Archive for June, 2018
Consultation Update w/c 25th June 2018
Friday, June 29th, 2018
Retained Organisation – CS&I and Wealth Solutions
We started consultations on these elements of the transformation on Monday with Gillian Nimmo and Katie Page. Thank you to those of you that have raised concerns either at our drop in sessions, members meeting or via email. We have been passing these on as part of the consultation process and will continue to do so as they come to us.
Wealth Solutions
Nicola Sartorius provided the group with an overview of the rationale for the changes in Wealth Solutions as well as explaining how the new teams will work. We understand why the changes are being made and can see the logic behind the restructure. We are pleased that there are more roles available in the new structure than individuals being placed at risk of redundancy and that those employees have opportunities to express interest in multiple positions within the new configuration.
One other element of interest is the introduction of technical roles at Grade 3 and 4. In the past, these have not been available and individuals who wish to progress their careers would have needed to take on line management responsibilities as part of a Grade 3 or 4. This should offer greater opportunities to individuals who might otherwise have sought opportunities outside of the Company for them.
Following a request from Unite, roles that are not filled by at-risk employees through the selection process will be advertised internally from Thursday 28 June prior to external advertisements being made on
Wednesday 4 July. Applications from internal colleagues will be accessed in the same way and following the same timeline as those of external candidates. We did ask for a full selection process to be run for internal candidates ahead of external publication but this was something Prudential couldn’t accommodate.
CS&I
Rose Little, Vinay Jha and Colin Adams provided clarity on the proposed changes within CS&I. In summary, a transformation is needed to create a better fit for the business to support the TUPE of roles to Diligenta. We are comfortable with the rationale provided, and as with Wealth Solutions, we are pleased to see that there will be more roles available in the new structure than are being placed at risk.
All of the new roles in the new CS&I structure have been advertised on the Taleo job board. Anyone who is at risk of redundancy should ensure they tick the appropriate box on their application to show that they are at risk of redundancy when applying, so that their application is prioritised.
Those who are at risk of redundancy who wish to preference redundancy should complete the expression of interest form and submit it to the mailbox by 29th June.
Those who are at risk and in a pool within Solution architecture must ensure they have completed the assessment form, even if they wish to express an interest in redundancy, and submit to the mailbox by 29th June (csi.transformation@prudential.co.uk).
If you have any questions on the process or where to download forms these can be sent to the same mailbox and will be answered as soon as possible.
TUPE and Diligenta
We have reviewed all the Terms and Conditions proposed by Diligenta at a high level. Following our assessment, we have requested a number of their people policies to review in depth prior to the next consultation meeting on 4 July.
Thank you for all your questions, concerns and suggestions – we have raised them with Prudential/Diligenta as appropriate and will continue raise any that come to us during the consultations.
We will be holding another drop-in session on Thursday 28th June from 9.00 – 15:00 in BG:02. Feel free to pop in at any point on this day to ask questions, raise concerns or make suggestions.
We have arranged another members meeting for Monday 2nd July at 12.30 in The Avenue, Reading.
If you are unable to attend the drop in sessions, members meetings or have any questions then please contact Unite@prudential.co.uk
Thanks
Claire Williams
Ellen Looby
Jan Ciepkiewicz
Posted in Diligenta & TCS TUPE, Pru Section news | Comments Off on Consultation Update w/c 25th June 2018
Update on Consultations
Friday, June 22nd, 2018
TUPE and Diligenta
We have now concluded the first 2 days of the consultation process and we have seen a high level view of the terms & conditions Diligenta are proposing. We are comfortable with a lot of these as they provide either no change or an increase to what you enjoy currently. We will be looking at the T&C offering and Diligenta’s policies in more depth over the next 2 weeks to ensure that where there are changes, we will review and challenge (where appropriate) in the upcoming consultation meetings.
Following on from our previous email, the situation as it stands is:
What do we now know:
Redundancy terms – we are happy that Prudential redundancy terms will be transferred and preserved on promotions or redeployment within Diligenta. As the business transformation and migration plans to BaNCS mature, there may be more visibility of dates and timelines for changes.
Holiday – although Diligenta do not operate a flexible benefits programme, they have committed to the 5% flex allowance continuing and also for the option to buy more holidays up to a maximum of 33 days. The key difference is that once you have set the number of days you would like then this will continue for the length of your employment. If you have a significant life event , then it will be possible to flex the number of days following a discussion with your manager.
