The bonus scheme bogus On what basis do you establish a bonus scheme, asks Tony Phillips, who argues that such incentives are not necessarily the best method of rewarding hard work

first_imgNever have I been able to understand or formulate a good bonus scheme.The more I have looked at the problem, the more convinced I become that they are simply not an efficient means of rewarding an employee or encouraging them to greater effort.supporting a hypothesisWhenever I talk to people operating a bonus scheme, it does not fill me with confidence that they are satisfied with their system. It’s as if they are trying to support a hypothesis, rather than find evidence against it.Bonus schemes, as used by big business and government agencies, are virtually always an out-and-out swindle – just a hidden way to give the recipients a sly pay increase, which they do not deserve.In our real world, let us at least be honest with each other; often we lose sales without any real errors on our part and due, perhaps, to reasons beyond our control – such as non-stop rain, the moving of a bus stop or useless double lines that stop our custo-mers parking and popping into our shops for a quick snack.Whenever this happens to us, we start looking for our own failings, as indeed we should, but often it is out of our control. So the potential recipient of the bonus loses out and becomes disgruntled.EPHEMERAL INCREASETwo years ago, I wrote that our retail stores were increasing between 10% and 30%, for no reason we were aware of. I said it would not last and it did not, as we ended up with about a 10-12% increase by the end of the year.Now, if we had had a bonus system in place, we would have paid out for nothing, and that’s my problem: how do we decide whether the extra profit is due to an individual’s performance or, as is more common, a team effort – plus at times for no reason or credit to ourselves. It just happens.Perhaps I could paraphrase John Kennedy and say to our staff: “Think not what your company can do for you, but what you can do for your company.”BASIS FOR THE BONUSIf you award bonuses based on increased turnover or profitability – say inflation is 10% and sales increase by 10% – who deserves the reward? And of course, it’s easy to inflate sales at the expense of profits.So the answer must be profit? No, go easy, the company may have negotiated a reduction on electricity, the telephone, gas or just plain property tax charges, without any intervention of the bonus recipient. Or the company might have lashed out a great deal of money on new fuel efficiency equipment. In my case, that would be my money and decision, not a manager’s decision.So after all this chat, we appear to be where we started, with no clear answer.Maybe the problem is insoluble – a bit like trying to convince my wife, Barbara, that, when I give her a new cheque book, it is not like a good book, which she cannot put down until she has finished it. nlast_img read more

Kane scores twice as Tottenham hit form to thrash Stoke

first_img(REUTERS)-Tottenham Hotspur emerged from their recent slump to demolish Stoke City 5-1 at Wembley in the Premier League on Saturday and continue a run of handsome victories over Mark Hughes’s side.One win in five games had dropped Tottenham out of the title race, and out of the top four, but once Ryan Shawcross’s first-half own goal had given them the lead they proved unstoppable.Tottenham have scored 17 goals and conceded one in their last four meetings with Stoke and are the first English top-flight side to win four consecutive matches against the same club by a four-goal margin.Mauricio Pochettino’s team had found goals hard to come by at their temporary Wembley home in this campaign, especially against teams they brushed aside with ease last season, but Stoke again proved compliant opposition.Four goals arrived in a flurry after halftime with the impressive Son Heung-min slotting in after 53 minutes and Harry Kane, guilty of missing an earlier sitter, making it 3-0 with a thumping header.Kane side-footed his second in the 65th minute to take his tally to 18 in all competitions this season before Christian Eriksen weighed in with Tottenham’s fifth, following a Son pass.Tottenham Hotspur emerged from their recent slump to demolish Stoke City 5-1 at Wembley in the Premier League on Saturday and continue a run of handsome victories over Mark Hughes’s side.One win in five games had dropped Tottenham out of the title race, and out of the top four, but once Ryan Shawcross’s first-half own goal had given them the lead they proved unstoppable.Tottenham have scored 17 goals and conceded one in their last four meetings with Stoke and are the first English top-flight side to win four consecutive matches against the same club by a four-goal margin.Mauricio Pochettino’s team had found goals hard to come by at their temporary Wembley home in this campaign, especially against teams they brushed aside with ease last season, but Stoke again proved compliant opposition.Four goals arrived in a flurry after halftime with the impressive Son Heung-min slotting in after 53 minutes and Harry Kane, guilty of missing an earlier sitter, making it 3-0 with a thumping header.Kane side-footed his second in the 65th minute to take his tally to 18 in all competitions this season before Christian Eriksen weighed in with Tottenham’s fifth, following a Son pass.Kane has now scored 33 Premier League goals in the calendar year with four games left, three short of the record set by Alan Shearer in 1995.Shawcross managed to score at the right end to give Stoke a consolation goal but it could not disguise a feeble effort.“The most important thing today was the victory, that we get what we deserved,” Pochettino said.“The performance was very good, a very great performance from the team, and it is not easy to score five. But I am not surprised by the performance, it was like against Watford and West Bromwich. Always you need a bit of luck to open up games.”Tottenham, who will return to a brand new stadium next to their old White Hart Lane ground next season, are still 15 points adrift of leaders Manchester City who play on Sunday.While a title challenge looks beyond them, Pochettino said a return to the free-scoring football of last season can help them in their bid for a top-four finish.“That is how we need to play from now. Consistency between now and the end of the season is so important if we want to finish in the top four. The team showed their true quality.”last_img read more

