Ask Exco Thank you for your continued enquiries into Ask ExCo. Below are some answers to most of the themes and topics asked in recent times. Our plan is to use In the Loop, and maybe one TGT each month, to respond to the very latest Ask ExCos. If you have any questions please don’t hesitate to email us! Could you please provide information as to why many pay rises have been less than half of the rate of inflation after we were told on many occasions that Tandem has now become very profitable? Our pay award process this year was an extremely difficult task. As a new bank, we are only 3-4 months into our journey and as yet, we have not become "very profitable" as the question suggests. We are progressing well and hope to have a great first year as a combined business which will help with our new 2022 Bonus model as well as future reward. As a result, our 2022 pay process was difficult but we felt that team managers were able to best distribute the pay pool to reflect priorities locally.
What is the growth in Cardiff going to involve? Is savings coming to Cardiff as well as motor finance? We have recently moved our Savings Administration work from an external outsourced supplier and now based it fully within our offices in Durham! The team there have completed several weeks of training and a considerable amount of planning and as at last week, the new team are live and assisting our customers! We also have exciting plans to expand our Car Finance teams out of Cardiff and Dave Briggs, MD of Car Finance, is busily forming his recruitment plans to help us do this.
When will all new job roles be advertised internally across all sites to ensure everyone has visibility of the roles that are available? At the moment, the respective teams in London and Blackpool are managing localised recruitment but we do intend to share all roles, probably on a weekly basis, in the very near future!
If basic salaries increase as a result of the benchmarking exercise that was discussed when will this take effect? If paid in April will this be backdated to February? No, we did not intend to backdate our pay awards for 2022. All agreed rises will be effective this month, April.
What is the plan for front line operational colleagues to integrate and create relationships with other sites? Will site visits be allowed? Great question! The first quarter of 2022 has been intense for all colleagues as the new business took shape. As we move forward through 2022, we expect to see many more opportunities for colleagues across the bank to work with colleagues and visit our different sites.
