Pay rise %

[postslippete]

Pure speculation here but Martin Walsh said on the video regarding pay that for every 1% increase apparently equates to a £50 million cost to the business. So if RM is hoping to save at least £300 million on USO reform, would it be able to afford over 6% when that doesn't include any extra costs involved for also upgrading part-time to full-time contracts, improved SSP, the improved VR terms to one year and equalising new entrants?

You can find how much a % pay rise would be worth here

https://www.omnicalculator.com/finance/pay-raise

[Rommagic]

Funny how a 1 per cent rise was £30m back last year.

[ted_e_bear]

Funny how a 1 per cent rise was £30m back last year.

Was it, yes that's a bit funny especially taking into account there'll be more staff this year on lower pay new contracts.

[postslippete]

Funny how a 1 per cent rise was £30m back last year.

It is likely that the figure MW quoted has been inflated to include the other costs.


Theoretically, if the business has 130,000 full-time staff then a 1% pay rise would likely cost RM just under £35 million a year.

£5.14 extra per week x 130,000 staff = £668,200 per week x 52 weeks = £34,746,400


That said, IDS also suggested that NI increases would add £120 million to IDS's annual costs but this figure seems massively over-inflated to me!!

[milly]

Funny how a 1 per cent rise was £30m back last year.

It is likely that the figure MW quoted has been inflated to include the other costs.


Theoretically, if the business has 130,000 full-time staff then a 1% pay rise would likely cost RM just under £35 million a year.

£5.14 extra per week x 130,000 staff = £668,200 per week x 52 weeks = £34,746,400


That said, IDS also suggested that NI increases would add £120 million to IDS's annual costs but this figure seems massively over-inflated to me!!

Inflated or not, Labours jobs tax will still be a massive burden to the company for which we will suffer.
It's not all bad news, as we will all benefit from an improved NHS, amongst other things, as Labour will surely spend this money wisely.

[qwerty2]

Funny how a 1 per cent rise was £30m back last year.

It is likely that the figure MW quoted has been inflated to include the other costs.


Theoretically, if the business has 130,000 full-time staff then a 1% pay rise would likely cost RM just under £35 million a year.

£5.14 extra per week x 130,000 staff = £668,200 per week x 52 weeks = £34,746,400


That said, IDS also suggested that NI increases would add £120 million to IDS's annual costs but this figure seems massively over-inflated to me!!

Inflated or not, Labours jobs tax will still be a massive burden to the company for which we will suffer.
It's not all bad news, as we will all benefit from an improved NHS, amongst other things, as Labour will surely spend this money wisely.

130,000 FT? Sounds too many! Aren’t there more PT than FT?
Anyone know the figures for the whole of RM and just on deliveries?

[milly]

For an employee earning £30k a year it will cost Royal Mail an extra £866 in national insurance.
Cheers Rachel
https://perrysaccountants.co.uk/news/em ... e-increase

[SpacePhoenix]

Funny how a 1 per cent rise was £30m back last year.

It is likely that the figure MW quoted has been inflated to include the other costs.


Theoretically, if the business has 130,000 full-time staff then a 1% pay rise would likely cost RM just under £35 million a year.

£5.14 extra per week x 130,000 staff = £668,200 per week x 52 weeks = £34,746,400


That said, IDS also suggested that NI increases would add £120 million to IDS's annual costs but this figure seems massively over-inflated to me!!

Inflated or not, Labours jobs tax will still be a massive burden to the company for which we will suffer.
It's not all bad news, as we will all benefit from an improved NHS, amongst other things, as Labour will surely spend this money wisely.

130,000 FT? Sounds too many! Aren’t there more PT than FT?
Anyone know the figures for the whole of RM and just on deliveries?

Don't think there's even 130,000 staff anymore. Think it was 80 something thousand mentioned in another recent thread.

[mjd24]

For an employee earning £30k a year it will cost Royal Mail an extra £866 in national insurance.
Cheers Rachel
https://perrysaccountants.co.uk/news/em ... e-increase

Genuine question :

Is there anything Labour/Starmer could do that you would approve of?

What are your thoughts on today immigration stuff for example?

[Perseus]

What was the timescale again for these pay talks?

[milly]

For an employee earning £30k a year it will cost Royal Mail an extra £866 in national insurance.
Cheers Rachel
https://perrysaccountants.co.uk/news/em ... e-increase

Genuine question :

Is there anything Labour/Starmer could do that you would approve of?

What are your thoughts on today immigration stuff for example?

Taxing jobs isn't something I approve of, especially when there's a good chance of losing ours due this insane policy.
With regards to immigration, TTK will do absolutely nothing, if anything I expect it to massively increase as TTK is a pathological liar.

[Rommagic]

What was the timescale again for these pay talks?

Until this wed 14th may talks.

[Perseus]

What was the timescale again for these pay talks?

Until this wed 14th may talks.

Thanks, thought it was something like that.

[postslippete]

130,000 FT? Sounds too many! Aren’t there more PT than FT?
Anyone know the figures for the whole of RM and just on deliveries?

Firstly, I've assumed that there are 130,000 RM employees based on this

https://www.royalmail.com/sustainabilit ... connected.


And secondly, it is too many full-timers that are employed in RM which is why I emphasised theoretically because a 1% pay increase for a part-timer is not the same as a 1% increase for a full-timer. I was working on the principle of everyone being full-time and how much an overall 1% pay increase would cost and I expected that figure to exceed £50 million.

However, I was wrong and it actually costs the business a lot less than this, so the question then becomes, where did Martin get his figures from and why is a 1% pay increase costing the business £50 million?? When businesses or Unions throw out big numbers like this, they can obviously be framed to appear more or less dramatic depending on their agenda.

[toonshola]

What was the timescale again for these pay talks?

Until this wed 14th may talks.

Absolutely zero chance of the talks being concluded this week despite them sounding optimistic it could be done. The union will drag this until September/October so the backdated lump sum will hide the hideous deal they have negotiated. Happens every single time.