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Employment law in relation to contractual bonuses

  • 10-02-2009 9:09pm
    #1
    tonymahoney
    Registered Users, Registered Users 2 Posts: 71 ✭✭


    Hi all
    I am just wondering if anyone in Boards.ie knows about contract bonuses with your employer. I am not prepared to give the circumstances of why I am posing this question for obvious reasons but would be interested to know what the implications are in the current economic client of employers pulling performance related bonuses. Does it depend on the wording of your contract or is there specific employment E.U. law that prevents employers being slightly "opportunistic" in the current climate?
    All comments positive / negative welcome!
    Thank you:confused:


Comments

  • #2
    Tom Young
    Legal Moderators, Society & Culture Moderators Posts: 4,338 Mod ✭✭✭✭Tom Young


    OP - Any posts from here on are not to be relied upon. Take formal legal advice. Practically however, if you have OTE - On Target Earnings, then it would not be correct or just to allow the removal of commission or targeted amounts.

    I will not answer from an Employment Law pov but I do know the answer.


  • #3
    newby09
    Closed Accounts Posts: 24 ✭newby09


    this is what I think is the general view.
    If your employer is, like everyone is, in financial difficulties then they are entitled to make redundancies. instead of making redundancies one could be asked to take a pay cut. there is no consideration for this variation to the contract but the consideration from the employer to you is letting you keep your job(as they can sack you). your consideration is the pay cut.

    it all depends on the individual circumstances


  • #4
    Covey
    Closed Accounts Posts: 2,368 ✭✭✭Covey


    Don't know exactly where your coming from but..

    Take the situation that you're a Salesman and the target is unit and monetary related, and you've exceeded both. Targets were set at the difficult end.
    You've completed your end and now the prospects are that it won't be fulfilled (i.e bonus may not be paid or at a reduced rate). Everything is in writing and relatively clearcut.

    Reasons for the employer not paying are the general economic downturn and the credit crunch (not easy access to funds)

    Well you've loads of options, but don't assume that right is the best.

    You may have a good legal case and may even win, but at what cost or gain to you. If the employer genuinely can't pay, you get nothing anyway and maybe put your job and others on the line. Some employers may try to exploit this however.

    I'm a firm believer however that actions match circumstances.

    More than ever we have to think and react outside the box. So for instance, where you have performed and gained your bonus why not negotiate a review that recognizes this and simply defers the bonus (in writing) until such time as the company can afford it. Naturally you need to put your own parameters on this.


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