The Incentive Research Foundation announced the release of its signature study U.S. Federal Regulations and Non-Cash Awards. The study examines program owners’ understanding of the regulatory environment and discusses how they are adjusting their programs to accommodate these regulations.
“Most program owners understand their reward and recognition activities are impacted by the regulatory environment, but struggle with the detailed implications” said Melissa Van Dyke, IRF President. “Not surprisingly, over half of U.S. businesses have increased the dollars invested into programs to accommodate changes and close to half have increased staff support. We anticipate more and more resources will continue to be dedicated to understanding and accommodating regulatory requirements for non-cash awards programs, especially as these regulations themselves continue their refinement.”
The survey was executed summer of 2017 to a cross-section of 419 businesses, 106 of which operate in the financial services sector. Program owners were targeted based on sector and revenue size.
With a focus on key regulations – including DOL Fiduciary Rule, 274j, OSHA, FLSA, Fair Market Value, and Sweepstakes/Lottery – program owners indicated that they were highly aware of regulatory and tax codes, but less knowledgeable about how to comply with them. Many program owners reported that they find regulations unclear and challenging to accommodate, but are making numerous changes to their programs in an effort to comply.
Key findings discussed in U.S. Federal Regulations and Non-Cash Awards include:
To view or download a copy of U.S. Federal Regulations and Non-Cash Awards and supporting materials, please visit http://theirf.org/research/us-federal-regulations-and-non-cash-awards/2371/