Employment Contracts and Bonuses
Posted in : Reddy Made Contracts on 13 June 2023
Siobhán Lafferty
LK Shields Solicitors LLP
In the current market, employees are looking for more than just their basic salary in terms of compensation from their employers. This could be in the form of benefits like private health care, income protection, life assurance or it may come in the form of a bonus. While bonuses can be common and often aim to give employers the maximum amount of discretion, it is important to consider some of the common pitfalls in respect of bonuses.
Q: We offer a discretionary bonus scheme in our contract of employment. We don’t need to pay the employee a bonus under the scheme, do we?
A: It is far more common to see a bonus scheme referred to in a contract of employment that says that
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This article is correct at 13/06/2023
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The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.
Siobhán Lafferty
LK Shields Solicitors LLP
The main content of this article was provided by Siobhán Lafferty. Contact telephone number is +353 1 637 1567 or email slafferty@lkshields.ie
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