Banks are offering their employees different incentive packages in the wake of the public row about bonus payments, the Irish Times reports today (January 11th).Instead of bonuses, workers are receiving increased salaries and more long-term incentives, according to a new survey of global financial institutions by consultancy firm Mercer. The survey found that most firms are choosing to move away from large short-term bonuses and instead offer their employees more pay. Another common practice is for companies to hold bonus payments in accounts rather than paying them straight away, and withholding the right to reduce them in light of poor performance.It found that these new approaches were often a direct response to government regulation.This week, the House of Commons Treasury Select Committee will grill a number of senior bankers over bonuses and pay in the financial services sector. This follows criticism by the committee's chairman John McFall MP, who accused many bankers of not living in the 'real world'.For free advice on how to make a PPI Claim – Payment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.
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