VENT: bonus/bandwagoners

WestonDave

SimonSays wrote: »

Stupid vent?

Oh and in an industry where people can jump in to do your job in a flash its not wise to make yourself unemployed wanting payrises.

People maybe "can" jump in and do the job in a flash, but if its now £8k per year less well paid, how many are going to want to. The employer is going to be rather short sighted if he simply sits on this situation.

Firstly current staff will ebb away to better paid work - starting with the best staff who are most employable elsewhere.

Secondly if bonuses are capped then if the bonus structure remains the same, there will come a point where you've done enough business to get the maximum bonus with no incentive to work for any further business.

I would be sitting down and working out a new structure so that if say my basic was £20k per year and typically I got another £20k per year in bonuses (based on 2% of £1m of business written), now capped to £12k, then it might be worth making the basic £28k and the bonus 1.2% of business written. This would ensure the employer gets the same productivity from you, and you get the same earnings. Putting a proposal like that which is cost neutral and preserves the incentives to work should be welcomed by a sensible employer.

(I appreciate I have no idea how this bonus system works so obviously the above is not a blueprint to be directly applied - however surely you, knowing your bonus system etc and how much business you write could create something with similar effects to take to your employer.)