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To ensure high degree of transparency and zero tolerance for transgression, organisations need to act at speed.
In brief
- Training people on the implementation of processes and procedures is imperative to embed ethical standards.
- Values need to be shared across every level and function of the organisation for a high integrity culture to thrive.
- Organisations can use their own data to drive the integrity agenda and create long-term value for the business.
The majority of Irish organisations set out to conduct their business with integrity. Indeed, most senior leaders believe their organisations adhere to the highest ethical standards. It is only when they measure those aspirations and beliefs against independent benchmarks that potential weaknesses and shortcomings are exposed.
The EY Global Integrity Report revealed that many organisations find there are gaps between what they say is important and how they actually behave. This “say-do” gap can have serious implications in critically important areas like employee engagement and customers’ perceptions of the organisation.
Bridging that gap can present challenges for even the most well-resourced organisations. Integrity is not simply a question of laying down rules and protocols, it must pervade the culture of the organisation.
Organisations that are successful in building a culture of integrity take more than a ‘tick box approach’ to compliance. Senior people lead by example, engage with their teams, and follow issues through.
For a high integrity culture to thrive, values must be shared across every level and function within the organisation. Those values must include a commitment to a high degree of transparency and zero tolerance for transgression.
The following four actions can help organisations to accelerate their integrity agenda:
Implementing these actions can not only help to embed a culture of integrity in organisations but can also add to the bottom line. Organisations which leverage data analytics and technologies such as AI to monitor integrity performance and gain insights into anomalous events and behaviours can move beyond compliance to creating long-term value for the business.
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Summary
High ethical standards don’t come into being by accident, they exist because organisations and their leadership are committed to them, and a culture of integrity is nurtured and sustained across all levels. In a world where public expectations of corporate behaviour are reaching new heights, boards and management must focus on ensuring that high ethical standards are maintained throughout the organisation and utilise data to achieve that objective.
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