Remuneration

Employment Law, Remuneration

Holiday pay and overtime – are you clear?

Recent case law on overtime and holiday pay has caused some concern for SMEs, particularly those in industry and manufacturing where overtime is frequently used, so we thought we would speak to the professionals and contacted Aye Limbin Glassey, Partner at Shakespeare Martineau to ask if she could provide guidance on some of our key questions. To our delight she agreed – so a very big thank you to our Guest Blogger this month Aye Limbin Glassey for providing very detailed and insightful answers to our key questions. So what’s it all about…..?

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Remuneration

Is your salary freeze defrosting?

There’s been lots in the news recently about salaries and pay awards. The Banking sector has been in the news again, it was reported that Barclays has put aside some £900m to cover potential claims for miss-sold PPI. Currently a substantial chunk of Bankers remuneration is paid as bonus. Reports are that going forward a proportion of this award may be ‘held back’ for a period of up to 7 years and potentially ‘clawed back’ if the employee is subsequently found responsible of recklessness or negligence – even if the money has already been spent! Do we think this is fair? Could this lead to us losing talent in the UK in favour of employees transferring to other Banks in other countries across the world?

 
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