Employee Rewards and Benefits News
Pay-back time with bonus reforms
Public demand for pay-back from top managers is still strong, with one CEO requesting a $1 annual salary and no bonuses until profitability returns. The real differences are emerging, however, with formal guidelines to successfully tackle pay reform, particularly the planned restructure of bonus systems.
A Singapore-listed supply chain manager said he was previously driven to grab and pay for talent to bring a fast impact on revenues. Employees to lead foreign exchange or hedge fund operations were thought to generate far more dollars than they were paid. So, variable payment packages, linking bonuses directly to business volumes or share price improvements, became normal. Now a tendency towards more deferment of variable pay looks a likely future for compensation.
