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#1357495 - 03/15/10 03:39 PM
HR saying we have to give back prizes
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Diamond Poster
Joined: Nov 2004
Posts: 1,005
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HR just issued a memo that any prizes, gifts, or cash received at seminars or classes have to be either returned (not accepted) or given to the financial institution for donation to charity.
Is anyone else not being allowed to accept prizes? I know last year our CFO won a Wii at a conference and another employee won a digital camera at a conference.
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#1357518 - 03/15/10 03:55 PM
Re: HR saying we have to give back prizes
river girl
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Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
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We get prizes often, but they're reflected on our paystubs and taxed accordingly.
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#1357771 - 03/15/10 08:07 PM
Re: HR saying we have to give back prizes
Kelsey D
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10K Club
Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
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And what is the rationale for this edict?
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Providing alternative truths since the invention of time
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#1357881 - 03/15/10 10:47 PM
Re: HR saying we have to give back prizes
HappyGilmore
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10K Club
Joined: Jul 2001
Posts: 83,418
Galveston, TX
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That would be my exact question.....
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#1357953 - 03/16/10 12:44 PM
Re: HR saying we have to give back prizes
rlcarey
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Power Poster
Joined: Apr 2005
Posts: 3,663
TN
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Sounds like they are trying to tag on the Bank Bribery Act and ethics, or trying to avoid the appearance of largesse (spelling?) that was critized last year by the media. Remember all the articles about bank trips, bonuses, "referral" fees via golf trips etc from headhunters, personal jet use by executive management, etc.
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I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.
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#1358085 - 03/16/10 03:07 PM
Re: HR saying we have to give back prizes
Dani York, CRCM
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10K Club
Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
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That seems quite petty and short-sighted, as if anyone would think that winning an autographed football or a dozen golfballs would garner media scrutiny. However, if these are the rules, and they pay for you to attend the seminar or class, then I guess you have to follow them. I've attended numerous trade shows, seminars, and classes, and the biggest gift I've ever seen given (not including free registration for the same show next year) was an Ipod and a Big Bertha driver...I'm fairly certain no media would bother reporting on that
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Providing alternative truths since the invention of time
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#1358090 - 03/16/10 03:10 PM
Re: HR saying we have to give back prizes
HappyGilmore
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Power Poster
Joined: Apr 2005
Posts: 3,663
TN
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That seems quite petty and short-sighted, as if anyone would think that winning an autographed football or a dozen golfballs would garner media scrutiny....I'm fairly certain no media would bother reporting on that I totally agree, but management may be worried about public opinion. It all depends on their market.
_________________________
I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.
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#1358385 - 03/16/10 07:57 PM
Re: HR saying we have to give back prizes
manylayers
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Power Poster
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
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Very strange; I agree it seems rather petty for the types of items I have seen.
Wouldn't 1099 reporting be the responsibility of the company gifting the item?
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#1358471 - 03/16/10 08:41 PM
Re: HR saying we have to give back prizes
BrendaC
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10K Club
Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
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so if a customer bakes cookies and brings it to the branch manager at Christmas, will they tell the customer no? How do you explain to Ms. Jones, the 72 year old grandmother who has banked with you for over 50 years that you can't accept her cookies? Or if the President is out for lunch and the head of the Rotary Club offers to buy him lunch, is that a no as well?
silly rule...
I worked for many years at the Federal Reserve and we were forbidden from accepting any gifts from customers "unless the refusal of said gift would cause embarrasment" to the customer. However, if I attended a training session or conference and vendors were giving away door prizes, I was certainly eligible to win.
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Providing alternative truths since the invention of time
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#1358781 - 03/17/10 02:09 PM
Re: HR saying we have to give back prizes
HappyGilmore
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100 Club
Joined: Jul 2007
Posts: 135
Texas
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There is a big difference between winning a door prize at a seminar and being given some valuable gift to influence a loan decision. We have to disclose everything - even the smallest door prize - but we are allowed to keep them. Our ethics policy is very specific about gifts directly from customers.
I wonder what led them to such a decision?
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#1360700 - 03/19/10 02:38 PM
Re: HR saying we have to give back prizes
GoneToTexas
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Diamond Poster
Joined: Feb 2002
Posts: 1,466
USA
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Plus, if your institution has been recently criticized or has appeared in the media, I could see such a policy being implemented.
Our long standing policy is that employees are not allowed to accept gifts from customers (although we do accept cookies). Prizes won at Banking Association events, trade shows, etc. and not included in this policy.
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"No problem can withstand the assault of sustained thinking." ~ Voltaire "Sustained thinking gives me a headache." ~Me
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#1391884 - 05/17/10 03:20 PM
Re: HR saying we have to give back prizes
Kathleen O. Blanchard
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Platinum Poster
Joined: Apr 2005
Posts: 684
Jersey Shore
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Our policy not only restricts gifts from customers but also accepting gifts from our vendors or potential vendors. If the valus is less than $25., we may accept it.
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