Canongate has introduced a new incentive plan for staff, following last year’s record-setting sales of £28 million. (For the current year ending March 2023, sales were £19.7 million.) The plan, called Canongate Bonds, pays out staff members when shareholders receive payouts, with the first payments distributed last month. The payments will take the form of an annual dividend at the same rate as shareholder. This is on top of the company’s existing bonus policy. “Bonds” were given to everyone who has been at the company for three years or more. Every additional year worked earns additional bonds. COO Kate Gibb […]
Salaries
HBG Raises Base Pay to $47,500
Hachette Book Group has raised their entry-level pay to $47,500 a year (up from $45,000) for employees in high-cost locations. They told PL in a statement, “In response to an extensive review of compensation across our functions and locations, Hachette Book Group will increase its starting salary in New York and other high-cost office locations to $47,500, with corresponding increases in other locations. We will adjust salaries at adjacent compensation levels, as we always do, to address salary compression.” They added that “all HBG employees are eligible for bonuses which will be awarded as part of the compensation review process.” […]