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.
Read the full story: https://www.managers.org.uk/insights/news/2016/october/do-your-staff-really-need-bonuses
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