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Post Office Ltd
& CWU National Agreement
Sales and Profit
Incentive Scheme
for CWU represented grades
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Contents
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Sales and Profit Incentive Scheme
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SALES & PROFIT
SCHEME
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Introduction
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Introduction
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Eligible Grades
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Measures
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A new Sales
and Profit incentive scheme, for CWU grades will commence on 1
April 2005,
and will be in place for a period of 2 years.
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Bonus available and Payments
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Quarterly and End Of Year Achievement Review
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Eligible Grades –
Permanent or Temporary
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Deputy
Branch Managers
Postal
Officers
Postal
Assistants
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Retail Assistants
Data
Processing Grades
Customer
Service Advisors
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Typists
Secretaries
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Management Information
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Review
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ELIGIBILITY RULES
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Temporary
promotion to CM Grade
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Part-time Staff will receive pro rata payments
according to their actual hours (i.e. contracted and non contracted) of employment
per week up to a maximum of 35 or 36 hours, as appropriate.
Casual staff are not eligible for an incentive payment
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Movers between Teams
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Interbusiness
transfer of staff
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Eligibility
Periods
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Staff not eligible
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Table
1 Bonus worthy absences
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Measures
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Table
2 Bonus when leaving business
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The scheme is made up of the
following two measures
1.
Branch office achievement against the total income target for the 13
Focus Sales Products - and these are shown below:
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Banking
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Financial Services
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Mail
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Telephony
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Travel
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Cash withdrawals
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Saving Products
Car Insurance
Home Insurance
Personal Loans
Credit Cards
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Special Delivery
1st Class Stamps
1st Postage Labels
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HomePhone
Phone Cards
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Bureau
Travel Insurance
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The overall target will
equate to the total Focus Sales Products income target for the Directly
Managed segment in order to achieve the Post Office Ltd business plan.
Focus Product Sales
targets have been set on the basis of: (i) Post Office Ltd targets set by
category managers based on market research on a product-by-product basis, and
(ii) these targets have been translated into branch targets which will form
part of Sales Account Managers, HoS and GM overall targets.
1.
Business achievement against its profit target
This will be the business profit target measure,
which is agreed between PO Ltd and RM Holdings Group at the beginning of the
year. The target is tracked monthly by the business and audited on a
quarterly basis.
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Bonus Available and
Payments
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Both measures attract a quarterly payment
based on the achievement outlined in the matrix below. For both Focus Products
and Business Profit targets have been set, and it is the achievement against
these two targets, which determine the amount paid each quarter.
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Annual Amount
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Business Profit Achievement
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<100%
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100% >
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105% >
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110% >
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115%
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120% >
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125%
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130% >
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1
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1.11
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1.25
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1.375
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1.50
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1.625%
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2
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Focus
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95%
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300
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600
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670
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750
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830
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900
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980
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1200
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Products
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100%>
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600
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1000
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1110
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1250
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1380
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1500
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1630
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2000
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Total
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105%>
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700
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1050
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1170
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1310
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1440
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1580
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1710
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2100
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Income
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110%>
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800
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1150
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1280
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1440
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1580
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1730
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1870
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2300
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Achievement
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115%
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900
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1230
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1360
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1530
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1690
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1840
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2000
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2450
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120%>
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1000
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1300
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1440
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1630
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1790
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1950
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2110
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2600
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125%>
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1100
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1375
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1530
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1720
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1890
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2060
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2230
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2750
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130%>
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1200
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1450
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1610
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1810
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1990
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2180
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2360
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2900
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Quarterly
Payments
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Business Profit Achievement
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<100%
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100% >
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105% >
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110% >
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115%
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120% >
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125%
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130% >
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