Team Managers about to get demoted-lose pay!

[MerchMan007]

Maybe ask your manager ? 

[KELTIKKING]

The reason I am asking the question about the latest date I can inform my manager of which I wish to take redundancy is because I am yet undecided because I have options in Tesco and externally hence asking the question

[Sherwoodforest]

@keltikking surely that forms part of your consultation meetings q and a,s ?

[Redshoes]

The reason I am asking the question about the latest date I can inform my manager of which I wish to take redundancy is because I am yet undecided because I have options in Tesco and externally hence asking the question

Is there someone else that's in the balance and waiting on what you decide. They are well underway and interviewing and recruiting for job share role in my store. The idea is that there is a little bit of time to train. We are a bit late off the mark with this but only one more candidate to interview and then they can decide.
I have asked very little in my consultation interviews but I have discussed the implications of my different options with my store manager. It is the third time I have been through a consultation process though so not a lot to learn. Most of my questions relate to my own financial well being going forward.
I'm taking redundancy and my questions have been about my pension, for example I know I can put a lump sum into my pension but as I am only two years off retirement I'm unsure if I should top it up by two years of contributions or if I should put in more. I have very little trust in financial advisors as at the end of the day they just want to sell me something. I have talked to a couple but they have evaded my questions and just want to reinvest my pension. I know several people who have done this and the pension has lost money so I'm reluctant. I understand that it's all a gamble but I don't want a high risk option and I have said so. The financial advisors I have spoken to so far are not interested in my lump sum, only my existing pension.

[Vitascope]

Anyone who's taking redundancy seen the their new holiday balance would we get any of it?


Plan Balances
Balance As-of Date      
Last calculation date
Balance As-of Date
Banked Holidays
36h
Calculated On     31-03-2023
Carried Holiday - Family Leave
0h
Calculated On     31-03-2024
Carried Holiday - Long Term Absence
0h
Calculated On     31-03-2024
Holiday
72h 45m
Calculated On     31-03-2024
Personal Day
1    Days
Calculated On     31-03-2024
Load

[NorthbyNorthwest]

The only thing relevant to you in regards to holiday is anything calculated to/on 31/3/23.
On my screen my accrued hours ( yes I've been here that long ) are 216 hours. I will be paid that when I leave. You may earn some hours in the next four weeks, but if you're not working Good Friday or Easter Monday, these may get eaten up by these days. You may also end up owing hours.
From memory, your personal day would be paid back if you've taken it prior to September, worth checking on 'Colleague Help' though.
As a final tip, if working the Bank Holidays, make sure you put in for your bank holiday premium on Work & Pay. It will help a little bit to bump up your redundancy package ( well, at least buy you a meal deal and a chocolate bar )!

[Teddybonkers]

Maybe ask your manager ? 

You can't be serious 

[Davethebave]

The reason I am asking the question about the latest date I can inform my manager of which I wish to take redundancy is because I am yet undecided because I have options in Tesco and externally hence asking the question

The very last day you could say you're taking redundancy would be at the end of a four week trail period in day a shift leader role. This would cause your redundancy to be lower tho as the four week trail is counted as you "working your notice".

All information is on colleague help

[JFDI]

Redshoes, sign up to Moneysavingexpert.com, retirement and annuities forum. I was also made redundant with over 30 years service. I had both the closed defined benefit pension and the current defined contribution pension and like you, was just a few years away from retirement. The guys on there were very helpful. I gave some basic details around my situation and they helped me decide the right way forward for me. I did invest a chunk of my redundancy back into my pension and as such, I didn't pay any tax on any of my redundancy package.

[OldTimer]

Good tip from JFDI...especially if your over 55 bang anything over £30k to your L&G retirement savings plan especially if you don't need the money immediately it can increase the 10% amount you can take take tax free and saves a bit of tax. If you've SAYE savings you'll be able to use savings to buy at the option price plus any SIP shares you might have will also get released so maybe worth looking at putting into a ISA. I'm taking redundancy after 30 plus years as long as no one resigns  I'm 60 plus so been checking out options its no brainer for me have had a great career with Tesco the new roles    

[5fdp]

'OLDTIMER' enjoy your retirement. People that are getting made redundant.  Get off your arse and do some work for yourselves. Look at your financial situations and decide what's best for you. Nobody is going to do it for you. Step up and do it. Some of you seem to go down with a flesh wound, rambo got shot, and covered in mud (no paper cuts) and still managed to save the free world from megalomaniac. Next round on the blue nose thats always second best.

[Davethebave]

The simple things..

Any else being made redundant?

