Companies across the tech, automotive, financial services and airline industries have suffered recently from cracks in their reputations and ethics. This has prompted many forward-thinking decision makers to take a closer look at their own ethics and compliance policies. In doing so, wise leaders recognize that compliance programs need to go beyond rules by fostering specific ethical behaviors.
Our Program Effectiveness Index (PEI) Report underscores this reality – and also suggests that too few companies take this “values-based” approach to compliance. In surveying over 550 ethics, compliance and legal executives around the world, we found that only 14% said that their ethics and compliance programs are increasingly focused on values and less on rules.
Stringent rules do not necessarily translate into less misconduct and more ethical behavior, and compliance programs are too often opaque and convoluted. When rules and regulations fail to articulate the ethical purpose of the program, they fail to change employee behavior for the better. Successful rules, on the other hand, serve as a road map for specific ethics, behaviors and effective decision-making.
Learn more here.
Download the PEI Report.