F0zziebear wrote:
Monthly pay:
The infrastructure to provide weekly pay is huge. Imagine the potential cost savings by running pay only 1/4 of the current time and resources currently required. This will inevitably lead to job reductions in the 1,000+ pay department (the faces you don't see based in Sheffield). By reducing the costs in these central/shared services it is less likely that a job has to go at the frontline (though it is not a guarantee).
I personally found in Ops the paperwork required each week really took away focus from running and providing the service. Maybe there will be some problems implementing this, but if staff are given a percentage of the savings then you will in the near future appreciate the approach. I hope so as I'm prepared to endorse such an approach. If it doesn't work then I'll eat my words
F0zz
It's a fairly safe bet that monthly pay is coming in. For the reasons Fozzie stated, and also because with drivers and most office staff already on monthly pay, it's inconceivable that RM wouldn't want everybody paid monthly. Imagine we get our last weekly pay on the 29th February (hypothetical example). Think how much money would normally paid out in wages nationally across RM on 7th March under the current weekly pay arrangements, and how much interest would be earned on it by holding those monies until the first (hypothetical) Monthly paydate of, say, 28th March. Then add-in the interest earned on the wages not paid out on 14th March, and on the wages not paid out on 21st March, and it's easy to see how a move to monthly pay would save RM a fortune every year,
permanently (because they will never ever revert back to weekly pay).
The best the CWU can do for us is to extract a one-off lump sum for agreeing to switch us over, but not one that has to be repaid (like with the drivers' deal). I'd ask for an amount equal to at least two years worth of the anticipated interest + cost savings from slashing jobs at Sheffield, to be divided amongst all emplyees that move from weekly to monthly pay !!!