Bonus – you will receive a Prudential bonus (if it’s payable & you are eligible as usual) for January – September 2018, this will be paid in March 2019. You will then receive the Diligenta bonus (if it’s payable & you are eligible) for October 2018 – March 2019, this will be paid in June 2019. For 2019 and beyond, any bonus will be paid in June each year. We are comfortable with the proposed bonus structure and confirm there will be no business multiplier in the Diligenta bonus scheme.
Pay Dates – This has been confirmed that it will be 25th as it is now so there is no change.
Unite recognition – Collective recognition will be transferred to Diligenta on the same basis as it exists in Prudential. If you are in Reading, you can join Unite to ensure you are fully recognised under the transfer and for those in Craigforth, you are still welcome (as always) to join and benefit from individual representation.
Defined Contribution (DC) Scheme – the Diligenta DC contributions are the same as the current Prudential DC scheme (6% employer + up to 6% matching employee contribution – max 12% employer contribution) .
Final Salary (DB) Scheme – Proposal for a non-contributory DC scheme has been put forward. This will be a key part of the consultations and will be asking for your thoughts over the next 2 weeks so please let us know if there is anything we should consider to represent you. We have raised a lot of concerns already regarding this aspect and will look to get the best outcome we can.
Going forward:
We will communicate with our members regularly with any updates by email, drop in sessions and members meetings.
Retained Organisation – CS&I and Wealth:
We start consultations on this element of the transformation on Monday 25th June, thank you to those of you that have raised concerns and we will raise these as part of the consultation process. As with the TUPE consultations, we will be representing your interests and communicating regularly.
We have arranged another day for you to just come along & have a chat – we will be in BG02 between 9am and 3pm on Thursday 28th June. We have also arranged another members meeting for Monday 2nd July at 12.30 in The Avenue, Reading.
If you are unable to attend the drop in sessions, members meetings or have any questions then please contact Unite@prudential.co.uk.
Please feel free to pass this on to your colleagues and friends who may not be members – an application form and benefit summary are attached should non-members wish to sign up. Please return these to either Jan Ciepkiewicz (2C) or myself (3B) 121 Kings Road.
Thanks
Claire Williams
Ellen Looby
Jan Ciepkiewicz
Posted in Diligenta & TCS TUPE, Pru Section news | Comments Off on Update on Consultations
Prudential Announcements – 12th June 2018
Friday, June 22nd, 2018
You will by now have heard the Company’s announcement regarding the extension of the strategic partnership with Diligenta. We understand the drivers behind the need for business transformation and the need to deliver this at pace.
CS&I
Unite was informed of this announcement at the beginning of May and we have had some meaningful and positive discussions regarding the transfer of roles to Diligenta. We are pleased that there are no plans in the short term for any redundancies and that the Prudential redundancy terms will transfer with the roles.
The communications made on 12th June refer to approximately 403 Prudential roles being transferred to Diligenta and they all sit within CS&I, Risk and Finance in Reading and Craigforth. Mumbai roles will transfer to TCS as Diligenta are wholly UK based.
Some of those remaining at M&G Prudential in the CS&I function have been put at risk of redundancy but that there are a number of new roles in the new structure.
Wealth Solutions
We have also been involved with the consultations regarding the restructure of Wealth Solutions and the realignment into job families – we understand this is a period of uncertainty for you but although a large number of people will be placed at risk of redundancy, there will be more vacancies in the new target operating model than in the at risk pool, which we are pleased with.
Training and support will be provided for those that secure roles in the new structure and there are no plans to move jobs from Reading to Edinburgh.
General
We have spoken to a lot of individuals over the last few days in Reading, Craigforth and London to gain an understanding of the issues/concerns they have over the transformation. These have been invaluable and will provide the basis of our approach to the consultations that start on 19th June.
As part of the consultation process we have been invited to visit a Diligenta site and will update you on our impression of the operation once that has happened.
We will keep you all updated regularly on our consultations with the business and what Unite is doing to support our members that are being transferred, individuals that remain within M&G Prudential and those in Wealth Solutions during this time of unprecedented change.
If you have any questions on the announcement please email Unite@prudential.co.uk or speak to your local rep.
Posted in Diligenta & TCS TUPE, Pru Section news | Comments Off on Prudential Announcements – 12th June 2018