Eskom cuts bonuses: report

Executive pay and bonuses are determined by the Eskom board, and are discretionary, which means that top executives may still receive a bonus, according to previous statements from the group.
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lol
 
Executive pay and bonuses are determined by the Eskom board, and are discretionary, which means that top executives may still receive a bonus, according to previous statements from the group.
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:sick: They better not get bonuses. If they make their target, the staff should get a bonus. If they surpass the target, only then should the executives get bonuses.
 
SilverCode said:
:sick: They better not get bonuses. If they make their target, the staff should get a bonus. If they surpass the target, only then should the executives get bonuses.
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And what should their target be.
 
I can confirm this, ex-colleague of mine was pretty upset about this, especially when asked her "do you deserve a bonus though?". They get two bonuses a year, performance and 13th cheque, I told her to chill TF out.
 
Gunner182 said:
I can confirm this, ex-colleague of mine was pretty upset about this, especially when asked her "do you deserve a bonus though?". They get two bonuses a year, performance and 13th cheque, I told her to chill TF out.
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A 13th cheque is not a bonus but part of basic pay. In somecompanies where employees are paid an hourly rate the monthly salary is based on 40 hours a week times 4 I.e. 160 hours a month. So if you take 4 weeks times 12 months it gives you 48 weeks. A year has 52 weeks, so the 13th cheque makes up the difference of 52-48.

With structured packages the employee has the option of getting paid the actual hours worked per month or taking a 13th cheque. In the end you get paid for 52 weeks.
 
If the executives get a bonus, then expect a complete melt down at Eskom... It should be fair for all, top and grass roots people should be under the same pay grade...

Also, I have never received a 13th cheque as I think most companies still see it as a "Favour / Bonus" rather than a right...
 
cyberbob1979 said:
If the executives get a bonus, then expect a complete melt down at Eskom... It should be fair for all, top and grass roots people should be under the same pay grade...

Also, I have never received a 13th cheque as I think most companies still see it as a "Favour / Bonus" rather than a right...
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I'd say no execs anywhere should get bonuses, ever. They already get paid more than enough to live extremely luxurious lives. Grass roots are the only people who should get incentives/bonuses.

That said though, there should be no bonuses/incentives for anyone... you're employed to do a job and get paid to do the job
 
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ellyally said:
I'd say no execs anywhere should get bonuses, ever. They already get paid more than enough to live extremely luxurious lives. Grass roots are the only people who should get incentives/bonuses.

That said though, there should be no bonuses/incentives for anyone... you're employed to do a job and get paid to do the job
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Nonsense. If a company does well, all deserve bonus/incentives, top to bottom. This fosters a culture of loyalty, good work ethic and generally a well performing company. I got no issues with anyone deserving bonuses.
 
Still doing it the wrong way around... FIRST executives, senior management get no bonuses. THEN managers. THEN standard workers.

You are a manager/executive for a reason - part of that acceptance is knowing that your pay rides on the success of the company. Random worker Joe who earns a standard salary (with performance bonuses if they work well) should never not get a bonus unless everything else has been done. Executives not getting bonuses means one less trip to the Maldives. For a normal worker, it can mean no Christmas.
 
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