The B word
I’m going to come straight to the point. Paying bonuses is not evil.
Rewarding people for exceptional performance, sharing in the success of a company: these things are not bad. Yet for some reason we’ve allowed a whinging liberal, Guardian reading, granola sniffing elite to portray bonuses as corporate greed. And that is a steaming heap of festering bollocks.
The issue isn’t with bonus schemes, the issue is with feckless HR and Compensation professionals who won’t stand up to CEOs and FDs and allow the construct of crap schemes. The issue is with bonus schemes that pay out when there is corporate failure. The issue is with schemes that feel unfair.
Think about it. When John Lewis announces that all its staff will be receiving a bonus, the same liberal elite cheer and commend them for being good to their staff. But it is a bonus…so what is the difference? That they are all receiving a payment? But rather than focus on the £100,000 plus bonus that the MD of the company Andy Street was paid on top of his £500k plus salary, they focus on the staff as a good news story.
Funnily enough though, no-one focussed on the bonuses being paid to the banking staff in the local branches and call centres did they……?
In all of the companies that I have worked for that operated a bonus scheme, everybody participated and everyone was rewarded. We have and we continue to work hard to make sure that the schemes are fit for purpose, that they reward everyone and that they only pay out when we have been successful as a corporation. And there is nothing wrong with that. I’m not ashamed to operate a scheme and I’m not ashamed if and when I benefit from that scheme.
There is nothing wrong with making a profit. And there is nothing wrong with sharing a profit with the employees. Next time you hear someone criticizing bonus, ask them if they have ever had one. If not….you might want to question what other motives lie beneath.
Let’s put an end to this pathetic group think once and for all.