LO and Finance Norway agreed

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Christopher Beckham, head of the HK Trade and Office Confederation, meets Therese Høyer Grimtad, director of Working Life in Finance Norway

Keywords: Tariff 2024

LO and Finance Norway, today agreed on this year’s salary settlement. Increased purchasing power has been the most important thing for the LO delegation.

At 1800 on Tuesday evening, a satisfied delegation leader could tell that an agreement had now been reached.

– The negotiations have been good, but they have taken a long time. We are satisfied with this result, says Christopher Beckham, head of delegation and head of the Confederation of Trade and Office in Norway.

A supplement of 2.65% is given, minimum NOK. 15,000 with effect from
1 May 2024. The settlement is about the front subject. In the result, around 53% is collected centrally, to fill the frame, the remainder must be collected locally.

– For LO, it is important to have a minimum amount, there are many people in this sector who earn too little, says Christopher Beckham.

Early voting
Now it is the members’ turn to vote yes or no on the outcome of the collective agreement. Members to whom these negotiations apply will be sent information and what they need to vote by e-mail during the coming week. If we are missing the email address, they will receive a letter in the mail. They can read the deadline for voting from the material they receive. The deadline to cast your vote is Monday 6 May 2024 at 09.00.

Difficult words and expressions?

Frame refers to the total financial package available under a wage settlement. It includes salary supplements, other financial supplements such as increased inconvenience allowance, as well as the value of other benefits such as longer holidays or shorter working hours. The economic framework is a matter of negotiation and often includes a number of factors, such as the government’s guidelines, Norges Bank’s key interest rate, and calculations from the Technical Calculation Committee (TBU).

Overhang describes the difference between the wage level at the end of a year and the average level for the whole year. It shows how big the wage growth will be from one year to the next, given that no further wage increases are given. Overhang typically occurs when pay supplements are given late in the year, and is an important factor that forms part of the financial framework for a pay settlement.

Sliding, or wage slippage, is the difference between the wage growth agreed in a wage settlement and the wage growth that actually occurs. This may include salary supplements given through local negotiations, personal supplements, seniority supplements, and other forms of salary increase that are not directly part of the central salary settlement.

Local negotiations are negotiations that take place at the individual workplace or within a specific area, and which deal with additions beyond those agreed in the central negotiations. These negotiations take into account the company’s finances, competitiveness, productivity and future prospects. The result of local negotiations often contributes significantly to the wage gap.

In FriFagbevegelse’s tariff lexicon, the difficult and important words are explained.

You will find more information about the collective bargaining settlement wage settlement 2024 (hk.no)

The article is in Norwegian

Tags: Finance Norway agreed

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