Ethics are essential for long-term career success!
The recent media coverage on bank scams and frauds has put the entire business and banking sector under a magnifying lens. We have all heard of Satyam, the Fodder scam, and the telecom scams that got citizens questioning known corporate and political leaders. Sometimes, it seems easy to take a short-cut but the smallest mistake can lead to a massive fall from grace and affect your professional reputation. Here is how you can ensure you protect yourself from being part of a major scam:
- Professional code of ethics: A professional code of ethics sets a standard for which each member of the company can be expected to meet. Every organization needs to set in place a code of ethics and you should check on this when signing a contract with your employer. A company with high character is worthy of trust and respect, acts honestly, and stands by its promises. If this is not in place, customers lose their interest and trust as the company is involved with a scam and following legal issues. As a result there is a fall in share purchasing which effects the stock market. There is a decline in the product purchasing and company adheres to cost cutting leading to unemployment of many workers. The rating and reputation of the company is at stake in the market. The company loses its credibility, and so will you.
- Personal code of ethics: Character drives what we do when no one is looking. We can build our character through the way we live – by thinking good thoughts and performing good acts. A person with character has high morals and will act morally in all situations by choice, not force. A person with character will honor his or her commitments.
To retain a positive reputation and image, businesses must be committed to operating on an ethical foundation. If an employee does his work with integrity and honesty, it will eventually benefit the company. For example, companies like Starbucks, Accenture, PepsiCo have been listed as the most ethical companies by ethisphere. This creates goodwill and builds trust with employees and customers. Ultimately, goodwill leads to increased financial value as well, allowing for a long-term and sustainable approach to wealth creation!
Link to the published article: http://bit.ly/2EWiR8F