Salary Scale

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With this information they are able to calculate the amount to be paid and deductions such as NI payments, pensions, tax, and union subscription. A lot of the staff at Manchester Airport are salaried, that is their payments are based on an annual figure, but the employees are paid on a monthly basis. The airport does not pay cash but prefers to make a monthly or weekly Bank Automatic Clearing System (BACS) this means that the money is directly paid into the employee’s bank accounts. To comply with legal requirements a slip confirming this payment is given to each member of staff.

Obtaining Capital and Resources – Cash flow is vital to the smooth running of any organisation and as air travel is seasonal it is important to ensure that there are always sufficient funds available to ensure day-to-day operations are maintained. Manchester airport has a Treasury Department, this invests surplus funds on a short-term basis and supplies funds when required by other departments within the Airport Group.

It is the responsibility of this department to judge what cash flow are and wha6t funds will be required on a daily basis. The Treasury Department models cash flow projections over 10, 20 and 25 year periods using project passenger numbers and including factors such as inflation, both national and global.

In the main Manchester Airport is a self-financing organisation, this is, it usually makes a profit. As a result of this it is able to either pay a dividend to its shareholders, (the ten Local Councils of Greater Manchester) or re-invest any surplus funds into a new capital projects or other developments in order to make Manchester Airport “The Airport of Choice” for customer and passengers. Before the relaxation of Government borrowing controls, the Airport’s funding for capital projects was provided from the Public Works Loan Board (PWLB) and the investment of profits, which would have otherwise been paid as dividends to its shareholders.

The Role Of The Managements Accounts Section – The Divisional Accountancy Section is part of Manchester Airport plc’s financial management function. Management Accounts provide regular financial information for managers to control the Company’s income and costs. Accounts are produced each month in the form of a Profit and Loss account and Balance Sheets. These are measure against the budgets for the period, with any variations analysed and explained.

Preparing Accounts – Each year the Manchester Airport Group produces an annual report which describes the main areas of activity during the previous financial year, its plans for the future, a breakdown of the accounts and a description of accounting methods used. Legally the annual report must contain the following.For each of these sections contains between 5 – 16 separate policies covering specific areas. The documents outline the policy, rules, procedures etc. for line managers to interpret and apply themselves as appropriate.

The Human Research Manager works closely with the Managing Director of Manchester Airport plc and senior managers to develop HR strategies which will support the achievement of the business aims.

However not all of the HR activity is decentralised. The company has reached a single table bargaining Agreement with the recognised trade unions and all issues of pay, terms and conditions of employment and changes to employee contracts of employment are discussed at regular communication meetings, which are chaired by the Managing Director of Manchester Airport plc and attended by the HR Manager and TU Representatives. Recruitment and Selection – Recruitment is the process of attracting new people into an organisation. Selection is the process of selecting the best person who “fits” the position, according to merit. Managers work closely with the Human Resources team to consider how vacancies can be filled in a cost-effective way with a person best suited for the job.

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