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.