The Commonwealth Bank Group Enterprise Agreement 2016 (EA) is a legally binding agreement between the Commonwealth Bank of Australia and its employees. It governs the terms and conditions of employment for all permanent and casual employees, and covers areas such as pay, leave, working hours, and workplace health and safety.
The EA was negotiated between the Commonwealth Bank and its employee representatives, with both parties seeking a fair and reasonable agreement that would benefit the Bank as well as its employees. The EA was approved by the Fair Work Commission in October 2016 and came into effect on 1 November 2016.
One of the key features of the EA is the pay increases that it provides for employees. Under the terms of the agreement, all employees received a 3% pay increase on 1 November 2016, and further increases of 3% were scheduled for the next two years. This has provided a certain level of financial security for employees and has helped to attract and retain talent within the Bank.
The EA also includes provisions for paid parental leave, work-life balance, and flexible working arrangements. These provisions are designed to support employees who may be juggling work and personal commitments, and to help them achieve a healthy balance between their work and personal lives.
Another important aspect of the EA is its commitment to workplace health and safety. The Bank has committed to providing a safe and healthy workplace for all employees, and to implementing strategies to prevent workplace injuries and illnesses. This includes providing employees with appropriate training, equipment, and resources, and promoting a positive workplace culture that is focused on safety and wellbeing.
Overall, the Commonwealth Bank Group Enterprise Agreement 2016 is a significant document that has helped to shape the employment landscape of the Commonwealth Bank. Its provisions have provided employees with greater financial security, work-life balance, and safety in the workplace, and have helped to ensure that the Bank remains a competitive and attractive employer within the financial services industry.