Money/Work

[fatboy]

Im getting ready for pay negotiations later this month so I have done a little research.
We've had 3 pay rises in 6 years, 1x2% and 2x1%, the last 1% rise was instantly absorbed by the Auto Enrolment Pension thing.
I looked at the total % of inlation rates since 2008 when I started work there,,the total is 16.39 % so we are on a wage cut of around 12.4%.
I also looked at how inflation has eroded the value of money, so what was worth £100 in 2008 is today worth £85.92
A quick look at my company's financial report reveals revenue of more than £1.4bn, underlying profit up 90% and share earnings up 41%.
I want a fight !

[BikerGran]

It's kinda scary looking at those figures - we're both retired, we get small increments, but that shows just why we can't make ends meet! At least it's not my fault!

[Dalemac]

Yeah, but Kleptocracy.

[Willopotomas]

Go gettum, Tiger..

[lazarus]

Im getting ready for pay negotiations later this month so I have done a little research.
We've had 3 pay rises in 6 years, 1x2% and 2x1%, the last 1% rise was instantly absorbed by the Auto Enrolment Pension thing.
I looked at the total % of inlation rates since 2008 when I started work there,,the total is 16.39 % so we are on a wage cut of around 12.4%.
I also looked at how inflation has eroded the value of money, so what was worth £100 in 2008 is today worth £85.92
A quick look at my company's financial report reveals revenue of more than £1.4bn, underlying profit up 90% and share earnings up 41%.
I want a fight !

The comparison with profits is a misleading one - when did you ever have your income cut by a large percentage or altogether eliminated as happens with companies? Not that I would trust published accounts as far as I could throw them. Altogether too many fiddle factors allowing profits to be raised or lowered. Instead look at the free cash flow which cant be fiddled or look at the corporation tax paid and gross it up to see the profit figure the HMRC are working on.

There is a market in which your company operates and which dictates the prices it can charge. Exactly the same thing applies to your labour. Govt stats show the average reduction in real wages is 8.6% from 2009 onwards so if your figures are correct then you have lost out.

I always responded far better to unions offering something as well as asking for something. So what about some sort of productivity deal that would allow them to give a 5% increase? Think about it.

[mangocrazy]

Im getting ready for pay negotiations later this month so I have done a little research.
We've had 3 pay rises in 6 years, 1x2% and 2x1%, the last 1% rise was instantly absorbed by the Auto Enrolment Pension thing.
I looked at the total % of inlation rates since 2008 when I started work there,,the total is 16.39 % so we are on a wage cut of around 12.4%.
I also looked at how inflation has eroded the value of money, so what was worth £100 in 2008 is today worth £85.92
A quick look at my company's financial report reveals revenue of more than £1.4bn, underlying profit up 90% and share earnings up 41%.
I want a fight !

The comparison with profits is a misleading one - when did you ever have your income cut by a large percentage or altogether eliminated as happens with companies? Not that I would trust published accounts as far as I could throw them. Altogether too many fiddle factors allowing profits to be raised or lowered. Instead look at the free cash flow which cant be fiddled or look at the corporation tax paid and gross it up to see the profit figure the HMRC are working on.

There is a market in which your company operates and which dictates the prices it can charge. Exactly the same thing applies to your labour. Govt stats show the average reduction in real wages is 8.6% from 2009 onwards so if your figures are correct then you have lost out.

I always responded far better to unions offering something as well as asking for something. So what about some sort of productivity deal that would allow them to give a 5% increase? Think about it.

Fairly clear to see which side of the "them and us" divide you stand on, then...

[fatboy]

Lazarus, I wish things were that simple ! Our work load has increased by about 40%, our fleet has increased by 50% but the thinking behind the show has increased by 0%.
What has been common practice for years is now being demanded of us, by this I mean crews in early,sorting lorries and paperwork and leaving early to beat the traffic ( all unpaid work ).
Our hours are 07.30 to 15,30, we do not get paid overtime fullstop but are expected to work until everything is finished, all un paid.
The reward for this is to be told' You have to ****ing do it, if you dont like it **** off, plenty of other people will do it and be glad they have some ****ing work.
So I dont really see what more there is to offer, the more we do, the more they expect and demand.
Please dont assume I begrudge working, Im 52 and far fitter than most teenagers because I graft for a living

[BikerGran]

Do you by any chance work for the Royal Mail (or whatever its latest name is)?

[Paulh]

Things are still tough out there in some industries - our workload has increased dramatically in the last year, but in consecutive years we have had

20% cut
0%
0%
0%

Waiting with baited breath for this years review

[fatboy]

I do appreciate these are difficult times and some buisnesses have had to decrease wages in order to survive but when your company has a global turnover of £8.8bn and the lowest pay scale earns £1.15 per hour less than the 'living wage' then there is clearly something very wrong

[Willopotomas]

Fair big difference between turnover and profit. Not backing the corporate corner at all.. But some firms are so poorly run, they hardly make any money. For instance, our arch rivals went bust a couple of years ago. They undercut us by a fair margin, so was bound to happen. We were going to 'buy' the firm in question, so were privy to the accounts. They turned over £850,000 (or there abouts) but made a whopping £25k profit.. Needless to say we didn't bother buying the place as they owned nothing as it was all asset financed.

Just saying, like.

[fatboy]

I understand what you are saying Will, we were recently bought out for £155m and it all looked good on paper.
I was speaking to a driver, he earns approx. £1,300 pcm, his rent is £850 pcm, add on gas electric council tax and the bill is £1,050 pcm, he gets out of the shit because he gets £450 pcm in tax credits for his kids so that means as a tax payer you are subsidising my employer for paying a shit wage.
We are the only depot in the country running at a profit, yet we earn 20% less than Bristol, 5 miles up the road, they ran at a loss of over £7m last year .Hopefully you can see the reason in my disscontent.