By Adam Turteltaub
adam.turteltaub@corporatecompliance.org
When discussing the impact of eliminating corruption, there are a wide range of benefits touted. But one that doesn’t come up often is: more time to eat dinner with your family.
Sales from a Korean retailer, however, show that’s exactly what is happening. Businessmen are more likely to be home earlier and eat dinner with their family now that there are strict limits on gifts.
It will be interesting to see if this trend continues, and what happens nine months or so from now. Will the increased family time lead to larger families or more family troubles?
While grocery sales and family time are booming, the war on corruption is producing a casualty: luxury watch sales. The Swiss watch industry has been hurt by a crackdown on graft by the Chinese government.
The net result is that people in countries with enhanced anti-corruption format will likely need to spend less time staring at their watch, and more time watching their waist.
It’s also a good reminder that there are always unintended consequences with any type of enforcement, including internal compliance efforts. Some will benefit. Others won’t. But we need to keep our eyes open to see if while we’re plugging a leak in one place, we’re causing a leak somewhere else.
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