In the lexicon of the Russian business came relatively new term - "golden parachute".What is this phenomenon?What are the prospects for its further promotion in the Russian business environment?Why
golden parachute and why?
term "golden parachute" came from the British - where the phrase "Golden Parachute" is an impressive compensation (usually to the top manager), if the employment contract is terminated."Parachute" - because when dismissing a person is guaranteed a "soft landing", and "gold" - as the figures in such agreements often simply astronomical, sometimes millions of dollars.Compensation may also have an indirect format as laid off employees to access the company's shares at preferential prices.The question is, what benefit the company from such generosity?
The answer is simple: "golden parachute" to protect business from acquisitions.The company intends to buy up shares of competitors, think very carefully before doing this - the possible payment of managers sitting in the "golden parachutes", can become unbearable financial burden.Of course, there is a loophole for corruption - managers signed the "golden" contracts may intentionally help competitors to absorb their employer.However, if in the preparation of an employment contract worked competent lawyer, you can register items that protect businesses against such ploys.In addition to the "golden" world practice knows "silver" (they get middle managers) and "tin" (paid ordinary employees) parachutes.
With "golden parachute" - retired
One of the largest Russian companies in the financial turnover - "Gazprom"."Golden parachutes" as the phenomenon is not alien to this company, but their practical application in the "gas giant" has a fairly mild form - is largely pension payments that get employees with years of experience at the end of his career.
However, as stated in some media, "Gazprom" can significantly reduce their "golden" social programs - for example, in some regions, where the working group in the seniority of employees, which is required for "retirement golden parachute" ceased to be taken into account during theworking in other companies.Some experts believe that such a policy is a "gas giant" - the result of handling the country's president about spending cuts in this company, majority stake owned by the state.There is also a version that the leaders themselves subsidiaries of "Gazprom" is not against the revision of measures of social support for employees.
«golden parachutes" and Russian reality
Our economy was built in extremely difficult conditions.Therefore, the "golden parachutes" in Russia inevitably acquired a national identity.First of all because they were marked as a relatively recent phenomenon: in 2009 alone, the Federal Service for Financial Markets was put forward an amendment to the law "On Joint Stock Companies", according to which leadership positions appears to compensation on termination of the employment contract.
why legislative regulation of "parachute" is complicated by the fact that the practice of charging "gold" bonus in Russia is very young.Some experts say: the payment of compensation of top managers does not always go in the "white" schemes.This is typical of a Russian problem.Very often, the real figures on the size of the "parachute" remain a mystery - one prescribed in the contract value, but in the hands of a person gets absolutely other money.
weighty word of the judge and public opinion
in Russian judicial practice, there is precedent for the recognition of payments on "golden parachutes" incompetent.At the same time, this fact has caused a wide public resonance.Get the amount of several million rubles into the early dismissal was a top manager of "Rostelecom" Alexander Provotorov."Golden parachutes" for a designated telecommunications giant, has caused significant resonance in the business community.
company's shareholders filed a lawsuit against the decision (it took the board of directors).Following the hearings - the appointment of payments was considered ineligible.However, this judgment was appealed.But the most important thing in this story - the most general public knew what a "golden parachute"."Rostelecom" unwittingly contributed to this.The opinion of the enormous severance pay of top managers expressed by representatives of the highest echelons of power.
"golden parachutes" mouth activists
work on the law, signed by the president, was initiated by the activists of the political union "National Front".It is believed that during the meeting the community members of the organization with the President raised the issue of state intervention funds at the disposal of state-owned companies.Regarding the fact noted above calculation of the "golden parachutes" in the amount of 200 million rubles Alexander Pravotorova of "Rostelecom" activists expressed bewilderment.Russian President supported these sentiments.
planned that the size of the "golden parachutes" salaries will be limited to 6, but the State Duma deputies were in favor of a significantly higher limit - three monthly payments.Activists of the "Popular Front" at the same time planning to lobby for new laws, including those that limit the size of the monthly earnings limit not only for the top managers of state companies, but also for staff at all levels.
Parachutes under state control
State Duma in response to public initiatives, approved a bill under which the amount of benefits for dismissal of persons holding senior positions in government (and municipal) companies, would be limited to three salaries.Complete abolition of the "golden parachutes" at the same time lawmakers have not considered.In early 2014, the Russian president signed a law that restricts the payment of "golden parachutes" to top-managers of corporations, which owns a controlling stake in state structures.Thus, the initiative of the Federal Service for Financial Markets has received additional legislative regulation.Some media appeared information that restrictions on payment of "golden parachutes" and can touch and state extra-budgetary funds.Also, the limit on compensation for dismissal can affect not only the directors of state organizations, but also the accountants and members of supervisory boards.
catch up and overtake "Rostelecom»
Before resonance case with Russia's largest telecommunications corporation, some market participants, a majority of which was controlled by the state, did not hesitate to indulge their top managers with "golden parachutes."So the facts are known, when the senior managers in major energy companies receive a lot of benefits (sometimes numbers exceeded 130 million rubles).The precedent associated with the "golden parachutes" in Rostelecom, according to experts, can not affect the segment of private corporations.There are instances when CEOs of the largest steel companies received payments for the dismissal of several tens of millions of dollars.In 2010, when a controlling stake in the "BRIC" change the owner of the company dismissed several top executives.One of them received compensation in the amount of 200 million rubles.
«Parachutes" - an international phenomenon
Experts estimate that the average size of the "golden parachutes" in the US - about 12% of the profits earned by the company during the year (equal to about 1.7% of the share price of the company).However, after the crisis in 2008-2009, the country with the largest economy in the world have adopted a number of resolutions that imply restrictions on such payments (though in the original formulation - with respect to high-ranking positions of banks).
Countries "Big Twenty", including Russia, undertook to develop criteria for evaluation of heads of credit institutions to have been no cases where a bank is unprofitable, and the director goes to the "Mercedes".However, this initiative, as experts note, yet is only a guide.G20 position is understandable - in the crisis years, despite falling markets and destruction of banks, managers of some financial institutions have received very large bonuses after the dismissal.
Europe against the "parachute"!
in Switzerland - the main "banking institution" of the world - "golden parachutes", as shown by one of the referendums are not held in high esteem.The citizens were in favor of salaries and bonuses to executives of large companies were limited.And such a thing as severance package, canceled altogether.The idea to hold a referendum in the country came under the influence of the global crisis.The low efficiency of corporations and banks were striking against the backdrop of huge salaries executives.Among drug companies was a precedent to the payment of the former president of the company's $ 80 million as a "golden parachute".In return, he promised not to get to work in a competitive firm.
Swiss public nicknamed paid top managers "fat cats".Experts note that the Parliament and the Government of Switzerland did not support the mood of the public is able to overflow into a separate bill on "golden parachutes".It is believed the authorities may reduce the competitiveness of the state, will trigger the migration of talented people able to manage.But there are also supporters of the initiative, said that investment in Switzerland will go just the same activity as the company will pay a stable dividend to shareholders instead of spending money on yet another "golden parachute".
