How did we end up with crazy bonus culture?
Published 04/07/2011 | 09:44
WHERE in God's name did this crazy bonus culture come from and why has it been allowed to infiltrate and dictate employment terms in this part of the world?
When a high executive position is advertised, applicants are assessed, vetted and shortlisted, interviews follow and the successful candidate is offered the job. A massive salary is negotiated.
But we find at the end of the financial year that a bonus of anything from 50pc to 100pc of the agreed salary has been paid out in return for carrying out the job to which the person was appointed in the first place.