Employee Benefits
NOVEMBER 1, 2023
First introduced by the European Union in 2014 in response to the 2008 financial crisis, the cap limited bonuses to twice employees’ basic salary. Many bankers have been happy with the relative security of higher fixed pay, all the more so as bonuses above a certain level are now subject to deferral.
Employee Benefits
OCTOBER 27, 2023
This is the question that has arisen this week following the Financial Conduct Authority’s (FCA) announcement that the cap on bankers’ bonuses will be scrapped from 31 October. The cap, which was introduced in 2014, was intended to curb excessive risk taking in the financial services industry following the financial crash of 2008.
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Employee Benefits
FEBRUARY 14, 2023
Growth in total pay , including bonuses, was 5.9% in the final quarter of 2022, while pay growth excluding bonuses was 6.7%, according to the latest labour market data from the Office of National Statistics (ONS). For pay excluding bonuses, this was the highest growth rate seen outside of the Covid-19 pandemic. on average.
Employee Benefits
AUGUST 29, 2023
The workers estimated that piece work rates are 70% below market value and have not been increased since 2008. A Chesterfield Council spokesperson said: “The intended strike action follows a ballot of Unite staff on the national pay offer and the way in which local bonus pay calculations are made.
HR Digest
JULY 19, 2022
While most companies give a 3% raise on employee salaries , they are putting aside budgets to give a raise of 4.1%, a record high since the Great Recession of 2008. raise would be the biggest pay bump offered by US employers since 2008. What is the average salary increase for 2022? If implemented, the 4.1%
Global People Strategist
OCTOBER 21, 2020
In 2008, after having suffered a massive financial crisis, it became successful in increasing its GDP to $23 billion by 2017. Known for its beautiful Northern Lights, Iceland is a small Nordic island nation known for its laws on freedom and equality for all citizens. In Iceland, employees cannot be forced to work on holidays.
HR Digest
FEBRUARY 25, 2020
Gig economy picked up pace after the recession of 2008 and 2009 when many people were laid off work and who had to be resourceful to find employment. Hiring has slowed down considerably post 2008. One in three employers of 100,000 employees or more said they expected to use 30% or more contingent workers by 2020.
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