What has your employer done to make you feel good lately? Probably not as much as German insurance giant Ergo. The large-scale insurance provider recently spent company funds to send a group of its workers to a swingers’ hotel in Jamaica. The trip was not exactly hidden after officials published those expenses via an internal audit on a public website.
According to Reuters. Ergo is the primary insurance unit for Munich Re, the world’s biggest re-insurer.
This is not the first time Ergo has come under fire for sex related work expenses; in 2007, the company was found to have hosted a sex party in Budapest. The party was used to reward the company’s top executives for their hard work.
Ergo on Sunday afternoon revealed 12 more incidents that also occurred on the company’s dime. Among those incidents were tickets purchased to a strip club in Estonia.
Company CEO Torsten Oletzky decided to publish the findings from more than 500 incentive trips in order to show complete transparency regardless of the outcome.
In revealing the rather troubling findings, Oletzky said in a public statement:
“With the published material, you can make your own judgment.”
Company officials spending millions of dollars on extravagant trips is nothing new for the corporate world; however, in most cases, those trips are not taken to exotic locations where sex parties are guaranteed to occur.
It’s still unclear how the transparency versus the sexual acts will affect the company’s bottom line.
Do you think employees need to be fired over this incident?