B for BonusPosted in : Essential Guide to Employment Contracts on 24 August 2010
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 return for a ‘strike free’ year.
Bonus schemes, intended to be positive, are
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This article is correct at 06/08/2015
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