The Australian Prudential Regulation Authority (APRA) has recently released its new Enterprise Agreement for 2018, which outlines the terms and conditions of employment for its employees. The agreement, which came into effect on October 1, 2018, replaces the previous agreement that expired in June 2018.
According to the new agreement, APRA employees will receive a 2% pay increase per year over the next three years. The agreement also includes new provisions for flexible working arrangements, which aim to improve work-life balance for employees. In addition, the agreement provides for enhanced parental leave entitlements and domestic violence leave.
One of the key features of the new agreement is its recognition of a commitment to gender equity in the workplace. APRA has pledged to achieve gender equity in all areas of its operations, including recruitment, promotion, training, development, and remuneration. This commitment is supported by a new initiative called the Gender Equity and Diversity Council, which will provide guidance and support to APRA management in implementing gender equity initiatives.
The agreement also includes provisions for career development and training opportunities, with a particular focus on improving the digital and technical skills of APRA employees. This reflects APRA’s commitment to staying ahead of the curve in terms of technological developments and the changing nature of the financial services industry.
Finally, the agreement includes provisions for workplace health and safety, with a particular emphasis on mental health. APRA has recognized that mental health is a significant issue in the workplace and has committed to providing support and resources for employees to manage their mental health and well-being.
In conclusion, the new APRA Enterprise Agreement for 2018 provides a comprehensive framework for the terms and conditions of employment for APRA employees. Its focus on gender equity, flexible working arrangements, and mental health reflects APRA’s commitment to creating a safe and supportive workplace that promotes work-life balance, career development, and employee well-being.