Five Year Strategy

Five Year Strategy

Isle of Man Post Office (IOMPO) is committed to looking at ways in which it can best secure prosperity and has developed a five-year strategy to address a number of widespread industry challenges that the business is facing.

As a business, IOMPO contributed almost £17m to the Manx economy last year in the form of salaries, spend with local suppliers, tax, VAT and capital investment and this is part of the benefits of having a sustainable Post Office.

IOMPO has seen significant decline in its traditional areas; in the last 10 years the number of letters has reduced by 47%, evidencing people don't post as much with the emergence of emails, text messages, mobile phone apps, video messaging etc. While over the counter transactions are declining as customers choose to do their business via online services (transactions have fallen by 7% per year on average over the last three years). The cost of IOMPO's pension scheme is also increasing and is not sustainable in its current form and therefore needs to be addressed. The strategy is required to help sustain the business in the long term as a modern, self-funding Post Office fit for the future and has been developed in line with the business's vision, mission and values and contributes to key themes for the Programme of Government and SAVE initiatives.

The overall strategy looks at each of the four divisional areas of the business: Letters and Parcels, Sub-Post Office Network, Integrated Mailing Solutions (IMS) and Stamps and Coins. It aims to streamline processes and develop new ways of working through the use of technology across many of its services while continuing to provide high levels of customer service.

Introducing change is fundamental to IOMPO's ability to be successful and financially responsible in the delivery of its services into the future. IOMPO wants to remain self-funding and does not want to be subsidised by the taxpayer, taking resources from other vital services. 

IOMPO is committed to working with all its key stakeholders, including the unions, in the development and the delivery of the strategy.

In November 2022, Tynwald approved Isle of Man Post Office’s Annual Plan 2022-23 (see below). The Plan provides an insight into the business’ progress so far of its strategic transformational journey, as well as setting out its plan for the future. IOMPO is striving to achieve the very best for its long established trusted Manx business, delivering a quality and trusted service to its valued customers and stakeholders. Having completed all the key strategic actions agreed at the outset, the Board has refreshed and extended its strategy beyond the original five-year span (2017-2022) to 2025. As IOMPO presses on, the business continues to see the results of hard work and project planning come to fruition, and this is clear to see in the plan which has only been possible thanks to the continued support of our hardworking workforce and relationships with the employee unions.

In line with customers changing needs, IOMPO is transitioning to become a parcel-led delivery company with the introduction of its first ever automated parcel sorting machine in the New Year. This machine will allow for the introduction of streamlined processes, enhanced tracking and revenue protection, and for the development of new ways of working through the use of technology. Enhancing postal services to make them more accessible and convenient for customers is a key objective for the IOMPO Board. In the year ahead, the Board expect to implement a new online solution to allow customers to purchase their postage online (24/7) and to arrange home collections. A new handheld solution is also in development to allow retailers to offer postal only services, including buying postage, picking up and dropping off parcels in locations where a traditional sub post offices are not viable.

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