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{{A|work|{{image|Donut|jpg|}}}}{{ | {{A|work|{{image|Donut|jpg|}}}}{{d|Bonus|ˈbəʊnəs|n|}} A time-honoured incentive plan for agents, by agents. | ||
====“Ownership” and “service”==== | |||
{{Drop|F|inancial services firms}} have long struggled with the distinction between ''ownership'' and ''service''. A firm’s ''owner'' takes her reward from the investment of capital — cash that the firm uses to acquire kit, rent premises, pay suppliers and hire staff, all in the collective enterprise of selling goods and services. | |||
As long as firm’s return from doing that exceeds that capital outlay, the firm is making money and its shareholders will see a profit — simplistically, that net return, divided by the relative size of their stake. | As long as firm’s return from doing that exceeds that capital outlay, the firm is making money and its shareholders will see a profit — simplistically, that net return, divided by the relative size of their stake. | ||
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In sum: a shareholder contributes not labour, time or effort but ''money'' and is rewarded with ''profit''. A servant contributes labour, time and effort, in order to create profit, and is rewarded with ''money''. | In sum: a shareholder contributes not labour, time or effort but ''money'' and is rewarded with ''profit''. A servant contributes labour, time and effort, in order to create profit, and is rewarded with ''money''. | ||
====On measuring value==== | |||
In a perfect world — for a landed capitalist, at any rate — servants would be paid only for what they contributed. This is easier to measure for some workers than others: for salespeople it is straightforward. For back-office staff, less so. For legal officers [[legal value|more or less impossible]]. | In a perfect world — for a landed capitalist, at any rate — servants would be paid only for what they contributed. This is easier to measure for some workers than others: for salespeople it is straightforward. For back-office staff, less so. For legal officers [[legal value|more or less impossible]]. | ||