The complexity and opacity have been exacerbated by the threat of disciplinary action from the bank when workers discuss among themselves their pay or IFA, an individual agreement, which was seen by the Financial Review, making you a “condition of your employment that you do not discuss these issues”. The verification consists of determining whether the applicable rights have been duly granted to the workers. It also includes an assessment of the income paid to employees in relation to the distinctions of the companies and branches concerned, using their actual ways of working. Information and instruments are available on the Commission`s website to support the conclusion of an agreement. Visit an agreement for more details. However, the bank failed to properly ensure that the salaries of some IFAs were better off than the company agreement between 2010 and 2019, by not taking into account actual working hours or ensuring that wages were in line with EA`s guaranteed wage increases. Start by going to our document search and trying to search for a full text for agreements. The Bank has nearly 15,000 employees with Individual Flexibility Agreements (IFAs), far more than any employer, under agreements that remove mandatory days off, overtime pay, annual leave load, guaranteed wage increases, maximum hours and other rights to company agreements in exchange for higher pay and bonuses. “The company agreement was never offered, it was literally just the individual agreement,” said an employee of the bank`s division. “Vace ed. Push, push, push the individual deal, otherwise you will have a pittance wage paid,” she said. Fair Work Commission publishes company agreements on this website.
The employees said, when they tried to terminate their IFA and switch to the company agreement, the bank told them they would be put on the EA minimum rate for their classification, although it had the option to pay a higher rate. If a job has a registered agreement, the bonus does not apply. However, registered agreements are valid until terminated or replaced. Over the past decade, Commonwealth Bank has made extensive use of individual agreements to exclude its employees from a large number of conditions in union collective agreements, resulting in multi-million euro underpayments.