End of BW Board Bonuses?

[canaldrifter]

Will Will Hutton's exec pay plan put an end to BW board bonuses? The concept of not receiving full basic pay if targets are not met seems much fairer than paying themselves bonuses for meeting targets that they are in fact just part of their job description.

 

If it comes about I'd like to think it could be applied retrospectively!

 

http://www.bbc.co.uk/news/business-12732788

 

Tone

[Speedwheel]

But, as I understand it, he also recommends that bonus should not be capped.

 

Will those in such jobs set themselves or their friends targets that are not achievable?

 

Edit - I stand corrected, thanks Tone.

Edited March 15, 2011 by Speedwheel

[canaldrifter]

He says basic pay should be performance related and not capped.

 

Tone

[dor]

But will he still be able to drop a six figure sum into his pension and say he isn't taking a bonus, like he did was it last year?

[ymu]

Hutton reckons there are about a dozen public sector employees earning over £300k. BW board members account for two of those IIRC. That's extraordinary, given that the others will be people like the DG of the BBC. I don't think even the head of the civil service is in that group.