FS Role What a waste of Money

[FinancialSpecialist]

I need to get a transfer to your office, I was in from 8:30 and just got home. I had a 20 minute lunch and a quick smoke all day. It tends to get very busy when all other staff are on scheduled tea breaks and lunch breaks, would be nice ;)

Printed off the document that was sent through to us today about the new scheme, but didn't get a chance to check the top performer's income levels. I was quite surprised that we will be getting zero income of mortgages. I wasn't aware that this change had been made as of the start of the current financial year and therefore the 3 applications which I have going through will now be worth nothing to me at all. There is an awful lot of work involved in finding mortgage customers who are eligible in the current climate, so I am a bit miffed to find out that the work was for nothing.

The savings income will boost our figures though, as growth bonds jump from £5 income to £17, Fixed ISAs from £2 to £9 and life from £20 to £44.32.

[Another Spartacus]

Check your figures Financial Specialist. Your office income will be £17 for growth bonds and £5 goes towards your commision. All office income rates are so far unchanged. £44.32 for a life and £20 goes towards your 'commision pool'

[FinancialSpecialist]

I'm pretty sure it is correct, the question and answer documents even has a question entitled "4. Why are we changing the measurement of income from FS Income to Business Income?". You will also notice that on the individual FS spreadsheets sent through from Bank of IReland, FS Income hasn't been mentioned since 1st April.

[Another Spartacus]

I'm pretty sure it is correct, the question and answer documents even has a question entitled "4. Why are we changing the measurement of income from FS Income to Business Income?". You will also notice that on the individual FS spreadsheets sent through from Bank of IReland, FS Income hasn't been mentioned since 1st April.

The way my fellow FS's and I read this was confirmed by our union rep who has been in branch and also emails us with all relevent CWU business relating to the FS role. TBH I do the FS role cos I love my customers/clients and no amount of commision or loss of commision will stop me doing everything I can to make their journey special and do my job less effectively.

[Another Spartacus]

Most FS's in my region are already measured on their ' income factor ' and not on the amount of sales that we generate. ISA transfers are not accepted as sales anymore either, even though we can spend many hours a week completing ISA transfers. How are you measured on your sales performance?

[PO1]

Check your figures Financial Specialist. Your office income will be £17 for growth bonds and £5 goes towards your commision. All office income rates are so far unchanged. £44.32 for a life and £20 goes towards your 'commision pool'

Allow me to say are we not in trouble when finanacial specialists can't even work out the bonus scheme.

Some of us mightn't be able to spell but at least we can add up!

[Another Spartacus]

Check your figures Financial Specialist. Your office income will be £17 for growth bonds and £5 goes towards your commision. All office income rates are so far unchanged. £44.32 for a life and £20 goes towards your 'commision pool'

Allow me to say are we not in trouble when finanacial specialists can't even work out the bonus scheme.

Some of us mightn't be able to spell but at least we can add up!

I agree PO1, but some FS's couldn't give a flying fig about commision. What you never had, what is there to miss?

[FinancialSpecialist]

I understand that we are targeted on income, what I am saying is that the old income factors of £20 for a life sale, £5 for savings, £2 for ISAs, etc, etc, seems to be becoming replaced by the branch income factors, it will now be exactly the same for both FS and branch. I think this is better and I it puts us in line with the branches which is a step forward. We were not previously told that the income factors had changed to become the same as the branch ones, which is the point I am making, however which is falling on deaf ears.

For example, say I did 10 car insurances this quarter without knowing that we were changing onto the new income structure, this means that instead of having £100 FS income generated for this, I now have £25.80. In the same way, if I had 10 growth bonds, this would now make £170 instead of £50.

It seems to be understood by most that the old FS Income factors have remained, but the new scheme suggests that this is not the case, check the Financial Specialists Commission Q&A sent through from the CWU today.

[Another Spartacus]

I understand that we are targeted on income, what I am saying is that the old income factors of £20 for a life sale, £5 for savings, £2 for ISAs, etc, etc, seems to be becoming replaced by the branch income factors, it will now be exactly the same for both FS and branch. I think this is better and I it puts us in line with the branches which is a step forward. We were not previously told that the income factors had changed to become the same as the branch ones, which is the point I am making, however which is falling on deaf ears.

For example, say I did 10 car insurances this quarter without knowing that we were changing onto the new income structure, this means that instead of having £100 FS income generated for this, I now have £25.80. In the same way, if I had 10 growth bonds, this would now make £170 instead of £50.

It seems to be understood by most that the old FS Income factors have remained, but the new scheme suggests that this is not the case, check the Financial Specialists Commission Q&A sent through from the CWU today.

The thing is love, have you ever earned commision? Are you likely to earn commision with the new FS structure? I doubt it, as many of my FS's collegues agree too. We are sc****d, fooked and shafted!

[FinancialSpecialist]

The thing is love, have you ever earned commision? Are you likely to earn commision with the new FS structure? I doubt it, as many of my FS's collegues agree too. We are sc****d, fooked and shafted!

Very true. I guess I am just naive in this way, I have assumed that although we won't get much but that we will get something. On quarters where branch hits gateway we will get less than the other members of staff and when branch doesn't hit gateway we may make some of it back, but not likely.

[PO1]

The thing is love, have you ever earned commision? Are you likely to earn commision with the new FS structure? I doubt it, as many of my FS's collegues agree too. We are sc****d, fooked and shafted!

Very true. I guess I am just naive in this way, I have assumed that although we won't get much but that we will get something. On quarters where branch hits gateway we will get less than the other members of staff and when branch doesn't hit gateway we may make some of it back, but not likely.

Spread this out over 30 years and then you might understand where us old timers are coming from .

[PO1]

Ignore this hacked post

[onlyanother30years]

It's my opinion PO1 that is all that matters.

If you love the FS role then that's your opinion and good for you.

[FinancialSpecialist]

I wonder when the results of the ballot will be made public? Voting closed on the 29th... all other ballot results have been available straight away. It would be nice to know what way the bonus will be working for us.

If the top performing FS in the country at week 13 completed 4 quarters with the same results, they would make approx £3450 under the new scheme split over the 4 quarters, on top of their branch bonus. I must stress that the top performers in the country are head and shoulders above anyone else and the vast majority of the FS would lose out against their colleagues when their branch hits their bonuses, but I suppose that is the point.

[Blue8]

Our office can't even get an FSS