Organisation considered dropping payments after criticism by government ministers but board decided they were necessary to ‘incentivise’ senior staff
Australia Post considered scrapping controversial bonus payments to its executives last year, internal documents reveal, but the organisation’s board eventually decided they were needed to “incentivise” senior staff.
Australia Post’s reply, obtained under freedom of information laws, reveals the board justified the payments as “the most appropriate use of public resources” given increasing competition against “the largest and most innovative companies in the world” and “accelerated letter decline”.about whether Australia Post would continue to deliver letters on a daily basis
“This approach was discounted as it would limit the enterprise’s ability to drive performance through at-risk performance-based remuneration and create a significant fixed remuneration cost increase in ongoing enterprise costs,” Staines wrote, on behalf of the board. Staines said there was already “a high level of transparency” on bonus payments but outlined possible improvements, including periodic updates on incentives rather than annual disclosures.
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