With the excesses of bonus culture squarely in the sights of many commentators seeking to apportion blame for the credit crunch, Institute for Employment Studies HR development director Duncan Brown weighs in on what can be done to make bonus pay fair (on personneltoday.com).
Brown offers a number of best practice suggestions, including the following:
[C]ompanies should be applying their internal job evaluation systems to executives. And while bonus opportunities may differ, they might copy the example of one transport company, where if the general staff bonus plan doesn't pay out, then executive incentives are cancelled.
IRS Pay and Benefits Bulletin is conducting a major survey investigating how organisations manage and award cash bonus, commission and incentive payments (on the IRS Research website).
The findings of this extremely timely research will enable participating organisations to benchmark their practices and experiences in all areas of bonus/incentive payment provision, including: bonus scheme administration; bonus scheme objectives; bonus scheme metrics; and bonus payments.
- Click here to participate. The closing date is Friday 20 February 2009, and all participants will receive a free copy of the resulting report on bonus pay when it is published.
- Has your organisation recently carried out an annual pay review? If so, and if it has now been settled, please get in touch so that we can add your organisation's pay award to the IRS database.