New employment conditions and social plan for ABN AMRO

Press release -

ABN AMRO Head Office

ABN AMRO has reached a negotiated result with the trade unions FNV Finance, De Unie and CNV Dienstenbond on a new collective labour agreement (CAO) governing employment conditions with effect from 1 January 2016 and a new CAO Social Plan with effect from 1 January 2017.

The main agreements in the new collective labour agreement are:

  • A new CAO Social Plan will take effect as from 1 January 2017
  • The bank will invest an additional amount in continuous employability of the workforce
  • Wage increase for staff of 1.5% as from 1 January 2017

Hilde Garssen, CHRO at ABN AMRO: ‘We had some tricky discussions and took some tough decisions. We have reached a responsible result with these agreements. Besides committing to a limited wage increase, we will invest in our people’s sustainable employability. The new agreements are consistent with today’s world and the bank we aspire to be.’

The unions will present the negotiated result to the vote of their members. The outcome of this vote is expected mid-January 2016. Once approved, the new collective labour agreement will take effect as from 1 January 2016. The new collective agreement applies to staff who are employed under a Dutch contract and covers approximately 80% of all employees of ABN AMRO.

Continuous talent development

The CAO governing employment conditions has a term of two years, until 1 January 2018. A key issue in the negotiations was continuous talent development. The bank is committed to continuous employability. The objective is to ensure that employees remain employable within the bank or elsewhere by investing more in vitality, training and coaching. For example, the bank agreed with the unions to increase the personal Sustainable Employability Budget by EUR 750 to EUR 2,250 every three years.

New CAO Social Plan

A four-year agreement has been reached regarding the CAO Social Plan. The current CAO Social Plan will be renewed by one year, until 1 January 2017. The new CAO Social Plan has a term of two years, from 1 January 2017 to 1 January 2020. ABN AMRO wants to bring the CAO Social Plan in line with the Work and Job Security Act (WWZ), partly based on the legal transition allowance. Redundant employees will receive a personal mobility budget of EUR 3,000. Employees who make use of the mobility organisation will receive additional resources of EUR 2,000.

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