter

]]>
Tue, 20 Sep 2016 11:57:34 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-177-multi-skilling-or-else
BM Survey Results - 2 http://www.protectourpensions.co.uk/ltutest_site//blog-176-bm-survey-results--2 One of the key issues raised by Bank Managers in our recent survey was staffing level shortages and the fact that increasingly many of them were spending more time on the counter and less time dealing with their own customers or coaching staff.

We asked Bank Managers to tell us how much time they spent on key activities during a typical 35-hour week. The results of our analysis are set out below and show that instead of speaking to their customers or spending time with staff on development activities, all of which will benefit the Bank, Bank Managers are spending most of their time filling in paperwork and plugging gaps because of staff shortages. We had a number of Bank Managers who were spending between 15 and 20 hours a week on the counter serving customers. That’s not sustainable in the long term. The amount of unnecessary paperwork that forms part of the Colleague Framework has also come in for much criticism.

Download Newsletter

]]>
Thu, 15 Sep 2016 11:05:56 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-176-bm-survey-results--2
Legal History http://www.protectourpensions.co.uk/ltutest_site//blog-175-legal-history The stakes couldn’t get much bigger. If our landmark legal action, which was covered widely in the national press, is successful then not only will up to 165,000 female members of the Bank’s defined benefit pension schemes be entitled to pension increases but some 5 million women across 2,400 contracted-out pension schemes will also be entitled to increased pension payments. The cost of Guaranteed Minimum Pension (GMP) equalisation will be between £13-£20bn.

Download Newsletter

]]>
Tue, 13 Sep 2016 10:35:26 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-175-legal-history
Commercial Banking Survey - Performance Management & Pay http://www.protectourpensions.co.uk/ltutest_site//blog-174-commercial-banking-survey--performance-management-pay Our previous Newsletter on the results of LTU’s Commercial Banking Survey, reported on members’ concerns about the excessive pressures and very long hours many staff feel obliged to work and the effects this is having on their health and wellbeing.

Download Newsletter

]]>
Fri, 02 Sep 2016 12:04:16 +0100 http://www.protectourpensions.co.uk/ltutest_site//blog-174-commercial-banking-survey--performance-management-pay