Strategies, Structures and Systems for embedding Ethics in Organisations
Once you have undertaken an Ethics Risk Assessment, there are 8 clear steps for embedding ethics in the corporate culture:
- Board review of ethics strategy
- Review or setting up of an ethical work culture framework
- Review or creation of the Code of Ethics
- Communications Plan
- Review and alignment of Policies and Procedures
- Reporting Unethical Conduct
- Training Plan
- Data Collection and Analysis
An Ethical Work Culture Framework consists of:
Questionsfor Boards to ask themselves:
- Do you currently have an established Code of Ethics?
- How up to date is it?
- Are your employees familiar with it Do they apply it? How would you know?
- Do you offer Ethics Training, and if so, is it an on-going process and not just a one off?
- Do you currently have an external reporting mechanism for whistle-blowing and does it include case management tools?
- Do you enforce your Code of Ethics and take action on infractions? Do you monitor, analyse and report on successes and failures.
- In developing an Ethical Culture, Boards need to decide on their strategy. Where is your Organisation?
“Culture exists regardless. If left to its own devices, it shapes itself, with the inherent risk that behaviours will not be those desired….The board sets the tone from the top of the organisation, and must carry ultimate responsibility for its values, culture and business practices.” Salz Report 2013 after the Libor Scandal
If you need more information, please contact the MIoD on 4681015