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.
John Lewis staff will receive a bonus worth 15% of their salaries – which is up 2% on the previous year.At...
Unite has welcomed Northern Rock’s decision to pay out staff bonuses despite the fact that the mortgage lender failed to...
HSBC and Standard Chartered banks’ chief executives have pledged to give their bonuses, totalling about £6m, to charity.Michael Geoghegan, boss...
Thousands of top RBS staff quit last year and more are set to leave, the bank’s chief executive has revealed.Stephen...
RBS has reported a pre-tax loss of £3.6bn for the past financial year, but is still set to pay out...
HSBC has yielded to shareholder protests and backed away from plans to raise its chief executive’s base salary by more...
The chief executive of Lloyds Banking Group has become the latest banking boss to relinquish his annual bonus, putting mounting...
RBS chief executive Stephen Hester will not take his £1.6m bonus for 2009, it has emerged.The news follows the decision...
Banking HR professionals do not have the clout inside financial institutions to influence pay or reward for high earners, despite...
Two Barclays bosses will forgo their bonuses for a second year running to strengthen their kudos in influencing regulatory reform.John...
Barclays is set to pay it staff bonuses in excess of £2bn.The bank, which will reveal its full-year results on...
The National Association of Pension Funds (NAPF) will today launch a new governance code, urging pension funds and other institutional...
Banking sector HR directors should be taking action now to prepare for April’s Finance Act, which includes the controversial one-off...
The Financial Services Authority (FSA) has told investment banks to comply with regulatory guidelines or risk losing their licences to...
Marks & Spencer has agreed to pay its new boss £8.5m for his first year in the job.
The high...
