News Summary: Santander Final Pay Offer Out to Ballot with Strong Vote 'Yes' Recommendation

Santander UK's employees, represented by the Communications Workers Union (CWU), are being urged to accept a new pay deal. The proposal includes an average total pay increase exceeding 6% for the majority of grade employees. This one-year simplified agreement emerged from intensive talks before Christmas and is now subject to a consultative ballot starting January 15, 2024.

Key features of the offer include a minimum pay award of 4.5% or £1,300 (pro-rata for part-timers) for all S1-2 grade employees. Most members will see rises averaging 8.5% and 6.1% respectively, effective March 1, assuming ratification. Additionally, there's a one-off cash lump sum of £450 for S1s, £400 for S2s, and £300 for S3s, S4s, and S5s, payable in February. This payment is not pro-rated, benefiting part-time employees equally.

The package also includes a new minimum entry-level salary of £22,400 (up 5.7%) and increases in pay range midpoints by 5% and 4% for S1 and S2 grades, respectively. In a sector where performance-related rises are common, this deal is not performance-based, except for those with a 2023 performance rating of 'Not Achieved', who still qualify for the lump sum payment.

Other highlights include enhanced paternity and adoption leave policies and an additional day's leave in 2024 for all S1-S5 colleagues. The CWU TFS Executive member Gordon Johnston and the Santander National Committee regard this as a strong final offer that fairly recognizes members' contributions and addresses cost-of-living challenges.

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