Rewards & Benefits

Our Employee Value Proposition

Our diverse and competitive Total Reward offering is underpinned by an environment and culture to attract, develop, reward and retain talent whilst achieving efficiency and sustainability.

The Co‑operative Bank Total Reward Package

Some of the great reward and benefits you will enjoy by joining us are detailed in our total reward package model above and covered in more detail in the text below.

Reward

Our competitive total reward offering includes market based pay, an annual allowance and car allowance (depending on grade), pension scheme and annual holidays above the statutory minimum of 20 days per annum.

Holidays

On top of eight public holidays, you'll enjoy 25 days' annual leave, increasing every year for five years (up to 30 days). Pro-rating applies if you're part-time. From January 1st 2018 annual leave for new starters will increase to 27 days per year.

Pension

You’ll be able to join our pension plan where you will be able to receive up to 10% of salary in pension contributions from the company.

Recognition

We recognise the fantastic contribution our colleagues make to our business through our peer to peer employee recognition scheme.

Benefits

The organisation provides access to a number of additional benefits:

  • All our colleagues receive Life Assurance cover.
  • Our Employee Assistance Programme (EVP) is a free, confidential online or phone-based information and counselling service.
  • Our Loyalty/Long Service Awards scheme recognises 25, 30 and 40 year service anniversaries.
  • Some of our roles offer a car cash allowance.
  • Some of our roles offer private medical insurance.
  • Our Childcare voucher scheme allows you to make tax and NI savings.
  • Payroll is an easy way to make regular donations to any UK charity – it’s both flexible and tax-efficient.
  • Our Employee Recognition Scheme recognises colleague contribution.
  • Our Eye care scheme provides free eye tests to regular Display Screen Equipment users and employees with essential or benefit car allowances. 
  • Personal Accident Insurance offers peace of mind in the unlikely event of a serious accident whilst at work or on company business.
  • Permanent Health Insurance cover is provided to all our employees in the event they are unable to work for a long period due to illness.                       
  • We offer Retail discounts with some global technology businesses and a national gym provider.
  • Our colleagues have been making a difference to their local communities since 2006 through our supported Volunteering Programme.

WellBeing

Employee health and wellbeing is important to us. We provide an Employee Assistance Programme and support a number of initiatives to improve employee wellbeing. To help you strike the right balance between your home and working life, we’ll try to offer real flexibility, without compromising on great customer service.

Talent and development

As our business evolves, we’ll support you to grow your skills, knowledge and confidence too. We’re big believers in being proactive. That means you’ll drive your own development, using our range of tools and techniques at your fingertips – from workshops, to online, work-based, video-focused and distance learning options.

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