Bonus Watch ’12: Barclays Employees To Get Paid (Or Not) For Being ‘Good Citizens’

Breaking the speed limit in a school zone, for example, will cost you a couple mill, while volunteering with your local Boy Scouts chapter to help the troops earn their “Libor Manipulation” badges will translate to a few extra zeros on payday.

Barclays’ new chief executive said he will pay employees based in part on whether they are good citizens, as the British bank tries to restore its tarnished reputation. Within the next six to 12 months, Barclays will devise a “balance scorecard” with metrics that measure performance across a range of areas, including how the actions of executives affect the environment, Antony Jenkins said in a brief interview on Sunday at the Clinton Global Initiative…Jenkins, who previously ran Barclays’ business and retail banking division, said he managed the unit with a scorecard that rated employees on how their actions affected all stakeholders, including investors, customers, other employees and “society.” The scorecard includes a “citizenship” component, according to a bank spokesman. A similar benchmark must be established at the Barclays Group level, Jenkins said, but declined to provide details about how short-term goals such as shareholder returns will be weighted against longer-term societal goals.

Barclays New Chief Ties Compensation To Societal Goals [Reuters]

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52 Responses to “Bonus Watch ’12: Barclays Employees To Get Paid (Or Not) For Being ‘Good Citizens’”

  1. Cynic says:

    "Citizenship Component" = IFF = another unquantifiable metric used to justify screwing you harder. Meh.

  2. Satan says:

    I'm fucked

  3. HAM05 says:

    giving out handjobs in the men's restroom; that a debit or a credit?

  4. Anon says:

    Wow, your work is not done there yet ?

  5. guest says:

    Frequents strip clubs="Supports the artistic development of refugees from formerly repressed eastern European countries."

  6. guest says:

    Antony Jenkins' 2012 Employee Retention Plan

    1) Give out shitty bonuses
    2) Justify their shitty bonus by calling them assholes
    3) Kick them in the balls and laugh at them as they cry out in pain
    4) Sleep with their wife and make them watch
    5) And after all that, tell them that if they are not happy they can go work for UBS

  7. jenkins says:

    also, we will invite a representation from occupy and greenpeace to give their input into your annual review and bonus

  8. Curious on DB says:

    What if I speed through a school zone to catch a climpse of a boy scout?

    -Curious on DB

  9. pazzo83 says:

    How many Libor manipulations does it take to get a ride in the hot air balloon?

  10. guest says:

    Effective immediately, volunteering will be mandatory for all employees.

    A. Jenkins
    CEO/Minister of Truth

  11. TheDetailGuy says:

    Ayn Rand is not pleased!

  12. PermaGuestII says:

    I walk to the subway and take that to work. Therefore I have a smaller carbon footprint than the guy on my desk who drives in every morning from Tenafly. Can I have his bonus as well as mine, then?

  13. ILoveLamp says:

    What do you call a Barclays employee who totally disregards societal goals and focuses exclusively on increasing the size of his bonus: Senior Managing Director

    What do you call a Barclays employee who takes to heart Jenkins's admonition to become a better citizen and balance the bank's profit objectives with larger societal goals: Assistant Vice President

  14. guest says:

    Jenkins the latest illustration of the fact that there is no better job in finance, or in any industry really, than CEO or chairman of a big bank in the immediate wake of a major scandal or loss.

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