B for Bonus

Posted in : Essential Guide to Employment Contracts on 24 August 2010
Kiera Lee
Mills Selig

Kiera writes:


1. Introduction


Bonuses are receiving bad press at the moment. There is outrage at payment of large bonuses to exiting chief executives who have arguably failed to do the job they were employed to do and global pressure to bring bonuses in the banking sector under control.

However, payment of bonuses and commissions is a useful way of incentivising employees and motivating them to achieve goals.

Schemes have become more sophisticated and inventive, helping employers to maximise productivity, profit, safety and quality. In 2009 some railway workers were promised bonus payments in

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This article is correct at 06/08/2015
Disclaimer:

The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.

Kiera Lee
Mills Selig

The main content of this article was provided by Kiera Lee. Contact telephone number is 028 9024 3878 or email Kiera.Lee@millsselig.com

View all articles by Kiera Lee