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How To Build A Business Ethics Program
Recent corporate financial scandals have highlighted the importance of business ethics and legal compliance. Yet a recent National Association of Corporate Directors (NACD) survey of 280 corporate CEOs and directors found that “only one of three directors felt that they were highly effective in ensuring legal compliance”.
Ethics in Business
Most companies realize that they need to develop and implement a business ethics and compliance program.
Generational Ethics
‘Boomer’ Rick cannot understand why ‘Gen Xer’ Jim cannot seem to get to work on time. ‘Millennial’ Stacy can not seem to understand why ‘Traditionalist’ Fred has worked at this company for 40 years although, clearly, he is unhappy.
Statistics tell us that there are four generations in our workforce today. Much research focuses on the differences and how to best work with and manage the varying degrees of experience, viewpoints and work styles. I wonder how the mixing of these very different experiences contributes to the overall ethical culture in companies today.
To clarify, the generations we are talking about are described in the article “New-age challenge: Four generations now occupy the workplace” by James Amos, Pueblo Chieftain, The (CO) 3/7/10 consist of: 10% Traditionalists (born 1900-1945) 45% Boomers (born1946-1964) 30% Gen. X (born 1965-1980) 15% Millenials (born 1981-2000)
The problem is that when we hear the word ‘ethics’ we assume it means the same thing to everyone. However, there is some gray area here, particularly when it comes to four different generations. What is ethical behavior for a Millennial may be considered highly unethical to a Traditionalist, Boomer or even a Gen X’er. So who is right? Which generation is more ethical? The answer may surprise you!
Ethics Training Programs For Employees
Due to the Federal Sentencing Guidelines for Organizations of 1991, several companies comply with the requirements which requires that companies implement a code of conduct, have high level oversight, provide ethics training to their employees, establishing the company’s ethical cultures as well as make periodic assements of the effectiveness of the program. An amendment of the Act in 2004 prescribed much stricter guidelines as well as emphasising the need to create a legal as well as ethical culture for businesses.
Benefits of Ethics Training for Employees:
Ethics training for employee programs are part of all companies as they provide insights for liability protection as well as improve employee morale, their retention is also positively affected by these programs. Ethics are very important for a business as it helps to determine how your company is percieved by others. If your company has a reputation of being ethical and reputable employees as well as customers and collegues will feel proud to be associated with your business, not the same scenario if your ethics and reputation is bad.
