Issue 42
BP links bonuses to safety performance
Oil giant BP is to link staff bonuses directly to safety performance in the last quarter of 2010.
The group’s chief executive Bob Dudley made the announcement ahead of a review of the BP reward structure in early 2011.
The company previously used a range of criteria to assess variable performance pay, but will now use the single criterion of safety and risk management performance.
The new assessment criterion will apply to employees in manufacturing and operating units across the group.
Given the disaster on the BP platform in the Gulf of Mexico where 11 people lost their lives, a well-known phrase that includes stable door, bolted, horse and closing comes to mind.