Managers still receive bonus

darkpagandeath · 03-06-2015 8:40pm #1

http://www.bbc.com/news/business-32985637

I Can imagine this is Rife over here as well, The news show that I saw think was on BBC news. Reported worst for it was shock horror financial and public service. I have often worked in places where people expect to get a bonus so it is correct it does not effect performance.

Menas · 03-06-2015 8:42pm

Link just brings me to the FT front page after asking me to sign up! I aint signing up!

Ruu · 03-06-2015 8:42pm

Paid access only link?

darkpagandeath · 03-06-2015 8:45pm

Linked to another article.

Tails142 · 03-06-2015 8:47pm

People at the top will always look after themselves, don't forget it

ytpe2r5bxkn0c1 · 03-06-2015 8:48pm

Sure that's in the UK. It wouldn't happen here. So no need to sweat about it.

Menas · 03-06-2015 8:48pm

Bonuses of senior directors, for example, can be linked to multiple results of the individual, division and company as a whole.

So, for eg, I perform badly but the company performs well and increases profit. I get a predetermined portion of my bonus based on that. Obviously I get more bonus if my division and myself also perform well versus preagreed criteria.
Not too unusual really.

Aongus could explain this better than i.

darkpagandeath · 03-06-2015 8:51pm

Whisky Mac wrote: »

Bonuses of senior directors, for example, can be linked to multiple results of the individual, division and company as a whole.

So, for eg, I perform badly but the company performs well and increases profit. I get a predetermined portion of my bonus based on that. Obviously I get more bonus if my division and myself also perform well versus preagreed criteria.
Not too unusual really.

Aongus could explain this better than i.

So you have proven the point ? You get x amount of bonus no matter what you do ?

Menas · 03-06-2015 8:52pm

darkpagandeath wrote: »

So you have proven the point ? You get x amount of bonus no matter what you do ?

Yup, I have given one reason for it. There are countless others. Its not really news though.

osarusan · 03-06-2015 9:03pm

Isn't this the kind of stuff that only happens in the public sector...waste, taxpayer, private sector, accountability, real world, etc.

darkpagandeath · 03-06-2015 9:04pm

osarusan wrote: »

Isn't this the kind of stuff that only happens in the public sector...waste, taxpayer, private sector, accountability, real world, etc.

Happens in both, The news report on the TV Said the two worst for it where the Financial sector and Public service. I was shocked...

namloc1980 · 03-06-2015 9:10pm

Ruu wrote: »

Paid access only link?

It's only for managers who still receive bonuses.

anncoates · 03-06-2015 9:16pm

darkpagandeath wrote: »

So you have proven the point ? You get x amount of bonus no matter what you do ?

It's common enough.

My bonus is twofold as well. Part of it based on company performance and partly on personal performance.

If you're performing badly enough, you'd have bigger problems than a reduced bonus so the idea of complete incompetents receiving lavish bonuses is a bit off the mark, at least in my place anyway.

It can go the other way too, by the way. You could be outstanding and the company does poorly overall.

strobe · 03-06-2015 9:18pm

"All the lines go up, things are good" - JMK

Grayson · 03-06-2015 9:19pm

I've been in companies where if the company doesn't reach a target, no-one gets one. Another time they had it arranged by target. So if you were anywhere in Customer service and customer service didn't hit targets, then no-one is CS got it. Unfortunately this meant that although Ireland and Europe hit their targets (and exceeded) North America didn't and so no-one in CS got a bonus even though it was NA that brought down the average.
Another time I was given a target I had no control over. I was in crises response and I was given a target to make stuff more stable. It wasn't anywhere close to my job. This meant that when it came to the yearly assessment for bonuses by bosses just gave me a pass on that section. Since it was worth 30% I couldn't exceed my targets because all I could get was a meets target on 30%.

btw, this is all the same company.

They've changed for most departments so part of the bonus is based on your performance, part based on the dept and pat based on the company. Whether or not you get a bonus is based on your performance but the amount is an amalgam of all thee.

darkpagandeath · 03-06-2015 9:21pm

Grayson wrote: »

I've been in companies where if the company doesn't reach a target, no-one gets one. Another time they had it arranged by target. So if you were anywhere in Customer service and customer service didn't hit targets, then no-one is CS got it. Unfortunately this meant that although Ireland and Europe hit their targets (and exceeded) North America didn't and so no-one in CS got a bonus even though it was NA that brought down the average.
Another time I was given a target I had no control over. I was in crises response and I was given a target to make stuff more stable. It wasn't anywhere close to my job. This meant that when it came to the yearly assessment for bonuses by bosses just gave me a pass on that section. Since it was worth 30% I couldn't exceed my targets because all I could get was a meets target on 30%.

btw, this is all the same company.

They've changed for most departments so part of the bonus is based on your performance, part based on the dept and pat based on the company. Whether or not you get a bonus is based on your performance but the amount is an amalgam of all thee.

Let me guess a American MNC ?

SaveOurLyric · 03-06-2015 9:33pm

Tails142 wrote: »

People at the top will always look after themselves, don't forget it

Exactly. They are at the top for a reason, and deserve to.

darkpagandeath · 03-06-2015 9:35pm

SaveOurLyric wrote: »

Exactly. They are at the top for a reason, and deserve to.

How did that work out here again in the financial sector ? They were paid loads.

SaveOurLyric · 03-06-2015 9:41pm

darkpagandeath wrote: »

How did that work out here again in the financial sector ? They were paid loads.

Very well for them, they were indeed paid loads. The guys at the top were still the best though, even if not great. The guys under them most have been really woeful.

Grayson · 03-06-2015 9:45pm

darkpagandeath wrote: »

Let me guess a American MNC ?

Yep

Bonus structures are all over the place.

I remember in 2008 people were complaining about banks giving bonuses. The problem was that complaints wee about ordinary staff. I understand the banks fcuked up but the bank tellers didn't. So it's worth remembering that the individual may have missed out on part of a target but not the whole thing.

Managers still receive bonus

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