Should Royal Bank of Scotland staff receive a bonus?
The subject of bonuses at Royal Bank of Scotland has been in the headlines for many days now with contrary opinions emerging almost hourly. Some believe it is obscene for £1 billion to be put aside to pay bonuses to staff at Royal Bank of Scotland while others believe it is the only way to maintain and retain a high calibre of staff for the future.
The truth is that the UK government has invested billions upon billions of pounds into Royal Bank of Scotland and Lloyds bank and if the bonus system was to be halted, even in the short term, there are many banks out there that are willing to offer substantial packages to leaders in the sector. Do you cut back on bonus levels and lose the best staff at Royal Bank of Scotland or do you maintain some form of restricted bonus system and attempt to retain the high-income earners which had made Royal Bank of Scotland one of the largest financial operations in the world?
In all honesty there is no simple answer and no simple solution to this particular issue and while a short-term agreement appears to have been reached between the UK government and the Royal Bank of Scotland, this is an issue which will drag on for many months to come.
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