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Bonuses May be Big but Don't Expect a Lavish Dinner or Gift April 1, 2009 (SmartPros) In the face of reports on AIG bonuses it is surprising to learn that business is fairly restrictive of the gifts employees can give and receive and how they can entertain, according to the results of a survey the Society of Corporate Compliance and Ethics (SCCE) and Health Care Compliance Association (HCCA) conducted in February and March 2009. “The data clearly shows that while the rage over Wall Street bonuses sizzle, any headlines about lavish entertainment or gift giving have to be weighed against the wider data that demonstrates remarkably restrained behavior,” said Roy Snell, CEO of the two associations.
The data revealed that close to two-thirds (63%) of compliance and ethics professionals surveyedwork either for organizations that ban gifts to employees or require that they be modest or under $50; entertainment limits follow close behind with 62% reporting entertainment by vendors andothers is either banned, limited to $50, or required to be at a modest level.
“While the definition of ‘modest’ may differ from one organization to another,” said Snell, “itappears that business is more watchful of these things than many would imagine. That vigilance is especially important given the current national mood.”
Surprisingly, a little less than a third of respondents reported that their organization had updated its entertainment policy in the last six months. This despite changes in the economy, press reports of lavish pay, use of private jets, and the use of resorts for business meetings by companies receiving bail-out money.
Not surprisingly, 73% of employers do not permit entertaining clients or the entertainment of employees at strip clubs and other adult venues. However, 26% of employers do not have a specific policy on this, while 1% permit this form of entertainment.
For the complete report, click on the following link: http://www.corporatecompliance.org/survey03.
2009 SmartPros Ltd. All rights reserved.
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