Get on to your pension contritions, set it to max this month, they have to match it. Might only be an extra £20 or £30 but it's better in our pockets than tescos

[Redshoes]

Redshoes, sign up to Moneysavingexpert.com, retirement and annuities forum. I was also made redundant with over 30 years service. I had both the closed defined benefit pension and the current defined contribution pension and like you, was just a few years away from retirement. The guys on there were very helpful. I gave some basic details around my situation and they helped me decide the right way forward for me. I did invest a chunk of my redundancy back into my pension and as such, I didn't pay any tax on any of my redundancy package.

Many thanks, I will do that.

[Justanumber]

A bit unrelated but was unsure on how to create a new post.

For managers that were 'lucky' enough to retain a job at Tesco. Has there been any leak about pay rises.

Also, my line manager has taken a Strong disliking to me and has graded me 'below expected' at full year. How will this affect my pay rise. Thanks
Welcome.  Ref: starting new topics.  Please read VLH Supporter Benefits.  However your question sort of fits in this topic.

[Banbridge]

Any mention of a manager payrise? Just curious as to shift leader role and hourly rate. Are shift leaders allowed to run a shop on nights by themselves also in the absence of management? Surely huge responsibility for little wage.

[ImBackBaby]

Was there not something a few months back that all managers pay was being brought into line, so the starting rate is now 26k, if your are not on that rate you will be, and if you are then you will just get the standard % increase? I know from speaking to a few managers, they are a bit upset off, on one hand everyone is getting a higher salary if just starting out or only in the job a few years. Other side, managers who have hit there cap still not getting anything.

[Seymee]

It looks like leggings will be banned from week 10. Anyone else had the info come down yet?

[Nightworker]

As I am taking redundancy does anyone know how I can put part of my redundancy into my pension
Can't seem to get any answers

[Themachine]

Ask your store manager for a TRSP pension contribution on redundancy form - they will have to contact the people partner for it

[Redshoes]

As I am taking redundancy does anyone know how I can put part of my redundancy into my pension
Can't seem to get any answers

I have emailed the pension team. I ave not heard back yet but last time I asked them something by email they replied by letter.

[Nightworker]

As I am taking redundancy does anyone know how I can put part of my redundancy into my pension
Can't seem to get any answers

I have emailed the pension team. I ave not heard back yet but last time I asked them something by email they replied by letter.

What's the email address Red

[Redshoes]

Go on colleague help and there is a list of contacts. Once we are finished in work we don't have access to all of this so I have printed it out ready.  The contacts for the pension people are part of this.
I have always given this list to colleagues as they have left and given it to myself now.

[MAI]

What is a typical structure now in say an Extra/Superstore?
It used to be....
Store Manager WL3 Package of say 80-100k
Lead Grocery, Non Food, Fresh Food, Personnel, Nights and Front End WL2 Package of say 35k-45k
Line Managers, Loads all on 22k-28k
Then a load of team leaders and GA's
I take it these days are long gone now

How do you move from a Team Manager on 25/30k to a WL3 Store Manager if there is no lead team, the jump seems huge and the salary gap also huge.

Express Store Manager seemed to be the WL2 role that nobody wanted to do, ever. You couldn't get ANY senior team from extra's and superstore's to move to Express, but is that now the complete reverse?

Also, I heard Express store managers all had their bonus took away and salary uprated, and now a few years later, they've decided to put the bonus back in, does this mean this is the most lucrative role to progress to now?

[NightAndDay]

Express SMs get bonuses, peak salary outside of London in a non-fuel site express is apparently capped at £45k with average salary being around £36k a year, this is to be uprated in May.

Lead Team still exists, but next progression from TM tends to be Express SM, then Express SM to lead team.

TM salary is now at a minimum of £26k a year, suspect it to go up to £28k a year minimum from May seeing as SLs are now basically on £26k a year (with premium payments and normal amount of overtime.)

There are accounts of Team Managers being on around £50k a year maximum, but not verified, I believe the range is now £26k-£41k a year with average earnings being around £32k a year.

[Redshoes]

We only have two metro stores in my group, no express stores. There has been progression for senior team to store managers and they have to go to via the metro store. My store is a SS and we never keep our store managers long as the come to us from one of the metro stores and then go on to a larger store after 2-3 years. We always seem to be a high performing store so SM just pass through.
Managers tend to travel to work, after restructure the two remaining managers travel 20 miles to work. SM manager about 20 miles. Shift leads are mostly local.
As a SS we go to 1 Store manager, but he is expecting to have to manage two stores in time. There will be 2 managers, 1 18 hour C@C shift lead, 3 full time shift leads and one on 27 hours.