First time to post on here but i sent HR an email to see what the response was regarding the scheme over the weekend below is the questions i asked and quoted is the response i got.
I'm just curious about the colleague share scheme and if it's still in effect for this year.
Are we due a payment in 2011? if so what month is it due to be paid out?
Is the share scheme attached to any other form of terms and conditions for example my office meeting certain requirements before it's paid out?
Also if it is due to be paid out this year is the scheme in anyway at all linked with the £600 we are supposed to be getting with the way forward agreement (i think it's called that) or would we be paid the scheme seperately then paid the £600 with the way forward agreement. (or are they just the same payment?)
I also went from part time 35 hours to full time in 2009 so will i now recieve the full payment or only what it shows on the letter from 2007/2008
will we be getting any type of correspondance regarding the share scheme as i was expecting some form of letter in the post but nothing so far has been sent explaining whats going on with the scheme this is why i have resorted to sending an email to yourselves.
ColleagueShares are scheduled to be bought back starting in the first half of 2011. We are awaiting confirmation as to when and how the scheme will be conducted.
As to links between the ColleagueShares scheme and the Business Transformation Lump Sum, the final share allocation was converted into a £400 lump sum which comprises part of the £1000 Business Transformation Lump Sum. Payments are made when various Business Transformation mileposts are passed at each office, the mileposts set according to the type of office concerned; collections staff would have different parameters to meet compared to delivery staff, for instance. Business Transformation Lump Sum payments are individually calculated on hours worked in the previous 12 months for each person, so recently changing from part time to full time would alter the amount paid.
ColleagueShares payments should be based on the person's allocation of ColleagueShares and not their hours. Allocations were made on the hours worked in the qualifying period prior to the allocation and hence are fixed. Any change in hours since will not affect the number of ColleagueShares allocated to a person.
123rfraser wrote: I got the shares when i was full time but went part time in November so will my payment be pro rata or should i get the same as full timers?
I would of thought as you 'have' the full amount of shares you should get the full lot.
Just spotted this...
ColleagueShares payments should be based on the person's allocation of ColleagueShares and not their hours. Allocations were made on the hours worked in the qualifying period prior to the allocation and hence are fixed. Any change in hours since will not affect the number of ColleagueShares allocated to a person.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been. My BFF Clash The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been. My BFF Clash The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
123rfraser wrote: I got the shares when i was full time but went part time in November so will my payment be pro rata or should i get the same as full timers?
Wrote this bfore i seen the top bit! At makes more sence .. ats what i thot thanks! ..... was told i would get pro rata shares from my boss but i thot she was wrong.
Thorby Bislam wrote:You went from part time to full time !
Way to go, Jinxy. You're bucking the trend there, mate.
Haha yeah i threatened them with industrial action if they didn't put me to full time (someone who had been there a week less than me had gone to full time) took me 3 months of politely asking to go to full time got fed up sent them a letter of my plans a week later i was full time
anyone know anything about those phantom shares we were supposed to own are we due a payment regarding them ? i'm not holding my breath that we are, we all know anything we get offered by royal mail is normaly a con !!!!
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been. My BFF Clash The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
scooby40 wrote:anyone know anything about those phantom shares we were supposed to own are we due a payment regarding them ? i'm not holding my breath that we are, we all know anything we get offered by royal mail is normaly a con !!!!
Yes
You sell half back this year and the other half back next year.
As to the value of the shares, last year when the BT2010 agreement was made they were worth £1.51 each. That figure may have gone up at buy back but equally could go down.
If we did such a fantatstic job over December and over the last 3 weeks as well, then that should add value to RM should it not? A dedicated workforce outshing its rivals should make RML a HOT company and can be used to boost the vale of the company?
Politically I think they need to be carefull as the government may have ideas as to what they would like/hope/expect RM to be valued at. The valuation must be such so as not to upset the apple cart.
Big Daz wrote:
Politically I think they need to be carefull as the government may have ideas as to what they would like/hope/expect RM to be valued at. The valuation must be such so as not to upset the apple cart.
Big Daz, you have fallen for Allan Leighton's biggest con. ColleagueShares are NOT actual shares of Royal Mail plc.
The profit-sharing scheme that Leighton misleading labelled ColleagueShares is merely a tool (like the man himself ?) to distribute a small percentage of group profit back to the employees.
In a stock-market listed company, you can calculate the 'value' of the entire company by multiplying the share price by the total number of shares issued. You can't do that with ColleagueShares !!
Big Daz wrote:
Politically I think they need to be carefull as the government may have ideas as to what they would like/hope/expect RM to be valued at. The valuation must be such so as not to upset the apple cart.
Big Daz, you have fallen for Allan Leighton's biggest con. ColleagueShares are NOT actual shares of Royal Mail plc.
The profit-sharing scheme that Leighton misleading labelled ColleagueShares is merely a tool (like the man himself ?) to distribute a small percentage of group profit back to the employees.
In a stock-market listed company, you can calculate the 'value' of the entire company by multiplying the share price by the total number of shares issued. You can't do that with ColleagueShares !!
I think he realises that as indeed he has pointed this out before. Without wanting to put words into his mouth, I think what he is saying is that the value that RM put on the colleagueshares will have a Political impact if they value RM too far in any direction. If they value it too high then people will ask why are we privatising or selling off such a successful company. If they value it too low, then they will be accused of setting it up so foreign investors can snap it up.
They have a fine line to tread and whatever their decision it will have an impact even though they are not real shares.
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CS scheme can give a rough indication of the value of RMG. I say rough as POL will not be sold and CS is group wide and not limited to RML. No doubt MP's will make use of the CS value in their debates in parliament. If the price the government sell is massivley different from CS then questions will be asked as to why sucha difference has come to exist.
I got the shares when i was full time but went part time in November so will my payment be pro rata or should i get the same as full timers?
