Global banks are not the only employers to make mistakes. If bonuses and maluses are pitched incorrectly, it can lead to the company suffering and employee relationships deteriorating. Reviewing your scheme is essential to ensure real clarity as to the objectives and outcomes. (see Associate Consultant Anthony Barling's view of the situation: "G20 Summit, Banks and Bonuses")
Bonus schemes going wrong is nothing new to those of us who regularly look at bonus and incentive schemes and frequently see the problems they cause, even if the bankers example is rather more spectacular.
Why is this review worth considering?
- To introduce a successful bonus and maluse scheme;
- Reduce wasting time and energy;
- To free your Management and HR Team to focus on the future, not having to mop up mistakes of the past;
- To avoid costly litigation and unnecessary compromise agreements.
Trafalgar's Consultants can help you avoid the 'unintended consequences' the bankers are facing. Do not hesitate to contact us for an initial no obligation chat.