PAY AND REWARDS

Do your staff really need bonuses?

News by CMI Insights, 14 NOV 2016

A top fund manager has stopped paying bonuses to his staff, with others following suit, citing that 'bonuses are largely infeffective and lead to wrong behaviours - is he right?

Neil Woodford, one of the UK’s most respected fund managers with more than £14bn assets under management, has made the bold step of putting all staff at his Oxford-based Woodford Investment Management company on a flat salary this year.

Instead of a one-off cash incentive, Woodford will reward staff with a pay rise for the current financial year to more effectively improve employee behaviour and performance.

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