Major bank harmonises employee terms and conditions

18 June 2012

Equiniti helps retail bank in the UK to harmonise the diverse terms and conditions of its 120,000 staff

A large retail bank had undergone a number of high profile acquisitions. This had resulted in a requirement to harmonise over 120,000 employees’ terms and conditions. 

The bank wanted a consistent benefits structure for all employees which would be more cost effective to administer. It also wanted to ensure that employees felt that they were working for one bank with the same values and business objectives. As a result, the bank made the strategic decision to issue a single contract for each grade of staff employed. It entrusted Equiniti to help it manage and administer the process.

Overall, the way that the Equiniti team has worked in partnership across divisions and with external suppliers to make it all happen has been truly impressive.