stv Staff Offered Improved Pay Structure

After being initially told there would be no pay increase this year, staff at stv have been told there will be – but only if they want it.

Last month (see here), staff were told there would be a pay freeze this year, to be compensated for by the prospect of a large profit-related bonus next year.

But now they have two options: 1. Receiving their pay award now, with the option of achieving a bonus at the end of the year on exceeding profit targets; or 2. Deferring their pay award until end of this year but with the opportunity to receive a larger bonus on exceeding profit targets.

Both options contain an element of profit-sharing.

It is understood the relevant figures are: three per cent for option one (plus a sliding scale of bonuses thereafter) and between five and seven per cent (plus, again, the sliding scale) for option two. And