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Gardening leave: Difference between revisions
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As a matter of solemn & immutable practice, therefore all such employees are frog-marched off the premises and “forced” to sit at home for between three and twelve months on full pay from the moment they resign: the more senior the employee, the longer the period at the greater monthly salary. | As a matter of solemn & immutable practice, therefore all such employees are frog-marched off the premises and “forced” to sit at home for between three and twelve months on full pay from the moment they resign: the more senior the employee, the longer the period at the greater monthly salary. | ||
Now a | Now, a naïf might suppose that multinational [[investment bank|investment banks]] should be made of sterner stuff, especially as they’ll generally have as many people arriving who can spill such wondrous secrets as they’ll lose in any given period. (Investment bankers are nothing if not fickle: the turnover is conservatively 10% per annum). | ||
This is to forget that these sorts of micro employment policies are set not by shareholders but by fellow employees who fancy a similar deal as and when they switch jobs. | This is to forget that these sorts of micro-employment policies are set not by ''shareholders'' — did you ever hear the question of gardening leave come up at the AGM? — but by fellow employees, all of who fancy a similar deal as and when ''they'' switch jobs. Gardening leave is just one more manifestation that is to say, of the ''[[agency problem]]''. | ||
Investment banking pay is scandalous enough before you consider that one salary in ten in a given year is paid to the already departed. | Investment banking pay is scandalous enough before you consider that one salary in ten in a given year is paid to the already departed. | ||
{{sa}} | {{sa}} | ||
*{{confiprov|Non-solicitation}} in a [[confi]]. | *{{confiprov|Non-solicitation}} in a [[confi]]. | ||
*[[Bonus]] | |||