Our Fair Pay Charter
We’re committed to paying our colleagues fairly, knowing this helps them feel valued, respected and recognised for the work they do.
Our Fair Pay Charter which sets out our commitment to pay all our colleagues competitively and transparently, and our reward policy is updated according to the current and future needs of the business.
For further information please see our 2021 ESG Disclosures Report (PDF 15MB).
Principles to support fairness for all our colleagues
The reward proposition has been simplified to make it easier for colleagues to understand.
The structure of pay and benefits is consistent for colleagues based on their location and role, with a clear rationale for exceptions.
Colleagues are supported in working flexibly, in ways that balance customer and business needs and their personal circumstances. Colleagues can also select the combination and level of benefits that best meets their needs.
Pay decisions reflect the performance of NatWest Group and the individual, taking into account the behaviours and values demonstrated. Information on salary ranges and the annual pay review is readily available to all colleagues. Gender and ethnicity pay gaps are reported.
Colleagues are surveyed regularly, and engagement sessions are held on reward with our colleague representatives and the Colleague Advisory Panel.
Clear communications are provided on pay and performance decisions. Clear expectations are set on how colleagues are rewarded and the principles guiding decisions, including having clearly defined performance goals, regular check-ins with managers and feedback.
Pay is well administered with colleagues paid accurately and on time. Colleagues can access their payslips and other pay documents 24/7 via Workday.
NatWest Group requires fairness and inclusion and that judgement is exercised with thought and integrity. There is a Group-wide commitment to rewarding colleagues in a way that is free from discrimination.
A competitive total reward proposition is provided that enables NatWest Group to attract, motivate and retain colleagues based on market rates for their role, location, performance, skills and experience.
There is an appropriate mix of fixed and variable pay and a core level of benefits. NatWest Group is an accredited Living Wage Employer in the UK with rates of pay that exceed the Living Wage Foundation Benchmarks.