Variable pay debate in Swedish media

Min chef är en bra chef. I går bloggade han trots att han var på semester. (Han bloggar med personalen varje dag annars)
E24 and other media have once again raised the issue of variable pay.
Swedbank shareholders have the view that variable pay is a reasonable part of our remuneration structure and hence voted for our existing remuneration policy at the last Annual General Meeting.
Managements view is that variable pay needs to be performance based, reasonable vs fixed salary and hence capped. It does also need to be discretionary, giving the company the right to adjust performance criteria during the year if significant changes in environment warrant that.
In comparison to other banks we have a moderate level of variable pay, we are not maker leaders. 
Regarding our dependency on the state – yes we are dependent through the state guarantee but we are paying a fee for that which means that the tax payer is not picking up the bill. However, we are also dependent on our staff and need to be able to compete with reasonable terms.
Slut citat!


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