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.
Employers offer financial wellbeing services, one-off lump sums and loans to help staff with the cost of living.
Tesco's Bank follows other UK banks in offering staff a cost of living pay hike.
Research from Cendex reveals a gender bonus gap, with women less likely than men to have received a bonus in the 12 months to June 2022.
Inflation has outpaced wage growth in almost all industries, apart from professional or scientific roles, figures show.
The average total pay for FTSE 100 CEOs rose to a record £3.9m in 2021-22 as record bonuses were paid out.
The lifting of the cap on bankers' bonuses, as announced by then-chancellor Kwasi Kwarteng in the mini-budget of 23 September, will go ahead, the Treasury has confirmed.
Employees who receive financial incentives also temporarily perform better in tasks they do not receive a bonus for, research has found.
More than half of the UK's workforce feel they are underpaid – report from recruitment website Indeed
The Chancellor has confirmed cuts to income tax and national insurance, and has removed the cap on bankers' bonuses in his 'mini-Budget' today.
Recent strike highlights the widening pay gap between commercial and criminal legal sectors.
Spanish bank Sabadell has announced it is to pay UK staff of subsidiary TSB a one-off £1,000 bonus.
The bankers' bonus cap in the UK could be scrapped under plans reportedly being considered by Chancellor Kwasi Kwarteng.
Unemployment in the UK reaches its lowest since 1974 and the number of job vacancies has fallen.
Regular wages fell by a record 3% in April to June 2022, as the rates employers were able to pay...
After reporting record profits, fuels giant Shell is set to give most of its 82,000 workers a one-off 8% bonus.
