Global firm to allot bonuses by behaviour

An international bank is turning over a new leaf this week as it begins placing greater value on team work and ethical behaviour

Global firm to allot bonuses by behaviour
It seems an international bank is turning over a new leaf this week as reports surface that it has begun placing greater value on humanitarian factors such as team work and ethical behaviour.

Following a string of scandals, such as the manipulation of benchmark interest and foreign exchange rates as well as aiding tax evasion by U.S. clients, UBS has started to rank its employees’ behaviour as part of the company’s performance reviews.

According to news agency Reuters, the 60,000 employee strong bank is now grading its workers from one to five on their behaviour – the result will make up about 30 per cent of each employee’s overall review which is then tied to year-end bonuses.

The move hasn’t come out of the blue for the Swiss bank, as the institution began factoring employee behaviour into reviews last year – but this is the first time a separate score will be given.
In addition to shelling out billions of dollars to settle the aforementioned scandals, UBS also suffered a loss in excess of $2 billion following a rogue trading disgrace.


More like this:
Air NZ contends “cherry-picker” pilot agreement
Three alternatives to scrapping annual reviews
The most critical factor in your relocation program

Free newsletter

Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Please complete the form below and click on subscribe for daily newsletters from HRD New Zealand.

Recent articles & video

Is it impossible to overcome hiring bias?

Criminal activity outside of work: What HR needs to know

How to handle a toxic, yet talented, employee

Why do many senior managers distrust big data?

Most Read Articles

How to handle a toxic, yet talented, employee

Religion, rugby and contracts

Criminal activity outside of work: What HR needs to know