Morgan Stanley gives bonus to boost employee motivation

Date: 21/01/2011

Employee motivation at Morgan Stanley will be high this week as the US firm has announced it is giving staff a bonus of $16 billion (£10 billion).

The news, which is a welcome boost to staff morale, comes after the firm announced that its profits had tripled from 2009 from $1.3 billion (around £80 million) to $4.5 billion (around £2.8 billion) .

Around 65,500 staff will receive an average in pay and bonuses of $255,000, (£160,000).

James Gorman, president and chief executive officer, said: "Morgan Stanley delivered improved performance across most of our businesses during the fourth quarter, and the strength of our premier client franchise was evidenced by participation in virtually every major transaction that helped raise capital for governments and leading corporations across the globe."

He said that although he was pleased with the progress in the past year, there was still a lot of work to be done, as the firm aims to deliver "first-class service to our clients and long-term value to our shareholders and employees".

Morgan Stanley is the latest firm to announce a boost employee motivation, as recently Tesco and Siemens also announced it would be rewarding workers for their hard work with bonuses.

And Asda also offered staff discounted gym membership to raise morale among workers.

Posted by Elizabeth Mewes 

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