Brand reputation and stakeholder trust are the two most essential components of a business. Many experts believe that workforce involvement can enhance brand reputation by empowering the workspace environment. It is equally crucial to acknowledge your business needs and resources. Ensure you facilitate a strong foundation and nurture a culture of values and integrity. Revise and re-evaluate your business plans per the change in market strategy. In one of their articles, Ethics & Compliance Initiative shares how you can shape the ethical conduct of your business.
Ways to Upscale Ethical Conduct
Evaluate Your Resources
Here is a list of questions you should ask to empower ethics and compliance:
- What are the possible ethical challenges in your industry?
- What are the potential hotspots of business risks?
- What are the central values of your firm?
- What deals can enhance your ethical conduct?
- What ethics and compliance can prove beneficial to employees?
- How can different organizational departments improve business values?
Introduce a Strong Business Foundation
Conduct thorough research on the resources you need to nurture the ethics and compliance of your firm. Here are some of the critical elements you must pay attention to:
- Written standards of work ethics
- Training programs
- Enterprise resources that prioritize ethics and compliance
- Frameworks to reduce potential violations
- Performance evaluation
- Discipline to reduce violations
Cultivate a Culture of Integrity
Ethics & Compliance Initiative shares a few tips to promote a culture of integrity:
- Converse about the significance of ethics.
- Talk to your employees about the ethics central to your enterprise.
- Fulfill the promises made to your workforce and stakeholders.
- Acknowledge and appreciate employees’ efforts.
- Promote a culture of accountability.
- Conduct ethics and compliance training programs.
Focus on Values to Empower Ethical Conduct
Ensure incorporation of corporate values to encourage a sense of involvement among different organizational departments, such as:
- HR policies and frameworks
- Reward systems
- Hiring and retention
- Performance monitoring and management
- Promotion decisions
Revise Business Plans When Necessary
Revisiting the ethical conduct framework gives you a better understanding of your business values. Revise your ethical framework to meet the changing needs of your business.
Click on the link to read the original article: https://www.ethics.org/resources/free-toolkit/reducing-risk/