Colleague Share. Any info please

[Charlotte4]

Was told today that as we hit profit above expectations we would get £400 in Colleage Share. What is College Share, when do we get it and is it Pro Rata to part timers.

Thanks

[TrueBlueTerrier]

Not sure if we made the target for the colleagueshares as its not based on profit but on the profit target.

However I have found my Colleagueshare guide and am scanning it as I type.

[asbru]

RM sent round an email today saying we made group target so are on for that part of colleagueshare, which is due in June.

[TrueBlueTerrier]

[johnnyp]

Was told today that as we hit profit above expectations we would get £400 in Colleage Share. What is College Share, when do we get it and is it Pro Rata to part timers.

Thanks

A few bits from the Pay And Mod Deal

COLLEAGUESHARE

• Previously Royal Mail has resisted any Union input into ColleagueShare. Now this agreement influences aspects of the scheme and gives us a platform to move the debate forward. The criteria of the dividend payments in years 2 and 3 will now be subject to joint review. This is in addition to the change that has been made to the year 1 £400 payment. We should continue to pursue our overall concerns around ColleagueShare as part of the debate on how employees will be rewarded in the future.

• 50:50 productivity scheme as set out in the appendix of this offer
• £400 of the potential ColleagueShares dividend payment will be made in April 2008 to offices which have completed their deployment of the agreed unit plan in Phase 2 of the modernisation process.
• The remaining potential dividend payment from ColleagueShares scheme over this year and next, split as follows:
o £400 for achievement of Group profit in 2007/08
o £200 for achievement of the local target for 2008/09.
o £200 for achievement of Group profit in 2008/09

[k979aaa]

Was told today that as we hit profit above expectations we would get £400 in Colleage Share. What is College Share, when do we get it and is it Pro Rata to part timers.

Thanks

A few bits from the Pay And Mod Deal

COLLEAGUESHARE

• Previously Royal Mail has resisted any Union input into ColleagueShare. Now this agreement influences aspects of the scheme and gives us a platform to move the debate forward. The criteria of the dividend payments in years 2 and 3 will now be subject to joint review. This is in addition to the change that has been made to the year 1 £400 payment. We should continue to pursue our overall concerns around ColleagueShare as part of the debate on how employees will be rewarded in the future.

• 50:50 productivity scheme as set out in the appendix of this offer
• £400 of the potential ColleagueShares dividend payment will be made in April 2008 to offices which have completed their deployment of the agreed unit plan in Phase 2 of the modernisation process.
• The remaining potential dividend payment from ColleagueShares scheme over this year and next, split as follows:
o £400 for achievement of Group profit in 2007/08
o £200 for achievement of the local target for 2008/09.
o £200 for achievement of Group profit in 2008/09

I GUESS GROUP PROFIT IN 2007/2008 IS A NON RUNNER ANYMORE AFTER TODAY'S NEWS!.

[Big Daz]

We have qualified for the £400


RM have sent a letter out, reached my office yesterday (saturday) being payed out on the friday 30th May

Pro rata is based on how many hours a week you are contracted to work a week and also if you joined up part of the way through the financial year its only payable from your start date.


It would be much more simple to give everyone £400 regardless of contracted hours or start date.