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27 Feb 14
08:05
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05 Jan 04
how can you get it so wrong. surely people should be jailed or even executed over the running ( using term loosely )of this organisation.
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8 billion loss last year yet still the bonuses get paid...quite unbelievable!!
exactly ,bonuses for what ? wrecking peoples lives !! going to be lot of job losses here and bet the fat cats there just move on to destroy another organisation
Please bear in mind that the "banker's bonus" headlines don't tell the whole story.
I'm not sure of the setup at RBS, but at a lot of these companies the poorly paid minions in the back offices and branches work under a bonus system too - i.e. they get paid a low basic wage and have it topped up for hitting certain targets. I know a lot of low paid workers at HSBC that got hit hard at the height of the banking crisis due to the public outrage at bonuses.
It's actually a much fairer system than the traditional "pay rise" approach IMHO. If you give someone a pay rise for doing well this year they can easily underperform next year and still get paid at the higher rate, which leaves less money in the pot for those who genuinely deserve it. With a bonus system, if someone stops performing they simply don't get their bonus and that money can then be allocated to those that really are making the effort.
I'm not sure of the setup at RBS, but at a lot of these companies the poorly paid minions in the back offices and branches work under a bonus system too - i.e. they get paid a low basic wage and have it topped up for hitting certain targets. I know a lot of low paid workers at HSBC that got hit hard at the height of the banking crisis due to the public outrage at bonuses.
It's actually a much fairer system than the traditional "pay rise" approach IMHO. If you give someone a pay rise for doing well this year they can easily underperform next year and still get paid at the higher rate, which leaves less money in the pot for those who genuinely deserve it. With a bonus system, if someone stops performing they simply don't get their bonus and that money can then be allocated to those that really are making the effort.
Sir George Mathewson, former chairmen of RBS (well pre-crash, was on fivelive earlier. He stated he'd never been in agreement with bonus payments. What's changed since his time?
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