Accountability for Businesses

May 5, 2012 at 8:08 pm Leave a comment

As professionals, we encounter situations where we may be asked to do something by a coworker or employer that we do not feel is correct.   Have you ever encountered a sticky ethical situation?   Do you feel the business world is responsive to ethical concerns?  Or do you feel they just give it lip service?

When it comes to ethics, I feel companies should create a culture of accountability. Besides the obvious legal repercussions, a lack of accountability threatens the survival of most businesses.   There are ramifications other than lawsuits.  Low employee morale.  Damaged reputations. Internal conflict due to distrust and suspicion.

These issues can lead to large numbers of employees leaving.   Next thing you know, your business is spending a lot of money replacing those knowledge workers (recruitment, training, etc).   Also, these issues can lead to high client turnover. Then, your business is stuck with the higher costs of replacing clients while trying to increase its market share (sales efforts, marketing, etc).

Does your business have any ethical problems?  Does addressing the issue in monetary terms change how you see it?

In the upcoming weeks, I will begin by addressing aspects of the issue of ethics in the pension industry.

I look forward to sharing my thoughts in my next post.  Have a wonderful day!

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Entry filed under: Ethics. Tags: , , , , , , , , , , .

Accountability for Professionals Pension Plan Fees

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

@ChristineGurney

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