Businesses should offer the chance to receive reward and recognition awards for all of their workers.

This is the opinion of Mike Ogilvie, managing director at OBC the accountants, who said personnel expect to see their bosses earn more than them, but they may be opposed to large gaps in wealth.

He argued: “If they see there are rewards at the top there should be some sort of opportunity to get rewards at the bottom as well.”

The expert explained there is a difference between leadership and management, with the former focusing on transparency and fairness – something employers should aim for.

His comments come after Lloyds Banking Group announced it would lower its bonus payments this year for 13 senior workers to distribute accountability for the payment protection insurance scandal it was embroiled in.

The government pledged to regulate the banking sector, which has been criticised for giving out excessive staff rewards that are not linked to performance, but Mr Ogilvie said he does not think this goal has been realised.