Strengthen ethical leadership (61%).
The report offered the following recommendations to help firm leaders improve
Be Deliberate and Intentional About
Culture to Drive Opportunities.
It is important for organizations to move
beyond an essentially defensive mindset.
Organizations need to become more deliberate, intentional, and strategic in how they
Ensure You Get the Resources You
Need and Make Them Visible.
It is vitally important that ethics and
compliance programs have the oversight,
autonomy, and resources to meet challenges. Make sure to maintain an ongoing
record of your ethics and compliance budget
and expenses in order to demonstrate the
appropriateness of your resources.
Align Ethics and Compliance
With Corporate Goals.
Growth, cost-cutting, and innovation could
drive misconduct. Ethics and compliance
leaders must design their program goals to
support the company’s strategic imperatives.
Rework Ethics and
It is vital to measure outcomes, not mere
activities. A principles-based approach
to developing and applying metrics can
help to ensure that the data derived from
assessments is relevant and significant in
analyzing a program’s effectiveness.
Spot Dangerous Undercurrents.
Rather than investing in more controls,
ethics and compliance leaders are better
off developing training that teaches the
importance of ethical decision-making and
raises risk awareness of unintentional but
Rapidly changing technology and globalization is making it harder for firms to maintain
and expand their client base. It’s no longer
just good enough to provide high-quality
services. Clients are also demanding that
companies provide services while operating in a transparent and ethical manner.
A survey of ethics and compliance program
leadership, conducted by LRN Corp., highlights how firms can boost the effectiveness
of their ethics and compliance strategies.
Survey participants listed the following
as the top five ethics and compliance
program goals for their companies:
Meet all regulatory requirements
for effective ethics and compliance
programs and best practices (76%);
Promote alignment between core values
and day-to-day operations (66%);
Increase employee comfort with
speaking up (66%);
Strengthen the ethical culture
Ethical Culture Grows as Business Priority, Survey Says