An inconsistency exists between compliance programme goals and the actions programmes take.
The business case for corporate culture and its effects on reputational risk management, regulatory violation and misconduct avoidance has become increasingly tangible over the recent years, and even months. This makes any indication of compliance programs either not making culture a top programme objective or not taking the necessary steps to reach that objective concerning.
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The survey, which investigates the top objectives, difficulties and strategies for ethics and compliance professionals across a variety of industries, collected the responses of a sample of 256 respondents from EMEA and APAC to identify top concerns and characteristics for compliance professionals. Below are three findings that surfaced during early review.Early findings from the NAVEX Global 2017 EMEA & APAC Culture & Compliance Programme Benchmark Report illuminate that concern by revealing that an inconsistency exists between compliance programme goals and the actions programmes take.
1. Culture continues to be a top priority for ethics and compliance programme objectives in 2017, with 85%of respondents citing that developing a culture of integrity, ethics and respect was their top priority.
2. However, only 32%of respondents reported that their organisations were taking necessary steps towards undertaking a culture or ethics assessment, alluding to the notion that it may be only ‘lip service’ being paid by firms to improving organisational culture.
There is more focus than ever before on companies protecting themselves from legal and reputational risk.
As the topic of ethical organisational behaviour and culture becomes increasingly prevalent, both across industries as well as in the media, firms are facing mounting pressure to develop their programmes to promote transparency, and ultimately create this culture of ethics and compliance that is increasingly becoming a competitive advantage. A spotlight has been shone on integrity, ethics and respect within corporations, with firms such as Volkswagen facing criticism over its emissions ratings, and Uber coming under fire for unethical behaviour among the workforce. There is more focus than ever before on companies protecting themselves from legal and reputational risk.
To assist firms with the creation of a corporate culture that inspires ethical behaviour, NAVEX Global’s report identifies the most common ethical and compliance findings, as reported by a variety of companies across different industries and sectors. In addition, the report offers guidelines as to how organisational culture strategies can be developed to benefit both employees and company performance.