Reply to: Lloyds Bank 10% rate cut from April

[Project Monkey]

Lloyds've been shedding staff for years.

...and hiring too. Continual merry-go-round, just like all other FS clients.

[shingz]

So..... Any updates to this from your Lloyds pple out there?

[WDNK]

I expect to find out in 2 weeks if i will be hit.

[Vaughan]

Apparently the rate cut "does not apply to everyone".
But there is no evidence either way.

[No2politics]

I turned down a Lloyd gig about a month ago. New role is much more interesting learning newer tech in a new industry, but about 10% less than what Lloyd were paying. Glad I didn't chase the money!

[Taita]

Lloyds've been shedding staff for years.

Somebody has to pay the bonuses.

[Eirikur]

never again!!!!

poor rates. but great if you like sitting around, pushing the pen around and getting nothing done.

Same as at Barclaycard then

[shingz]

worked once with Lloyds

never again!!!!

poor rates. but great if you like sitting around, pushing the pen around and getting nothing done.

[BolshieBastard]

What I don't get is that lloyds are saying the 10% cut is on the day rate to contractors - surely the 10% should be to the overall rate including the mark up?

If LBG are controlling rates paid, surely that makes them employer by default and therefore liable for employment regs and all the contractors within IR35?

If you had a copy of the upper contract then you'd probably realise from a written contract POV, yes, virtually everyone would be IR35 caught.

One presumes the "10% contractor rate cut" applies to the whole amount to agent and contractor but for ease of communication, they just say "contractor rate cut"?

[Bluebird]

Comms are being sent out about 10% rate cut across the board for any contract renewal after April.

Given other org wide changes as well, looks like tough times ahead for contractors with Lloyds.

What I don't get is that lloyds are saying the 10% cut is on the day rate to contractors - surely the 10% should be to the overall rate including the mark up?

If LBG are controlling rates paid, surely that makes them employer by default and therefore liable for employment regs and all the contractors within IR35?

[Bluebird]

They have a dept called CMU that deals with it, they are effectively HR/Legal by another name. If the CV has not been through CMU, it will not be on the hiring managers desk. Fact.

CMU is the cost approval board - for new roles you have to get approval at CMU - that covers contractors, additions to FTE as well as professional services.

There are a couple of hiring routes for contractors the mail one being GCMR that review CVs before passing to the hiring manager. The other routes are Reed and LTS.

GCMR cover the agencies like Sandersons, RZ Head etc....

[Bluenose]

I can assure you, you're wrong.

+1

[BolshieBastard]

LBG's HR dept don't screen contractors CVs let alone put anyone on any sort of 'barring list'

I can assure you, you're wrong.

[TestMangler]

That's the Change Management lot staffed by EA consulting bods, mostly, right? If it is the same lot, most of what they did was ensure I filled out the requests correctly and ticked all the boxes. They certainly didn't do much screening when I used them; I often got a phone call from the agent directly, and would get view of CVs pretty much simultaneously.

Things may have changed since then, though...it was 2011 when I was last there.

It has changed since then. Your request goes to CMU, CMU put it out to Hyphen. Hyphen either provide CVs or put it to their partners or second tiers who provide CVs to CMU. CMU then filter CV's and back to hiring manager for interview/selection. It is possible to get CVs in via 'friendly' agents but you ultimately have to go through the process above at some point. Fell foul of this when trying to get tester analysts in that I knew and wanted. I could get the CVs I wanted but getting them via CMU (which would then allow you to hire) was the tricky bit :-) Was doable, but took a bit of 'manipulation'

[jjdarg]

They have a dept called CMU that deals with it, they are effectively HR/Legal by another name. If the CV has not been through CMU, it will not be on the hiring managers desk. Fact.

That's the Change Management lot staffed by EA consulting bods, mostly, right? If it is the same lot, most of what they did was ensure I filled out the requests correctly and ticked all the boxes. They certainly didn't do much screening when I used them; I often got a phone call from the agent directly, and would get view of CVs pretty much simultaneously.

Things may have changed since then, though...it was 2011 when I was last there.