TITLE

CITY BONUSES ARE BEST WAY TO HANG ON TO STAFF, SAYS COMMERZBANK

PUB. DATE
July 2007
SOURCE
People Management;7/26/2007, Vol. 13 Issue 15, p16
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that Ian Davidson, head of compensation and benefits at Commerzbank, has explained why extravagant bonuses are the only way to retain talented staff during the Reward Symposium of the Chartered Institute of Personnel Development. He stated the difficulties of managing people in an environment where a successful trader might net a £2 million bonus while a loss-making trader would get nothing. A percentage of the bank's profits is set aside for bonuses and then section heads are given bonus pools to divide between their staff.
ACCESSION #
26133427

 

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