Many employers operate contractual or discretionary bonus schemes to incentivise their employees.
A major legal issue for employers is to decide whether bonuses under the scheme are intended to be contractual or discretionary, and ensure that this is clearly reflected in the relevant employees’ contracts of employment.
Six water companies have been banned from paying bosses bonuses under new legislation.
Staff at the finance giant have been warned via a memo that office attendance could lead to a pay cut via annual appraisals.
Accounting and consultancy giant Deloitte has told its UK employees that reduced profits mean it will reduce the average salary rise.
Ministers could block executives at Thames Water from taking bonuses after the utility applied for a £3bn emergency loan.
The retailer said it did not believe “it would be right” to pay a bonus this year as it continues to reinvest in the business.
Lloyds reduces diversity targets which impact annual bonus payments for senior staff and its wider employee base.
Greggs staff are set to share profits of £20.5m as the business reveals a spike in sales over the past year.
More than 10,000 managers at supermarket chain Asda will not receive a bonus this year after its market share has shrunk.
Barclays doubles its CEO’s pay to £10.5m as the bank's top performers share a bonus pot of £1.9bn.
BT is scrapping bonus scheme elements that include diversity, equity and inclusion (DEI) measures for thousands of middle managers.
KPMG UK partners receive record pay averaging £816,000 following an 11% increase in pre-tax profits to £404 million.
Most employees (60%) are not expecting a Christmas bonus, while just 8% anticipate a bigger payout this year.
Executive search specialist Elena Bajada examines salary compression and what HR leaders should do to ensure their pay structures remain fair.
Bankers could get their bonuses sooner under new plans designed to bring the UK's rules more in line with other countries.
More than one in two employees (53%) are hoping for a seasonal bonus, while a similar proportion (48%) are expecting a gift.
