This case study reviews the partnership agreement signed by HBOS, Unite and Accord in July 2007. It discusses the process leading up to partnership, the implementation of the agreement and the impact on the working relationship between HBOS and Accord and the HBOS employees. It also assesses the sustainability of the partnership through the financial crisis and the consequent takeover of HBOS by Lloyds Banking Group.
The case study demonstrates just how significant the agreement is, noting considerable gains for the unions, in terms of membership growth and strategic influence over the company, and for the company in managing unprecedented change. This has been a successful partnership in which each of the parties has fulfilled many of their original objectives.
The challenge now for Accord and United is to mainstream this approach, and deliver the many benefits it has brought staff, across Lloyds Banking Group. The challenge for LBG is to understand the major benefits partnership working brings, how it can enable the company to respond effectively to the new commercial landscapes and to develop a company-wide employment relations approach based on these principles.