Enlisting resources to accelerate corporate culture change One of the most challenging aspects of managing ethics and compliance is gaining the necessary support throughout the organization to adopt the values and model the business conduct the company seeks to ingrain in its culture. This paper reviews several strategies that ethics and compliance professionals can employ to enlist resources and form coalitions to reinforce their efforts. Ethics as a Business Process Forward-looking companies are seeking to evolve business from soft art to hard science as a means to win in the marketplace, improve competitive advantage, achieve higher market valuations, ensure employee retention, foster fruitful partnerships and strengthen customer satisfaction. Global companies, global integrity Companies operating in foreign countries find that understanding and complying with variant laws, managing employees far from headquarters, serving customers and relating to suppliers and partners in multiple jurisdictions can introduce significant challenges to developing shared corporate values and realizing a truly global culture. This paper reviews three key issues for multinationals: how to foster a culture of ethical conduct in all countries of operation; how to engage a global workforce in understanding and adopting its corporate values; and how to meet the web of complex legal and compliance obligations that may exist in all its locations. How to create an effective ethics and compliance certification process More than ever, organizations are focusing on nurturing corporate cultures that value ethical and responsible business conduct – recognizing the positive implications for relationships with employees and customers, corporate reputation and overall company performance. How to create an effective ethics and compliance measurement program The Federal Sentencing Guidelines offer substantial incentives for companies to develop and maintain effective ethics and compliance programs, but how can companies determine if their programs are “effective?” Companies can assess the effectiveness of their programs and establish and promote operational excellence by using performance measures to gauge and encourage improvement. How to create an effective ethics and compliance process An effective ethics and compliance process helps companies meet compliance regulations and offers distinct business advantages. Growing data demonstrates a link between ethical business cultures and corporate success, and indicates an ethical culture enhances business performance. To achieve these results, leading organizations build ethics and compliance into a cycle of oversight - define, prevent, detect, respond and evaluate - that promotes a culture of principled performance. How to effectively manage internal incidents Companies today have compelling incentives to conduct internal investigations and to self-report ethics, compliance and other violations. Regulations such as the Sarbanes-Oxley Act of 2002 and the Revised International Capital Framework (Basel II) mandate policies and processes to address such incidents. How to engage your workforce to foster a self-governing corporate culture Individual ethics and compliance initiatives are not enough to create the degree of change in a workforce that cultivates a self-governing corporate culture. Change requires a systemic approach that powerfully engages employees in ethical principles and permeates shared values throughout the entire organizational culture. How to use legal research as a proactive legal and compliance risk management tool The use of legal research as a proactive tool in an effective risk management program is new and growing. The timely use of legal research may result in better understanding and decision making and improve risk management effectiveness. The new face of an effective compliance and ethics program The Amended Organizational Sentencing Guidelines for Executive Management provides a broad perspective of the Guidelines along with points to consider in assessing the effectiveness of a company’s ethics and compliance program, corporate culture and business practices. |