John Lewis Bonus

[Clippy]

So, JL announced their bonus today.

I can understand staff feeling happy with the announcement but the oriental woman in this video is going a bit OTT.

BBC News - John Lewis workers celebrate 18% bonus

[AtW]

That's the kind of bonus I approve - everyone gets bonus as same %-tage of salary because the firm is profitable.

[EternalOptimist]

That's the kind of bonus I approve - everyone gets bonus as same %-tage of salary because the firm is profitable.

mmm, I disagree actually.

In a large organisation you are quite often having to introduce culture change and drive productivity. Giving bonuses that are based on metrics that support the strategy provides an incentive.

giving a blanket bonus based on corporate profitability provides no specific incentive.

Bonus schemes that are well thought out and implemented can be dynamite and progressive. Bonus schemes that are poor and corupt can wreck a company

[MarillionFan]

John Lewis is about to launch a 5 year bond to raise new funds for expansion.

Open to staff and John Lewis card holders it will be paying 6.5% per year, if which 2% of that will be in vouchers. Maximum investment 10k. Not covered by the FSA.

They're planning some major expansion.

[AtW]

Maybe I should buy a sofa from them...

[norrahe]

mmm, I disagree actually.

In a large organisation you are quite often having to introduce culture change and drive productivity. Giving bonuses that are based on metrics that support the strategy provides an incentive.

giving a blanket bonus based on corporate profitability provides no specific incentive.

Bonus schemes that are well thought out and implemented can be dynamite and progressive. Bonus schemes that are poor and corupt can wreck a company

With JL, the employees are shareholders so always benefit from the company doing well

[thunderlizard]

I can understand staff feeling happy with the announcement but the oriental woman in this video is going a bit OTT.

<clarkson>Only because she's a member of a syndicate that got a tip-off it was going to be 18%, and stuck a few grand on it at Ladbrokes.</clarkson>


otherwise yes, anybody thinking "I reckon it's going to be 19%" is conspicuous by their absence!

[doodab]

Maybe I should buy a sofa from them...

You could do a lot worse.

I've bought quite a lot of stuff from John Lewis over the years, you do get good value from them, they aren't necessarily the cheapest but that's because they seem to have standards rather than selling the cheapest crap they can get their hands on.

[AtW]

Going to check them out after Easter.

[Halo Jones]

they aren't necessarily the cheapest but that's.

You say that but I have brought white goods from them this year & they were the cheapest on a particular model (admittedly is was not a basic model) and you get a 5 year warranty included, so it seems if you are looking a quality goods to start with they are competitive..

One thing they are considering doing with the raised monies is to set up their own delivery vans for Waitrose, therefore negating the Ocado cost.