Incentive and Bonus Program For Canadian Posties
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* All employees will get non-transferable non-saleable "shares" in Canada Post. There are two different types. One is "a retirement share" based on the surplus in the pension fund. The other is "an incentive or dividend share" based on the profits of the Corporation.
* When a person is hired, he gets one retirement share a year to a maximum of 35.
* Of course, all types of shares pay dividends that are RRSP eligible.
* "Incentive shares" are earned by meeting or exceeding delivery targets and lowering the amount of overtime in a facility, section or value stream on a monthly and yearly basis while still meeting delivery targets.
* I see "incentive shares" going to the employees in a section that works and produces very well as team.
* When a person retires, he cashes all his shares in for a severance pay-out.
* Both the union and management would be involved to see that the program was run fairly.
It is highly likely that the value of these shares and their dividends would exceed any severance package by thousands of dollars.
With these incentives in place, employees would work harder, more efficiently and get more mail to the customers quicker. This would improve revenue flow and increase customer satisfaction.
Less overtime while maintaining delivery standards would lower costs substantially.Employee job satisfaction would rise because their hard work and resourceful actions would be rewarded.
Posted by qualteam
at 6:26 PM EDT
Updated: Sunday, 20 July 2003 6:31 PM EDT
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