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IRISH WATER HAS responded to yesterday’s revelations that staff will be eligible for annual bonuses of 19 per cent.
RTÉ’s ‘This Week’ programme revealed that even staff who were listed officially as ‘needing improvement’ by their superiors could get pay boosts.
Here’s how the payments are broken down…
In a statement today, Irish Water said that the pay model in its parent company Ervia had been “established to reinforce a performance driven organisation culture” in a manner “consistent with best practice for commercial utilities”.
It’s absolutely not a bonus scheme, the semi-state explained, noting…
Pay is externally benchmarked and includes salary and ‘at risk’ performance related awards (PRAs).
Total pay is benchmarked at a market average, the statement explains, but a percentage of salary is ‘at risk’ for each employee — and a full salary can only be achieved if performance targets are met.
In effect, this means salaries will reach the median of the market only if performance targets are met in full.
A performance related award in excess of 19 per cent could only be achieved “in exceptional cases” and the payment is “entirely at the discretion of the company”.
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Great, 84 new real estate agents.
I’ll cross my fingers for them as I believe the Central Bank just strangled their golden goose.
The main problem we have is the amount of money being taken out of our economy to service a debt run up by irresponsible banks, both here and abroad. Until that problem is tackled there just isn’t enough money in our economy for real sustained growth for indigenous businesses. I’ve only stayed in business because I did not have huge loans to service and I was able to keep my overheads low. Ive seen plenty of good businesses go under because they can no longer sustain the overheads imposed by landlords & councils that still work on tiger prices.
Michael,
The banks were less than half the problem. The collapse of govt revenue and inability to cut the servicing of public services quickly to match revenue was just as big a problem
That’s true James.
Isn’t that it will “beat all predictions” a prediction, meaning that it can never actually beat all predictions?
Another flash in the pan.
have your say