Some companies have posted strategies for becoming a better ethical company. Getty Images In recent years, the importance of ethics in business has constantly increased as society learns more about its impact on communities, customers and employees. As a result, many companies have sought ways to improve their overall ethics in order to stay on top and improve the business world as a whole. The purpose of the institute of business ethics’ mobile application “say no toolkit” is to: “help employees identify and resolve ethical issues in their work environment by providing instant access to easy-to-understand scenarios and decision aids on a variety of topics”. These issues include physical, social and environmental ethics.
Due to the fact that many businesses haven’t been following the correct practices of business ethics in the past several years, it is important for companies to find ways in which they can improve their overall ethics. One of these ways is to implement a company wide culture of integrity, honesty and fairness which includes having all employees read and sign an integrity agreement or code. This strategy helps employees understand what is expected from them when it comes to their behavior, conduct and how they treat customers as well as fellow co-workers. You should be very familiar with most common ethical topics; however there are some topics that you may not be so aware of or ready for when it comes to your company’s growth.
1. Treat Work a Vocation
In order to maintain work as a vocation, one should have a passion for their work and believe that the work itself is beneficial for the greater good, rather than just for personal gain. When the company does this it will set an example for others to do so as well. This strategy helps build trust between colleagues and employers.
2. Be Open and Transparent
Openness also helps create trust within your company or social group by being transparent with each other. Being open about issues that occur within your workplace, products you are selling or other factors is important in establishing trust among employees and consumers. This includes setting up a transparent structure within the company by sharing information with employees, encouraging open dialog and providing opportunities for all to contribute ideas.
3. Admit Wrongdoing and Demonstrate Accountability
Be very honest in admitting your company’s wrongdoings that may have negatively affected your customers or the environment surrounding your workplace or product. Companies should take responsibility for those actions, apologize to customers and take action in order to prevent future occurrences of such negativity. Showing accountability can help restore trust in your brand and better communicate how you are taking action against issues that occur within the company or society as a whole.
4. Be Honest
Be honest and upfront with all employees, taking time to teach them about the importance of ethics in business. These classes and seminars help employees understand what is expected from them when it comes to their behavior, conduct and how they treat customers as well as fellow co-workers. Teaching employees about business ethics from a young age will help build a culture where it is acceptable to behave ethically in the workplace.
5. Pay for Accomplishments
This involves paying your employees based on how much value they provide to the company, which is usually done through a combination of a salary and commission or bonus. This can help encourage workers to work harder to get more business, allowing them to become more productive and grow their career within the company. This strategy should be used when you have a situation that involves performance or skills evaluation.
6. Reward Employees rather than Punish Them
Women are often subjected by employers when it comes to being punished whether it is in the form of poor performance reviews or poor penalties for violating company policies. Employers should consider other ways in which they can reward employees for good performance, such as giving them raises, bonuses and other rewards instead of punishing them through negative feedback or demotions. This can also help improve employee morale within a company.7. Show Gratitude to Employees
Lastly, it is also very important to show gratitude to employees by thanking them for their hard work and letting them know that you appreciate their efforts. This can help create a more ethical company culture that encourages people to trust each other, work together as a team and improve their overall performance at the workplace.
In many cases it may be easier for businesses to aim for profits rather than practicing ethical standards of business ethics. However, by implementing strategies such as those above into your company’s culture will build trust in your brand, improve your employee morale and show that you are making an effort towards building a better business community.