Tiger Woods: Answer to Ethical Lapses
Employers have codes of ethics or business conduct. The purpose of these codes is to deter employees, particularly executives, from doing something that probably helps the executive but definitely hurts the employer. Such misconduct costs employers a lot of money and is excruciatingly embarrassing.
Take the last two years. Economic ruin was avoided only because we taxpayers agreed, through our congressional representatives, to bail out the ethically challenged.
Recently, the House passed a plan to tighten regulation of Wall Street and banks. Barney Frank, the plan’s chief architect, said after the House vote: “We . . . will allow the most productive parts of the free market economy . . . to play the role they should play, but with much less chance of abuse.” In other words, never again.
Critics say the plan creates more bureaucracy that won’t be any more successful in advancing ethics than present bureaucracy. They also say the extra regulatory agencies required will cost $150 billion.
The fall of Tiger Woods shows the way forward. Either the government or the private sector should place $150 billion in a “trust fund” and put out the word that anyone who can prove involvement with an executive in a scheme to defraud shareholders, customers, or the public will be paid $1 million. Once people start coming forward and executives realize that $150 billion can last a long time, ethical lapses will be stopped in their tracks.
Similarly, if it violates an employer’s code of ethics for an executive to have an affair with a subordinate employee, the employer should routinely send out a memo to employees, announcing that any employee who can prove an affair with an executive will be paid, oh, let’s start with $100,000. C-Suite dalliances will end. Marriages will be saved. Embarrassment will be crushed. Even The Man Gene may finally meet its match.
Money causes ethical lapses. Why not use it to prevent them?
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About Chris Parker
Chris Parker's practice focuses on the representation and counseling of companies in matters pertaining to the workplace and the protection of their intellectual property and trade secrets. In addition to serving as an advocate for clients, Mr. Parker is also trained as a mediator and frequently serves as a third-party neutral.
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About Jimmy Daniel
Jimmy Daniel provides counseling to businesses of all sizes related to the employment relationship. He assists in the drafting of employment agreements, policies, and handbooks, as well as provides guidance related to compliance with federal, state, and local legislation such as the Fair Labor Standards Act and the Family and Medical Leave Act.
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About Larry Bridgesmith
While serving in an Of Counsel relationship with the firm, Mr. Bridgesmith also serves as the Executive Director at the Institute for Conflict Resolution at Lipscomb University and as an officer and principal in Strategic Resolutions Group, LLC. In these roles, Mr. Bridgesmith brings over 30 years of legal experience in dispute resolution and innovative workplace strategies to clients, students and business entities alike.
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John: This is a great idea! Please get together with some of your lawyer friends and see if you can get it passed.
Nae,
Don’t hold your breath. I really do think it would work, however.
John