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Compliance, Ethics and the Multi-generational Workforce
A strong workplace compliance and ethics program offers many benefits for any organization. Such a program defines expectations for employee conduct, creates a safer workplace, improves employee retention, addresses risk in order to protect the company, and ' perhaps most important ' establishes a culture of compliance.
But there is a world of difference between creating a compliance and ethics program and effectively implementing one so that employees actually engage with it and adhere to it. A scan of the business news headlines reveals no shortage of malfeasance that breaches regulatory and ethical standards. For example, violations of the U.S. Foreign Corrupt Practices Act (FCPA) create headlines based on the large sums companies pay in fines and disgorgements. FCPA violations alone accounted for $4.63 billion in settlement payments between 2007 and 2013 from enforcement actions by the U.S. Department of Justice (DOJ) and Securities Exchange Commission (SEC). See Koehler, Mike, A Foreign Corrupt Practices Act Narrative. Mich. State Int. Law Rev. 22.3 (2014): 961-1094. The FCPA is but one of the numerous laws and regulations that corporations are subject to and against which corporate infractions are reported on a seemingly weekly basis.
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