SALES INCENTIVE SCHEME 2012/13 QUARTER 3 – JOINT STATEMENT

[POSTMAN]

TO: ALL BRANCHES WITH POSTAL MEMBERS

Dear Colleague

POST OFFICE: SALES INCENTIVE SCHEME 2012/13 QUARTER 3 – JOINT STATEMENT

I would like to advise Branches that payments for the Sales Incentive Scheme (SIS) for Q3 2012/13 will be made with January salaries. A Joint Statement confirming the Q3 arrangements is attached to this LTB for your information.

Bonus Payments for Q3 2012/13

Helped by a record Christmas period, Q3 was a good quarter in terms of sales performance, resulting in a total payout in bonuses of over £919k.

The highlights for Q3 are as follows:

• Total bonus payments of £919,384m, a £114,384k (14.2%) increase on the previous quarter

• 78% of Crowns will receive a bonus payment this quarter of £212.50 or more, with only 11 Crowns failing to achieve a payment

• For Quarters 1 – 3, nearly £2.8m will have been paid in SIS bonuses.

The following table summarises the Q3 results:

Band (%) Payment Q3 (No. of Crowns) Q3 (% of Crowns in Band)
115+ £362.50 25 6.8%
110.01 - 115.00 £357.50 32 8.6%
108.01 - 110.00 £327.50 32 8.6%
106.01 - 108.00 £303.75 24 6.5%
104.01 - 106.00 £280.00 25 6.8%
102.01 - 104.00 £262.50 37 10.0%
100.01 - 102.00 £245.00 25 6.8%
95.01 - 100.00 £212.50 88 23.8%
90.01 - 95.00 £106.25 52 14.1%
85.01 - 90.00 £62.50 19 5.1%
<85.00 £0 11 3.0%
Total 370 100%

Product Specialists (PS) and Financial Specialists (FS)

Around £35k will be paid to PSs in Q3, including £16k to Mails PSs and £19k to Travel PSs. A separate letter will be sent to PSs to confirm these payments.

For FSs, the total came to around £7k. A total of 43 FSs will receive a commission payment. FSs will also receive 100% of their Branch’s SIS and Boost your Bonus payments, assuming their Branch achieved a payment.

Boost your Bonus

189 members in the 20 winning Crowns under the Boost Your Bonus incentive will each receive an additional £100.

Quarter 4

The fourth quarter has started well, with current performance standing at 103.37% (as at the end of week 43). This is a good indication for a successful end to the financial year in terms of bonus payments. Members should concentrate on the following areas in order to maximise their bonus potential for the final period of 2012/13:

• Car Insurance
• Credit Card
• Home Insurance
• Life Insurance
• Telephony

There are promotions on these products until the end of March.

Any enquiries in relation to this LTB should be directed to Claire Sinclair csinclair@cwu.org or 020 8971 7361.

Yours sincerely

Andy Furey
Assistant Secretary