bonus scheme

[Edward Hunter]

Was i dreaming it or was there a bonus element to the latest 3 year pay deal we accepted? Sure i remember something about one being discussed to start in April

[newtimes]

Was i dreaming it or was there a bonus element to the latest 3 year pay deal we accepted? Sure i remember something about one being discussed to start in April

Its been mentioned a few times now, many people rightly pointed out, only a month was confirmed, the actual year is a closely guarded secret.

[chrisj]

I do not think they can really afford that anymore... Competition is hotting up, Regulator is on their case for more efficiency and RM is in further decline...

We posties are just too expensive in terms of wages as it is so RM is unlikely going to give us more without wanting a whole lot more - and a whole more is what they are currently demanding. Even TNT has jumped on the OFCOM bandwagon talking about RM inefficiencies instead of their cherry picking.

[Decky Boy]

I do not think they can really afford that anymore... Competition is hotting up, Regulator is on their case for more efficiency and RM is in further decline...

We posties are just too expensive in terms of wages as it is so RM is unlikely going to give us more without wanting a whole lot more - and a whole more is what they are currently demanding. Even TNT has jumped on the OFCOM bandwagon talking about RM inefficiencies instead of their cherry picking.

What planet are you on Chris ? You're worth every penny they pay you...and then some. Why don't we (Royal Mail) undercut our competitors for a year or two and put said organisations out of business ? Then there will be plenty of work and plenty of lolly for our bonus

PS : Was it a £700 million profit last year ? ? ? RM have deep pockets and the Incentive Scheme was part of the Agreement. Don't let them fob you off with the idea they (we, Royal Mail) have no money

[careful]

The rich always plead poverty!

[chrisj]

What planet are you on Chris ? You're worth every penny they pay you...and then some. Why don't we (Royal Mail) undercut our competitors for a year or two and put said organisations out of business ? Then there will be plenty of work and plenty of lolly for our bonus

I never said we are not worth what we get paid. However, worthiness is a very subjective thing given that the competition pays their staff in the region of £7.00 per hour. Are you worth more than a TNT staff? (who is to say?).

Secondly, how can you undercut the competition when you pay a lot more for your staff, you have to deliver to unprofitable places, you have serious expenses and overheads and you are tied to a 5/3 year T&C and wages protection for your staff.

I forgot to add that we also got free shares and the 'dividends' is some sort of bonus.

* Of course, I am not complaining about my wages or shares or T&C protections but I am not too greedy to ask for more because it will be unsustainable and eventually lead to RM having to make tough business decisions that will lead to job losses and more.

[jaxx]

You forgot to mention the £430 million pound profit we made last year.

[Newbie001]

Wouldn't be surprised if they are waiting to link it to the delivery first time scenario. i.e if d/o gets above 90% everyone gets a pro-rata payment by increment. It's the sort of stuff my previous company would have come up with. Sounds good in theory but so many pitfalls you're likely to get very little.

[monkeymutha]

Maybe the bonus is the share dividend.

[philsdeals19]

Rubbish my brother works for TNT and gets £11.07. Per hour his take home is not much different from mine.

[chrisj]

Your brother works for TNT as a what?

A TNT postie told us here that he gets something like £6.50 (at least less than £7.00) and it is generally perceived that TNT staff do not get paid that much...

So how does your bro get £11.07 per hour? Even we do not get that much as a basic pay rate.