Most City banking staff that have received deferred bonuses say they do not influence their decision to stay put at their current employer, according to Hays Financial Markets.

Geoff Fawcett, directorof Hays Financial Markets, says: “Despite the public backlash, bonuses have retained their importance in financial organisations with around half of employees saying they will leave their organisation if they don’t meet their expectations. With over half of front line staff indicating they are not satisfied with their bonus this year and increasing government pressure, the banks are going to need to look for more innovative ways to retain top talent and boost morale.”