|
|
|
 |
Salesforce Transformation Update
|
Date: 5th May 2004
Last year LTU told members that the Bank had initiated a long-term project, called the Salesforce Transformation Project, which would be looking at the salesforce of the future, including the size of the respective salesforces, the type of products they sell, how the current roles are differentiated and how they are rewarded.
LTU has begun discussions on a pay and reward structure for all Black Horse Consultants, SIAs, Financial Planning Consultants and Financial Consultants on the new package.
When the new FC package was introduced in July 1999 it was agreed that Financial Consultants would not be pressurised to transfer across and any decision to move would be a matter of individual choice. Since then we have had numerous discussions about harmonising the packages but those have always fallen down on the issue of the migration process.
Mark Brown, LTU’s Assistant General Secretary, has said that “… whatever proposals the Bank produces must guarantee that no Financial Consultants will be any worse off on a new, harmonised package. Moreover, should our current discussions get beyond the theoretical possibilities of a harmonised reward package for Financial Consultants then we will ask members for their views in a membership ballot before anything is finally agreed with the Bank.”
Target Review 2004
LTU and the Bank have agreed to undertake a formal review of both national and individual performance at the end of the first quarter to see whether the key performance enablers, which the Bank said would make the 5.5% increase in targets achievable, have actually delivered. That target review is commencing shortly.
 |
|
|
|
