Following the publication of our 2017 annual results this morning, our CEO, Steve Murrells, talked with colleagues in our Manchester support centre about them.
From expanding our academies, buying Simplify Probate, and some of our key financial figures, Steve explains what they mean for us. Here’s a four minute video of key points from that session:
NOTE: we know videos can’t be watched in store – but you can watch them from your own device, anytime, via the colleague site (coop.co.uk/colleagues) or by searching for ‘Co-op Colleagues’ on YouTube.
Or, here are the transcripts for:
Still no Group AIP announcement. . . its poor when internal communications make a commitment which is then not met. Coop Insurance were also made false promises that the announcement would land on Tuesday of last week and then further assurances it would be Thursday of last week. More false hope. We’re not children – if it’s going to be 2 or even 3 weeks then just say so. Knowing the confirmed timeline for announcements is better then conjecture and false promises.
Now, lets try this again . . . @ “Co-op Colleagues” . . when can we expect the Group AIP to be confirmed?
Hi there False Promises,
If you’ve heard promises of when they’ll be landing that hasn’t come from internal communications as we don’t drive the dates. I don’t think anyone should have been able to confirm a date to you of when the communications will be issued as its subject to a number of sign off procedures following the annual results announcements as you’d expect.
On Thursday of last week, we said below that we understood that direct communications would be sent in the coming days, which is still the case. ^Laura
Hi all – for anyone asking about bonus payments. We have a number of different schemes depending on where you work and which contract you’re on, so we’ll be communicating the outcomes of those within the coming weeks. For those on AIP it will be during the next few days.
Should have added…communications will be directly with anyone eligible for a particular scheme rather than on colleague stories. ^Laura
Is there any update yet on the AIP. We’re coming up to a fortnight since the results were released, and nearly a week since you advised it would be in the next few days. (Not forgetting being told in the Insurance huddle that we’d hear an announcement last week. I appreciate there’s probably some admin to be done in the meantime but it would be great to understand the process, as to me I struggle to imagine what’s known now, which wasn’t known to those making the decision on bonus’ several weeks ago.
Hi Andrew – yes the comms were shared with the leadership teams yesterday afternoon and colleagues on AIP will get an later email today. ^Laura
Excellant, thanks for the quick reply
Agree with Linda, would be great to know about whether Bonus will be paid or not!
Thoughts of 1000s of employees
re bonus-anything for funeral arrangers!!!
What exactly does this mean ?
The thing that really has struck a chord is school academies – the best example about what a co-op is all about. We know that we’ve got the swimlane of being successful as a society, but if we are it does then allow us to do the other swimlane of good stuff which is examples like school academies.
Hi Bamboozled. Steve was referring to the two bits of our Stronger Co-op, Stronger Communities ambition we launched in January – meaning that if we do well with people shopping and trading with us, then we’ll have more money to do good stuff for our communities, like academies. ‘Swimlanes’ is a term used in project and programme planning to show different activities running alongside each other. Hope this helps. ^Kevin
be nice to know if bonus is being paid?
or will the divi be started up again?
That depends on which Bonus you refer to. Contractual bonuses are still being paid, yes (store manager and above, depending on individual performance).
However I strongly suspect you refer to the Employee Member Dividend. Which won’t be paid this year, as the reports suggest “no distribution of profits will take place this year”.
It would indeed, effective communication is the key.
+1 My last comment about communication was, rather ironically removed.
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