- Regular full-time and part-time employees represented by CUPW are joining an existing incentive program.
- There is one CTI plan. Targets are national and the same for all eligible employees within the Corporation.
- 2006 targets are related to delivery performance, customer value index, employee engagement and financial performance.
- The incentive potential is the same for all regular employees represented by CUPW and it is set at three percent. This means a PO5 in Montreal will get the same percentage as a PO5 in Vancouver, a relief LC in Calgary or a relief LC in Halifax.
- An average annual payment would be in the range of $1,200 to $1,500.
- Payment of the incentive can still be made when targets are short of the 100% level and can be higher when targets are exceeded.
- For example, the 2006 preliminary results show the CTI will be paid out at 128.5%. If employees represented by CUPW had been participants, this would have meant a 3.86% payout(3% multiplied by 128.5%)
- CTI payouts are pensionable earnings.
- This incentive has been in place for some time for other unionized and management employees. Unionized participants include: PSAC/UPSE members, APOC members, CPAA members.
It should be noted that Canada Post did have an extra payout system which was given to retiring workers. This was the "Severance Package" which was discontinued in 2003.
I've tried to bring back a similar type of severance/longevity pay based on a bonus system on profits and unused sick leave, but this hasn't happened. The closest we can get at this time is the Corporate Team Incentive(CTI).
Thousands of other companies have similar bonus programs. It's basically profit sharing. If a CUPW member doesn't want his CTI bonus, he/she can always give it to charity.