SALES INCENTIVE SCHEME & FINANCIAL SPECIALIST COMMISSION

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Letter to Branches




No: 366
Ref: 101
Date: 11th April 2011

To: ALL BRANCHES WITH POSTAL MEMBERS


Dear Colleague,

POL: JOINT STATEMENTS - SALES INCENTIVE SCHEME 2011/12 & FINANCIAL SPECIALIST COMMISSION SCHEME

I would like to advise Branches that we have agreed with POL two Joint Statements regarding the Sales Incentive Scheme (SIS) 2011/12 and the Financial Specialist Commission Scheme. Both Joint Statements are attached to this LTB for your information.

Sales Incentive Scheme

We have agreed to modify the weighted product categories within the SIS to ensure the scheme provides the best opportunity for members in Crown Offices to achieve maximum bonus potential for 2011/12.

Importantly, the overall structure and principles of the scheme remain. There will be a move back to the three product categories – Red (65%), Blue (25%) and Yellow (10%) to give an improved weighting of the key focus products. Payment gateways will remain the same, with a minimum 85% performance required for each quarter to achieve a bonus payment.

Key Revisions

The revised product groups are outlined in the attached JS; however, I have summarised the key modifications below:

The inclusion of Retail products within the scheme
Reinstatement of Credit Cards from 22nd April
Passports will be in the Blue Category for Q1 to reflect Easter campaign
Savings products will be in the blue and yellow categories
HomePhone and HomePhone Broadband combined will be in the Blue category from Yellow to reflect the Q1 customer campaign
E Top-ups to be removed from focus product due to a declining market

There will also be a Boost Your Bonus Scheme for Q1 and further details on this will follow.

The weekly tracker will continue to be provided to keep a record of your Crown’s performance and therefore your potential bonus for the quarter. The trackers for this year will commence from week beginning 11 April 2011.




Q4 2010/11 Payment

Members will receive details of their Q4 2010/11 payment and, where appropriate, annual catch-up payments, later this month. These payments will be made with May salaries.

I am confident that the continued fine tuning of the SIS products and categories will lead to improved opportunities for bonuses for our members. The scheme is dynamic and we need to constantly ensure it is relevant to the promotion of various products, which quite often change on a seasonal basis.

I would encourage members to actively promote the products outlined in the attached JS during Q1 2011/12, to gain maximum enhancements to bonus payments.

WTL Week Commencing 18th April

The revisions to the SIS outlined above will be presented during the WTL week commencing 18th April 2011. In the meantime, if you have any queries, please contact your Area Representative.


Financial Specialist Commission Scheme

Following feedback from Financial Specialist (FS) members via our Representatives, we have agreed to begin discussions with POL with regards to revising the FS Commission Scheme for 2011/12. The original Agreement contained a review clause to allow for such revisions. The new scheme will be specifically designed to incentivise FS members to sell more with the aim of making it easier for members to see how increased sales are linked to additional earnings.

Once we have agreed a revised scheme, it will be retrospectively applied to the start of the new financial year. Consequently, I would encourage FS do their best to increase sales in the crucial weeks ahead.

Further information will be reported in due course.

This LTB should be brought to the attention of all members working within POL Crown Offices.


Yours sincerely



Andy Furey
Assistant Secretary