Newsletters From BTU
Severance Terms & The JV
Given the precarious nature of the financial advice business and the growth model proposed by Lloyds Banking Group for the new Joint Venture, the legal status of the Lloyds Bank enhanced severance terms and job security policy is extremely important. The issue is a...
Pensions Discrimination Victory In Offshore Banking
Following the Union’s campaign, the Trustee of the Lloyds Bank Offshore Pension Scheme and the Bank have said that they will be treating men and women in exactly the same way when dealing with the State Pension Deduction. Members will recall that in a previous...
Worst Scores Ever?
In a previous Newsletter we reported that the Bank had sought to influence the results of the 2018 Colleague Engagement Survey by waiting to announce the withdrawal of the Concessionary Mortgage schemes until after the survey closed on 6th October. However, the...
‘Your Best’…………Is it Good Enough
In our last Newsletter we said that the Bank would be announcing a new approach to performance management, which would see the introduction of ‘catch-ups’ and the removal of ratings. But let’s be clear, simply taking a system that was introduced by the likes of Adobe,...
Appraisal Is Dead. Long Live The ‘Check-In’.
The GEC meets this week to discuss the future of the Bank’s performance management system. The exact details of the new system will be communicated to staff and line managers on the 2nd January 2019. We’ll discuss ‘check-ins’ or ‘catchups’ and ratings in our next...
Thought Machine & The Future Of Banking
Members will have seen that Lloyds Banking Group (LBG) has invested £11 million in a fintech start up called Thought Machine. Thought Machine was set up a few years by a group of Google engineers who have developed a revolutionary cloud-based core banking platform...
Bank Restructure: The Intolerable Reality
When the Judge ruled in our favour on the ‘Non-Signer’ Employment Tribunal case, 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...
Pensions Victory – The Making Of History
It’s a little known fact but the principle of equal pay for work of equal value, which was at the heart of our recent pension case, can be traced back to the Treaty of Versailles 1919 (Article 427), which brought World War 1 to an end. The fact that our pension case...
Spinning The Numbers
When the Bank announced another round of job losses last week it tried to manage the bad news by saying that it was creating “an additional 2,000 roles”. What it didn’t say immediately was that whilst it was creating 8,240 new digital roles it was getting rid of 6,240...
“Discomfort” The Customer
In one group of branches in Lloyds Banking Group (LBG) staff were told: “that during an interview we must “discomfort” the customer……”. The member of staff went on to say: “I’m absolutely flabbergasted to hear such words from management! And if advisers do not do...
BTU Newsletters
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