Nick Read: ‘Why the Post Office is putting store owners on our board’

These men and women are businesspeople often considered the pillars of our local communities. They keep their branches open, no matter the circumstances, providing vital services and support to these communities. 

With such a dedicated and enterprising group, I believe postmaster representation on the board is the right way forward for Post Office Limited.

Every organisation is different, not least the Post Office. As such, I can only tell you why we have made this decision and where I believe it can take us. I hope our decision will prove an example for others to emulate – I believe it will.

“We are determined to create a genuine partnership with our postmasters, and this initiative reflects our commitment to that end”

We are creating a non-executive director position on our board for a serving postmaster, advocating for the interests of more than 8,000 postmasters.

We are determined to create a genuine partnership with our postmasters, and this initiative reflects our commitment to that end. 

Since joining the Post Office a year ago, I have prioritised a reset in our relationship with postmasters. They must be at the forefront of our business, with the Post Office providing them with the support they need to help their businesses thrive. 

I’m grateful that, since the announcement was made, the National Federation of SubPostmasters – whose members run around 75% of Post Office branches – have welcomed the move.

I am acutely aware that our postmasters are businesspeople and entrepreneurs at heart. Each one is proud to serve their community, but they are also postmasters because they find the Post Office to be a good fit with their other commercial interests. 

Our proposition must be fair, attractive and mutually profitable – the view of a postmaster as to how best we continue to drive footfall to branches, attract more SMEs to use our services and continue to be the destination to access cash and do everyday banking is therefore indispensable.

I know there will be appetite for engagement among postmasters. At our recent ‘Stronger Together’ regional events, more than 1,000 postmasters tuned in virtually to hear about priorities for the year ahead and to give their views.

“Retailers should provide an opportunity for those that run their businesses day to day in shops across the country with the ability to engage in strong debate and challenge the way things are done”

Ultimately, any organisation must listen to those who provide the lifeblood of their business on a day-to-day basis in such a way. Retailers in particular, can gain invaluable insights by placing store staff on their boards. 

For retailers to thrive, they should provide an opportunity for those that run their businesses day to day in shops across the country with the ability to engage in strong debate and challenge the way things are done. This helps ensure the best service and products are provided to customers.

The Co-op has member directors, for example. Outside the retail sector, some of the biggest firms in accounting, consulting and law have employee representation on their board.

The creation of the new non-executive role at the Post Office is just one part of what we’re doing to reset the relationship with postmasters. A separate consultation will be launched shortly, asking how postmasters and those commercial partners who operate multiple Post Office branches want to be involved in the development and execution of business decisions. 

This will include options to establish regional or thematic forums. Many retailers already operate this way with their franchise partners. 

Each company will have its own approach as to what is best. At the Post Office, I hope we can provide a blueprint that others in the retail sphere and beyond can point to. 

There is no doubt we have had a challenging period over recent years. But the business will thrive if we ensure that postmasters are at its centre.