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National Australia Group: all-merit rises
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Key details
Pay award: merit
rises from 4% pot
Employees covered
(nos.): staff and managers (12,000)
Effective date: 1 January 2004
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National Australia
Group Europe has awarded its employees all-merit rises from a 4% pay pot, effective from January 2004, in
agreement with banking unions Unifi and IBOA.
Individual employees received awards ranging from nil to 10%. The company's pay
matrix is based on individuals' position relative to the salary midpoint, along with a performance scale that ranges from
one ("consistently exceeds all requirements") to five ("does not meet
standards").
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