Tag: UK

UK savers are base rate losers

Posted by | May 10, 2007 | |

As interest rates hit 5.5 per cent, the Post Office® reveals that savers are missing out on millions of pounds in interest by sticking with accounts that fail to pass on rate increases.

The savers failing to benefit from the full 1.00 per cent increase in rates in the last year are customers of some of the biggest banks and building societies on the high street.

The Post Office® announces that its Instant Saver rate will rise to 5.75 per cent1 from 4 June 2007. Instant Saver customers will also benefit for even longer by a promise to pass on base rate rises in full until January 2010. This makes Post Office® Instant Saver the UK’s best instant access savings account.2

Savings rates paid by banks and building societies can quickly become uncompetitive when base rates increase. For example, a balance of GBP 5,000 held in a typical instant access high street savings account3 would lose out on GBP 145.00 in interest payments in the first year compared to an identical balance in a Post Office® Instant Saver account. For balances of GBP 10,000 or GBP 25,000 losses rise to GBP 276.00 and GBP 660.00 respectively.

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Royal Mail’s apprenticeship scheme shortlisted for prestigious awards

Posted by | May 10, 2007 | |

Royal Mail’s commitment to the workforce of the future has won its apprenticeship scheme a coveted position in the shortlist for the 2007 World Mail Awards prize.

Seen as the “Oscars” for mail companies around the world the Royal Mail scheme is vying for top honours in the People Management section of the awards.

Since its launch in 2005 the Apprenticeship Scheme has established its own qualification framework by working with outside bodies, including the Sector Skills Council, and has already seen a huge jump in the retention rates of young people and a drastic reduction in the levels of sickness.

Royal Mail’s Skills Deployment Manager Cheryl Simons said: “Prior to the introduction of the Apprenticeship Scheme Royal Mail identified specific problems with the young people who joined the organisation. The scheme aimed at attracting, developing and retaining high-calibre postmen and women, developing talent and managers of the future and developing business culture at the front line of the business.”

The scheme is open to new and existing employees aged 16-24. Recruits follow a flexible 18-month programme and as well as undertaking a full range of tasks across the business they complete a Level 2 NVQ in Mail Services. The scheme also allows the identification of some recruits to be a coach to other apprentices or manager in the future.

The World Mail Awards aims at encouraging best practice within the mail industry worldwide. The People Management award recognises that postal authorities are among the world’s largest employers and internal relationships and good people management significantly reflect on the competitive advantage and success of the company.

Final judging will take place hours before the gala dinner on May 21st at the Novotel London West Hotel, London.

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Doors open on 100 new jobs and GBP 7m TNT investment in the UK

Posted by | May 9, 2007 | |

TNT UK has invested GBP 7 million and created more than 100 new jobs in the Leyland and Preston area as part of its drive to consolidate its market-leading position.

The 10-acre site at Aston Way, Moss Side Park, is the latest addition to TNT’s nationwide network of more than 60 depots. Handling tens of thousands of business parcels and packages every week, the depot provides a critical strategic link for businesses throughout the North-West and up into Scotland.

Employing a total of 145 staff, the depot is the largest TNT depot in the UK and with 67-loading bays.

The depot, which became fully operational last autumn, is at the leading edge of innovation for TNT. New high-tech scanning devises for warehouse staff, ‘in-cab’ mobile worker units for drivers and the latest sortation machine technology were all trialled at Preston before being rolled out to other TNT depots around the UK.

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The Post Offices sets up new service

Posted by | May 9, 2007 | |

The Post Office has set up a service allowing companies to distribute incentive payments more cheaply than by cheque. The service sends out a barcode by text, email or post, which can then be exchanged for cash at any Post Office

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