Ethics trickle down from the top
Providing clear guidelines – and living out those values from the top – can help minimise the conflicts of interests and ethical challenges your employees face, says Harvard Business Review.
You can’t anticipate every conflict of interest employees might encounter. But, you can increase the likeliness that employees act in the company’s best interest if you provide clear guidelines.
Try using the following tools:
1. The Mission. A well-crafted mission statement serves as a ‘true north’ for all employees to follow. Make sure all employees understand it.
2. The Values. What values should guide your employee’s behaviour toward customers, suppliers, fellow employees, communities, and shareholders? Being clear about this can help employees avoid putting the company’s reputation at risk.
3. Culture. A strong corporate culture clarifies what is not allowed. Emphasise the codes of conduct relating to conflicts of interest, confidential information, bribery, discrimination, and harassment.
*The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (http://www.hbr.org). Any opinions expressed are not endorsed by Reuters. Today’s management tip was adapted from ‘Managing Risks: A New Framework’ by Robert S. Kaplan and Anette Mikes. – Nampa-Reuters