Buyers miss out on bonuses

12 February 2010

12 February 2010 | Jake Kanter

Nearly three-quarters of buyers are not rewarded for hitting savings targets, according to the latest SM100 poll.

The survey of 100 international buyers found 73 per cent did not receive a bonus for slashing costs, while 27 per cent were rewarded for their efforts in driving savings.

A number of the respondents expressed displeasure at not securing financial recognition for making cutbacks. Others said that savings were “part of the day job” and it would be unfair to expect rewards for something they were required to do.

In addition, many purchasers said savings targets formed part of a set of goals they need to achieve to release a bonus. These included customer satisfaction ratings and spend visibility.

Those that did receive bonuses said it was important for motivation, but could also result in loss of morale if targets are not hit. Recruiters told SM that bonuses were attractive to talented candidates.

A number of respondents admitted that their bonuses had been cut or reduced during the downturn.

See news focus - Do you deserve a bonus?

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE