Bonuses Withheld at BP

An article posted on the Huffington Post, cites that BP is blocking bonuses to top executives in charge of the Gulf of Mexico operations. This includes CEO, the former head of exploration and production.

BP PLC said, “The board’s remuneration decisions for 2010 were dominated by the scale and impact of the Gulf spill, which began with the April 20 explosion on the Deepwater Horizon rig that killed 11 workers and led to the worst oil spill in U.S. history.”

The new CEO, Bob Dudley was the only executive director to report a salary increase. His earnings went from$750,000 to $1.18 million.

In terms of employee engagement, this shows accountability on the top end for a very publicized crisis. In return franchise owners who took a hit from BP boycotts after the oil spill can feel better that upper management is taking responsibility for their actions. As a whole this benefits the public’s opinion of the company as well employees apart of BP.

-A.T.

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About internalmarket

This blog and its accompanying Twitter account have been established as social media learning tools for the Internal Communications and Employee Engagement class at Columbia College Chicago. Through this blog, we will share our observations about current events, change management and employee communications theory, and the application of social media in shaping employee engagement.
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