Enough is enough!
OCTOBER 22, 2019
After successive years of under inflationary pay rises, Unite the Union says Peabody must now pay all of its hard working staff a fair pay increase in this year’s negotiations and that only a 5% pay rise across the board will help put right the years of net losses caused to the real value of staff take-home pay. Despite bumper surpluses housing workers at Peabody have repeatedly suffered real terms pay cuts. Now they are saying “enough is enough."
Both Unite and our fellow trade unionists in Unison will be pressing for some of the benefits of the merger savings to be passed on to the staff who have put so much effort into the creation of the new Peabody, which reports a £175m surplus in 2018 (source - Peabody financial report). Unite says that it’s time that the employer backs its staff - just as they have backed Peabody since merger. Peabody Unite says - a 5% pay rise for all staff!
Unite’s 5% Pay Claim has been prepared and will be presented on behalf of members of Unite the Union who are covered by the recognition agreement between Unite the Union and Peabody. The pay claim addresses the need for a substantial rise in pay and changes in conditions for our members - and indeed across the organisation - to maintain a reasonable level of income.
Unite reports that the successful figures reported in the Peabody annual report (as stated below) are down to the hard work of their members and other colleagues:
- Peabody surplus £175m (Peabody financial report 2018)
- Customer satisfaction ratings 78% - Peabody, 82% - FM, 98% - Care and Support
- Peabody Credit Rating ‘A3’ - £3.1m ‘establishment’ staff savings in 2018 as a result of merger.
- £19.2m overall merger integration savings target.
Unite will therefore be filing a 5% pay claim for its members, including former Peabody Older Persons directorate colleagues, based on the following:
- Current RPI in?ation stands at 3.1% (Q1 2019 - source statista.com)
- RPI infation is forecast to run between 3.1% and 3.2% for 2019/20.
- The combined group wage costs have fallen from £96.2m in 2017, to £93.6m in 2018.
- “It costs more to live and work in London now than ever before. Workers deserve a sustainable income that reflects this ...” Brendan Sarsfield in the Peabody Low Pay Report 2018.
- Peabody pay rises for the last five years have been at levels below RPI inflation, leading to a real loss of value for staff take home pay.
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