For businesses around the world, maintaining a constant focus on ethical performance is vital for success.
A recent survey of CGMAs around the world found that business leaders are increasingly recognising the need for ethical performance, and its impact on the bottom line.
However, the way in which these practices are embedded and implemented is critical to the organisations’ ability to gain the most from an ethical culture. Organisations are struggling to move from tick box compliance to truly embedding an ethical culture across the organisation. There is a clear deficit in three areas:
• Communication deficit. While most organisations have codes of ethics or conduct, over a third do not regularly communicate this to staff.
• Leadership deficit. There is a need for more senior managers to step up as a force behind embedding an ethical culture.
• Training deficit. Two in five respondents told us their organisations have not yet created channels, such as training, to raise ethical standards.
Find out how CGMAs can help embed an ethical performance culture.