Wednesday October 22, 2014

Barclays ties compensation to societal goals

New Barclays CEO Antony Jenkins plans to designate a portion of employee’s compensation to be decided based on whether they are good citizens.

The Chicago Tribune is reporting that new Barclays PLC Chief Executive Antony Jenkins is setting a new policy to “pay employees based in part on whether they are good citizens.” The initiative is part of the British bank’s efforts to restore its tarnished reputation. Jenkins made his pledge earlier this week at the Clinton Global Initiative. “Within the next six to 12 months,” he vowed, “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.”

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