Low-Cost Compliance

With compliance still high on the regulatory agenda of many firms, how can corporate leaders ensure employees continue to practice the documented business ethics?

  1. Walk the ethics walk  – by example – and keep walking it.
  2. Practically demonstrate higher standards than expected of employees
  3. Establish a zero-tolerance environment for dishonesty
  4. Encourage employees to ask questions
  5. Do only what you would accept from the general workforce.
  6. Write ethical conduct into role profiles and evaluate and reward honest conduct, annually
  7. Implement an unbiased and genuine whistleblowing policy and helpline
  8. Review and act upon exit interview notes of departing employees
  9. Examine online employer review sites to find out what employees are too scared to tell their managers
  10. Be transparent.  A transparent organisation is a compliant organisation

None of the above tips cost as much as having to pay regulatory, legal or associated costs for a compliance policy that is documented, but practised on ink and paper only.

Compliance does not have to cost much more than decisive visible leadership action.


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