Feeds

Capita's top brass bags 20% rise - as IT bods shiver in wage freeze

Staff and bosses locked in salary talks for 2013

Internet Security Threat Report 2014

Capita's top bosses' annual compensation packages rose by a fifth last year - at the same time the UK outsourcing giant's IT Services (ITS) workers had their wages frozen and bonuses scrapped.

Hard-pressed ITS staffers, who are thrashing out a pay deal for 2013, were furious when they learned of the windfall enjoyed by execs at the AIM-listed firm. Salary increases for the IT services arm were stalled when the division's performance failed to meet the management's expectations.

According to Capita's financial report for 2012, the company's "key management personnel" pocketed £7.6m in short-term employment benefits, up from £5.5m a year ago.

Pension contributions fell to £100,000 from £200,000 and share-based payments remained the same at £3.6m; total rewards for the aforementioned "key management personnel" stood at £11.3m, up from £9.3m.

"Where's the austerity?" asked one Capita worker. "Where is the budget tightening that we are told is occurring at all levels?"

A pay review for ITS staff for the coming year was started on 1 April, but if results from last year are any measure, a bumper pay day is hardly around the corner: turnover at the unit fell 0.67 per cent to £633.4m. The chilly economy was blamed for the slip.

We asked Capita to explain why execs were given raises last year but the company avoided the question. A spokeswoman did however confirm the annual pay review for all ITS people is underway.

"It would be inappropriate for us to comment further, given that this is a confidential matter between the company and its employees," she stated. ®

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.