Every business’s responsibility is to foster an ethical work environment for all its employees. It should be inclusive of all individuals, with its primary focus on the core values of integrity, respect, and accountability. It empowers the workforce, helps boost productivity, and earns the company their employees’ dedication and loyalty. By imposing strong workplace ethics, businesses can easily prevent discrimination and other unethical and criminal activities at their roots. It helps employees thrive in a comfortable environment where they have job security, and their voices are heard. It removes any misconceptions between them and management and ensures a transparent line of communication. Below we will provide some examples of the importance of maintaining workplace ethics and its impact on productivity.
It helps reduce turnover
Employee turnover is usually due to employees accepting positions with different organizations, either because they receive better offers or are discontented with their current company and wish to be a part of better work culture. Employees are the company’s most valuable resources, and if there is a drop in quality employees, productivity will soon follow. Creating a secure work environment means providing benefits like free coffee or a recreational pool table but investing time and money to ensure that everybody feels comfortable while doing their work. Job security is important; it is imperative to create an environment where employees feel safe without being harassed or disturbed. If they have any qualms about the work they are being asked to do or the company’s lack of policies, they will eventually leave it, no matter how much they are being paid. It negatively reflects the company and can hurt its brand image. They could lose out on potential business deals and prospective employees unless they address their concerns.
Establish a strong HR department
Employees don’t have to deal with trivial issues and efficiently accomplish assignments by ensuring a zero-tolerance policy and an active HR Department. Assigning an HR Head that enforces its policies is a major step in helping productivity, and they often hold seminars and events to help create awareness against workplace harassment. Having your HR as a symbolic office rather than an actual enforcing authority is all kinds of wrong and will send the wrong message to your workforce.
It can lead to lawsuits and other legal issues
Companies that do not enforce their policies and have an unsafe work environment are usually subject to lawsuits and other legal issues. Employees who were harassed discriminated against, and ignored complaints by management may seek legal counsel, take them to a court of law, and demand restitution for their pain and inconvenience. Companies would then have to hire legal firms and/or in-house lawyers to defend them from it, which would be an embarrassment. Keep the drama to a minimum; the best workplaces are quiet ones with professionals.
Theft and fraud
They could be leaving themselves exposed to fraud and theft, as employees might take advantage of the company’s lack of ethics and steal physical items and even confidential information. Their attempts to steal business assets and secrets could be catastrophic for the company. Even trivial theft of office supplies is detrimental, as it sets a precedent for other criminal activities. Have HR speak to the employees about the adverse effects on the company’s welfare and impose strict fines and penalties for people who don’t follow the guidelines. It sounds harsh, but the fact is that the office is a professional environment where such behavior cannot be tolerated.
Workplace ethics must be followed and enforced for the welfare of the company as a whole. It affects client relationships, revenue, and the future of your business. Your work culture defines your company, and the structure of how it works reflects how far your business can go. A workplace that fosters employee growth and comfortability is the best investment an entrepreneur can ever make and is directly related to productivity.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.