«golden parachute" - what is it?A relatively new concept for Russia involves the payment of monetary compensation to an impressive top-manager in the case of dismissal from the company beyond his very reason.Currently, few domestic leaders boast literacy parting with employees.So far, few companies use this practice, considering it is alien to our mentality.
«golden parachute" - what is it?As the financial dictionary "Finam", this payment accrued to senior management of the company in its merger.In addition, owners can use the stock material rewards of such a plan in order to prevent a hostile takeover.In the official documents governing the functioning of the company, make a difference, according to which management receives a solid compensation, large severance payments, and so on. P. In the case of dismissal on the initiative of the new owner.
Simply put, the "golden parachute" severance - a contract concluded with a top manager of the company, providing for the payment of large sums of money under certain conditions.This compensation may be paid in a lump sum or on a monthly basis in the form of wages, even after termination of employment.The alternative - the provision of certain benefits such as shareholdings or pension payments.
This phenomenon is in its infancy in Russia.Another five to seven years of any compensation and the speech was not.Often the bonus payments to the employer puts a condition, for example, not to go to serve in the competing company for a specified period.
What is it?
Considered compensatory measure introduced mainly in order to pay off the discontent to dismiss top managers.In addition, it is believed that more than a solid incentive payments prevent fraud within the company, such as asset stripping.Another important point: "parachute" leads to negative consequences for the party which produces the absorption of a legal entity, and softens the blow to lay off employees.
In Western countries, a fairly common practice to include the item on compensation in case of early termination of employment.It is noteworthy that the US and European employers provide severance pay not only top management but also middle-level managers.
Depending on the level of employees and the size of payments distinguished "gold", "silver" and "tin" "parachutes".First designed for managers, the second - for middle managers, and others - to leading specialists and junior management.
size of the "golden parachutes" for top manager can pass all bounds.It all depends on the company's management and activities.So, the biggest "parachutes" "disclosed" for financiers and bankers.For example, in the United States (that is where the concept was born like that) in the infamous 2008 crashing investment banks could not refuse from the established obligations, so even bankrupts to pay their top managers of billions of dollars in compensation.
gigantic bank losses have prompted the US Congress to vote for the decision to limit the compensation payments and a complete revision of the level of salaries of senior management.
And how are we?
in Russia "parachute" practice evolved into a very unstable economic conditions.In August 2009, amendments to the law "On Joint Stock Companies" have been made by the Federal Service for Financial Markets.As a result, steel allowed CEO compensation and board members, which are repaid ahead of the employment relationship.It is clear that today it is too early to talk about the ideal in this respect legislation.That's why there are still a number of problems, faced by organizations, decided to issue a "golden parachutes" to top managers.
Based on Russian law, we note that at the present time "golden parachute" is a prerequisite for financial compensation in the event of termination of employment relations, which is prescribed in the employment contract or made out in the form of a supplementary agreement between the employee and the employer.This compensation is paid in the following cases:
- dismissal by agreement of the signatories to a contract of employment (Art. 78 of the LC RF);
- dismissal due to redundancy (Art. 81, para. 2 of the LC RF);
- the liquidation of the company (Art. 81, para. 1);
- dismissal of an employee on their own (v. 80);
- change of ownership of the company (also applies to the chief accountant, manager and persons acting for him, v. 81, n. 4).
In reality, the formalization of the so-called compensation in Russia does not occur very often.This is primarily the dismissal of foreign employees and domestic top-class professionals with experience of working abroad.This standard Russian problem is the difficulty in providing financial compensation for the payroll of the so-called gray schemes.
What is more important, money or gratitude?
often possible to observe such a situation: the company's management decided that they no longer need the services of a certain top manager, as he supervised the direction to be closed.Man thus not important to get money, and respect for the employer, as he considers himself an experienced and valuable person.With such a problem faced many employees of Russian companies during the 2008 crisis.Especially while injured people involved in real estate and insurance.
How to ensure the loyalty of the dismissed?
«golden parachute" - what is it?Considered compensatory measure allows you to keep a good attitude is a former employee of the company, even though for some reason there was a break of the labor agreement.The specialists of staff made a thorough analysis of the causes of dissatisfaction dismissed.This process is an integral part of the work of HR-brand any self-respecting organization.That is why every departing employee held the final interviews, the results of which revealed his attitude towards the existing labor conditions, wages, colleagues, employers.
What are the real reasons that the practice of financial compensation is not widespread in Russia?Answers to this question a few.The first thing to take into account the fact that most domestic companies are managed by the owners, and "golden parachute" will minimize the dependence of a top manager of the business owners.Giving his case in the hands of a hired manager and make it independent and financially profitable and psychologically uncomfortable.
In addition, there is an opinion that the practice of "golden parachutes" in the absorption leads to erosion of shareholder value is not less than twelve percent, as the material to insure the employees are not afraid of losing their jobs, which often entails a decrease in their productivity.
third reason: with the addition of the considered material payments to the compensation package of senior staff and the owners of the shareholders increase the risk of "parachuting" of blackmail, if they have not worked out a clear mechanism for monitoring and control of salaried employees.
«golden parachute" - what is it?If the parties play fair, it becomes an incentive to improve the efficiency of work.For example, the owner intends to put the company for sale, but not sure about the impact of the transaction.For the purposes of capitalization it is gaining a team of professionals, each of which promises payment of remuneration as a guarantee of income.
This approach works where people do not lose face, and do not try to manipulate each other.
biggest "golden parachute" to "open" for Richard Fulda - former CEO of US bank Lehman Brothers.After his discharge, he became richer by three hundred million dollars.The most "expensive" domestic manager - Vladimir Strzhalkovsky - former CEO of "Norilsk Nickel".His wallet was replenished by one hundred million dollars.Second place went to the former president of "BRIC" Denis Morozov.He was paid about seven million dollars.In the third stage located Alexander Provotorov.Ex-director of "Rostelecom" received two hundred million Russian rubles as compensation.
reaction of the president.The law "On the" golden parachutes »
disputes about the amount of financial compensation, which were obtained by Provorotov not abated for a long time.Against the background of the controversy on this subject many deputies noted that the limitation of "golden" parachutes would be appropriate measure in the current economic conditions.The initiative was endorsed by Vladimir Putin.As a result, in May 2013 the State Duma introduced a draft law to restrict payments to top managers at dismissal.In March 2014 it was approved by the Federation Council.Now the "golden parachutes" for the officials can not be more than three of their salaries.In addition, the Labour Code added to an article that says that compensation payments can not get the person dismissed on the basis of disciplinary action, or because of misconduct.
important provisions of the new law and the amendments to the TC applied to the leaders, their deputies and chief accountants of public companies and corporations, state unitary enterprises and municipal unitary enterprises, as well as firms with the participation of the municipality or the state.