02 Sep 2016

NAB reaches endorsement for 2016 Enterprise Agreement

NAB employees have voted in favour of the 2016 Enterprise Agreement with more than 87 per cent of votes opting to remove performance based pay for some employee groups, and strengthen parental and preventative health leave requirements.

NAB’s Executive General Manager of Performance and Reward, Lynda Dean said that this is a pleasing endorsement by employees to continue to make NAB a better place to work.

“This Enterprise Agreement will support our 35,000 Australian employees to deliver an even greater service to our customers,” Ms Dean said.

Key aspects of the new Agreement include:

  • the removal of performance based pay for Groups 1 and 2 employees;
  • employees will no-longer be required to work for 12 months to be eligible for unpaid parental leave;
  • formalising that non-birth parents who are the primary carer are able to take paid parental leave;
  • automatic eligibility for employees to receive 24 months parental leave;
  • introduction of preventative health leave so that employees can use two days sick leave per annum for planned health appointments;
  • group 1 and 2 employees (predominately customer service and support employees) to receive a 3 per cent pay increase from 1 January 2017 and for each year of the life of the agreement, provided they meet conduct requirements; and
  • increasing the maximum period of service recognised for calculating retrenchment payments from 30 to 35 years.

Ms Dean said the NAB Enterprise Agreement reflects NAB’s focus on doing the right thing by our customers.

“To do this, we have removed performance based pay for Group 1 and 2 employees, whilst maintaining our focus on appropriate conduct,” Ms Dean said.

“NAB supports the ABA’s independent review of product sales commissions and product-based payments and we’ll continue to consult with the FSU in relation to the implementation of the outcomes,” Ms Dean said.

Following Fair Work Commission approval, the new Agreement will take effect a week after it is secured, and will be in place until 2019.

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