Future of Indian chess looks promising: Viswanathan Anand

first_img LIVE TV Five-time world champion Viswanathan Anand on Thursday said that the future of Indian chess “looks promising” and some players will soon break into the top 10 of the FIDE ratings. Anand, currently at the 15th spot at the FIDE rankings, picked the likes of Pentala Harikrishna and Vidit Gujarathi as the players expected to be among the top-10 in the coming years.READ | Lewis Hamilton Refutes Rumours About Him Crashing Valentino Rossi’s MotoGP Bike Last Updated: 12th December, 2019 17:35 IST Future Of Indian Chess Looks Promising: Viswanathan Anand Five-time world champion Viswanathan Anand on Thursday said that the future of Indian chess “looks promising” and some players will soon break into the top 10 Written By Press Trust Of India “I would say Hari (P Harikrishna), Vidit (Gujrati), Surya (Sekar Ganguly), Sasi (K Sasikiran) (as the players of the future). Sooner or later somebody from India will break into top 10. Things are looking promising for India as we have a lot of talent,” Anand told PTI here during an interaction.”Players like Praggu (R Praggnanandhaa, who recently won a tournament in London), Nihal Sarin, D Gukesh, Raunak Sadhwani and there are more. Things are looking good for Indian chess,” he added. “It is a project that has been floating for a long time but a couple of years ago we suddenly thought the 50th birthday was a convenient deadline and we aim for that. That also forced us to concentrate and finish the book,” he said.”I feel it was time to tell my story. And the way we selected it was not so much like an autobiography as to pick out the most significant moments in my life. The ones that I remember the most, that had the most impact on my way of thinking. Extract life lessons from them and present them.”It is a journey through my career and world of chess, the things that I learnt, the struggles that I faced.” First Published: 12th December, 2019 17:35 ISTcenter_img READ | Anthony Rendon Net Worth, Salary And Contract Details With Los Angeles AngelsThe book also contains references to his mother (Susila Viswanathan) who was responsible for him taking up chess. On his rivalry with the legendary Russians Garry Kasparov and Anatoly Karpov, Anand said the book has a fair mention of it and both had helped him learn a lot. “I have written about the rivalries with them, how I experienced them, how I won through them. I learnt a lot from them also.” Recalling a particular incident, Anand spoke about how Karpov came 45 minutes late for a game and the manner in which he reacted to it.  “That’s an interesting chapter and people would find it interesting too,” he said. On the use of computers in chess, he said, “When I started playing chess, computers had nothing to do with chess. Now they have almost everything to do with chess.”Asked what keeps him going for so long at the highest level, Anand simply said it was because he liked playing chess.   On the possibility of taking up coaching once he calls it quit, the five-time world champion said he has not thought much about his future. “I don’t know. I am not thinking too much about that. I might do some mentoring.  This year I have a full calendar so that’s my full focus.”READ | Would Love To Shoot In Both 10m And 25m Events At Olympics: Manu Bhaker COMMENT WATCH US LIVE SUBSCRIBE TO US Anand, who turned 50 on Wednesday, said competition among the world’s elite has become really tough and few players have been able to hold on to their positions. He agreed that the gap between world number one Magnus Carlsen of Norway and the rest of the players was a “big” one, but said players like Fabiano Caruana (2nd in FIDE rating) and China’s Ding Liren (3rd) were doing well in recent times. “At the moment, the gap between Carlsen and others is a big one. (Fabiano) Caruana and Ding (Liren) are doing incredibly well as well in recent times.”READ | Tom Brady’s Exit Fueled By Speculation; 5 Potential MLB Teams For Patriots QBAsked why Carlsen was so special, Anand said, “He is able to basically execute his skills. He has a lot of talent to begin with and puts in a lot of hard work. He is very good at learning new things.” Anand spoke at length about his book ‘Mind Master’ penned along with sports writer Susan Ninan, which is slated to be launched in the city on Friday. FOLLOW USlast_img read more

Facebook to broadcast Hero CPL to 54 countries

first_imgThe Hero Caribbean Premier League (CPL) has reaffirmed its partnership with Facebook with an agreement to broadcast the 34 matches this year to 54 countries. The tournament starts on 8 August 2018 and will run until 16 September.The best cricketing talent from across the Caribbean and from around the world will be taking part. Fans will be able to see the likes of Chris Gayle, Dwayne Bravo, Brendon McCullum, Steve Smith, Evin Lewis, David Warner and many other global superstars compete for the Hero CPL title.As well as broadcasting live matches, Hero CPL will be sharing unique and engaging content with fans, both during games and from behind the scenes, on Facebook throughout the tournament. All content will be available on the CPL T20 Facebook Page.Speaking about the deal Head of Digital for Hero CPL, Vishnu Kumar, said: “Facebook has been such an important part of the growth of Hero CPL over the years and we are delighted to be continuing to work closely with their excellent team to bring our fans as close to the Biggest Party in Sport as possible.”The countries where the games will be streaming live on Facebook are the following: Argentina, Austria, Belgium, Bermuda, Bolivia, Bosnia & Herzegovina, Brazil, Brunei, Bulgaria, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands, Fiji, Finland, France, Germany, Gibraltar, Greece, Hong Kong, Hungary, Indonesia, Italy,Japan, Luxembourg, Malayasia, Malta, Mexico, Netherlands, Norway, Pakistan, Panama, Paraguay, Peru, Philippines, Portugal, Romania, Russia, Samoa, Serbia, Singapore, Slovenia, South Korea, Spain, Sweden, Thailand, Tonga, Turkey, Uruguay and Vanuatulast_img read more