Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cyril Roux:

-----as you know ... well, yes, we can't keep them because, as you know, as long as you're doing the same job, under FEMPI you are paid the same amount, whereas ... you gain experience, so instead of being ... you know, joining and being ... you know, have no work experience, after five years you're still ... if you do the same job, then you can't be paid more. So the only possibility for staff to be paid more is to change jobs and they change jobs, so we have a lot of churn. Because there are vacancies and there's a lot of opportunities within the Central Bank to apply to new jobs, so you see people changing jobs to get paid more, which is, of course, the ... the thing ... the thing-----