Tags: Bonus

Employees see flexible working as ‘business’ benefit

A survey by HR recruiter, Ortus, of some 450 professionals found that nine in ten think flexible working will become the dominant employment model in the near future. Despite this, just 12% deem flexible working to be a vital benefit, which is lower than the proportion who said a free company mobile phone is vital to…

Companies to reduce executive bonuses in 2013, but large drops in pay unlikely over the long-term says PwC research

Many FTSE100 executives will see no increase to their annual bonuses this year and some bonuses could even be cut by up to quarter, according to a PwC survey of large UK companies. This will result in the second successive year of bonus reductions in the FTSE100. Fewer than 10% of those companies are expecting…

UK workers back business bonus culture

UK workers are not motivated by Coalition-backed employee ownership business models, and instead want greater focus from bosses on a meritocratic bonus culture, a new poll suggests. While the Government believes growth will prevail through a ‘John Lewis’ led economy, research by leading recruitment consultants, Badenoch & Clark, has found that over three quarters (76.2%)…

Pay stutters as UK companies peg wage increases to inflation

British companies will increase salaries at a rate marginally above inflation in 2012, a new survey by Towers Watson Data Services has found. The latest Salary Budget Planning Report for Europe, the Middle East and Africa found that salaries for UK employees were predicted to increase by 3%, against a prevailing inflation increase of 2.9%.…

Lloyds Banking Group to claw back executive bonuses

The banking firm will be clawing back bonuses worth £2 million from four board directors and six other executives. According to the BBC, the former chief executive Eric Daniels will lose between £600,000 and £700,000, as the bank prepares to take between 40% and 50% of a £1.45 million bonus. Three other board directors are…

Government to veto Network Rail payout

The Transport Secretary is to vote against Network Rail’s £20 million bonus pool, but Labour argues that she is not utilising her powers to prevent the payouts. Justine Greening has vowed to attend the annual general meeting (AGM) of the rail infrastructure firm to veto the reward package which may include £340,000 for Chief Executive,…

City HR head warns against knee-jerk reaction on bonuses

Bank bonuses should reflect the value of an individual to their organisation, not political rhetoric or historical context, the chairman of the City HR association has warned. Robert Potter, who heads up the financial sector’s HR body, warned reward policy makers against knee-jerk reactions in the in the wake of the row over pay at…

Bonus of nearly £1million for RBS boss ‘reflects recovery progress’

Board ‘recognises difficulties’ around pay for banks chief Hester Royal Bank of Scotland chief executive Stephen Hester is to receive a £963,000 bonus for last year, the bank’s board confirmed today. The annual performance payment will be awarded in shares, on top of Hester’s £1.2 million salary for 2011. The bank – which is 83…

GCHQ turns to bonuses to retain cyber spooks

British intelligence agency GCHQ has been given the go-ahead to offer bonuses to staff with cyber expertise in a bid to dissuade them from taking up higher paid private sector jobs, it has been reported. The agency’s director Iain Lobban admitted months ago that he was unable to compete with the likes of Microsoft and…

Bonuses explode for IT hedge fund staff

Hedge fund IT employees are experiencing bonuses of up to 60 per cent more than they received last year. ReThink Recruitment reports that the base salary for senior IT staff now stands at around £100,000, while those with experience in designing and implementing algorithmic trading platforms can anticipate 80 per cent bonuses. There is an…