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Adrian Crawford: Bankers’ bonuses uncapped

Employee Benefits

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.

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Non-NHS health staff win one-off bonus

Employee Benefits

Thousands of health workers will now receive a one-off bonus after threatening legal action against the government. Social Enterprise UK, which represents 10,000 social enterprise workers, described this as an “injustice” and threatened legal action against the government.

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Ikea awards pay increases and year-end bonuses to UK staff

Employee Benefits

Retailer Ikea has awarded its UK employees with pay increases that reflect the cost of living, as well as year-end bonuses based on the last year’s performance in a more than £35 million investment. The post Ikea awards pay increases and year-end bonuses to UK staff appeared first on Employee Benefits. per hour to £12.60

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‘I have some annoyance around the NO Christmas bonus.’

HR Digest

Dear Jane, I work in an industry where bonuses are common. My prior law firm handed two bonuses a year; one in June and the other in December. Giving out year-end bonuses or gifts is a generous gesture on the part of an employer. Bonus plans are governed by a contractual framework. No Christmas bonus.

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Cost of Living Bonuses for Employees in the UK: What Employers Need to Know

Empuls

What exactly are these bonuses, and how do they play a pivotal role in the lives of UK employees? In this blog you’ll learn about the intricacies of cost of living bonuses, understanding their significance, and uncovering the key factors that shape them. But before getting started let's uncover the basics.

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Mirit Ehrenstein and Louise Mason: Changes to remuneration, pay transparency and diversity metrics in 2023

Employee Benefits

This means that UK banks that had to limit variable remuneration to 200% of fixed pay are now permitted to pay bonuses at a higher level. The flexibility to reduce fixed pay and deliver a higher proportion of pay through bonuses will be welcome. The bonus cap has been removed.

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Nationwide Building Society reports 6.4% mean ethnicity pay gap

Employee Benefits

Debbie Crosbie, chief executive officer of Nationwide Building Society, said: “While we recognise that there are many gender identities, for government reporting we have to report on men and women. The organisation’s 2023 median ethnicity pay gap was 10%, up 0.4% from the prior year. Its mean ethnicity bonus gap was 21.3%, down 11.5%

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