Industrial Relations in Building Societies

Industrial relations in the finance sector has always exhibited rather special features; a virtually exclusive white collar work force dispersed in numerous branch offices; relatively high unionisation with membership split between TUC‐affiliated unions and in‐house staff associations; higher than average pay settlements in recent years and early experience of computerisation. Building societies share many of these features, but three aspects make industrial relations particularly fascinating in this sector. Unionisation has only become extensive in the top 30 societies in the last five years and, in many respects, has yet to mature. More importantly, there are no TUC‐affiliated unions represented in the largest societies. Thus this is an industry uniquely dominated by staff associations, many of which have only recently been formed and awarded Certificates of Independence. Thirdly, there are good grounds for predicting that market and growth conditions in the next decade will be markedly different from the conditions of rapid growth experienced in the 1970s when the staff association movement began.