What are the elements that should be included in a strong et

What are the elements that should be included in a strong ethics program?

Solution

Ethics training is aimed to instill stron corporate values namely rules and regulations in the heart and blood of the employees or its stakeholders. Hence, Ethics training cannot be limited only to teaching morality but needs to develop an extension wherre employees are guided/empowered to make the right decision. Every effective Ethics Program has elements of success which forms the basis or baseline. Emphasis on a selected component or cluster of components might vary, betting on the requirements of the organization and also the talents of program personnel; but, every of those components ought to contribute in each Program. The elements that should be included in an ethics program is mentioned below.

1. A veryHigh level of commitment by has to be there from the executive management which also includes its board of directors.
2. A strong and compelling statement of fundamental values.
3. Initial ethics orientation training program has to be followed by regular updates and communications.
4. There has to be both a formal and an informal ethics organizational structure.
5. Hotline and Helpline.
6. There has to be a program database to track all the actions and elements of the program.
7. Investigative capability to respond to allegations of wrongdoing.
8. Cross-functional panel review to assure consistent application of policies.
9. There has to be regular reporting on program status to board of directors.                                                        10. Periodic program audits by internal and external auditors.