{"id":3300,"date":"2021-06-02T01:34:05","date_gmt":"2021-06-01T13:34:05","guid":{"rendered":"https:\/\/staging.reportitnow-global.com\/nz\/how-to-create-a-more-ethical-business\/"},"modified":"2022-03-30T16:38:15","modified_gmt":"2022-03-30T03:38:15","slug":"how-to-create-a-more-ethical-business","status":"publish","type":"post","link":"https:\/\/reportitnow-global.com\/nz\/how-to-create-a-more-ethical-business\/","title":{"rendered":"How to create a more ethical business"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">The \u2018why\u2019, \u2018how\u2019 and \u2018who\u2019 of preventing dishonesty and unethical conduct in the workplace.<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s encouraging to see more and more companies committing to speak up initiatives and embracing changes for the better around ethical business and honesty.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sure, there\u2019s no shortage of corporate ethical scandals to fill the headlines. But behind all the drama, more and more companies are committing to the unglamorous and often unrecognised work of building companies free from fraud, harassment and bullying.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a recent <a href=\"https:\/\/www.navexglobal.com\/en-us\/resource-center\/resource_type\/benchmark-report\">benchmarking report<\/a>, the APAC region has seen a steady increase in the number of whistleblowing reports over the last few years, suggesting an increased recognition of speak up initiatives and deployments of hotline programmes downunder.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ethical concerns are being taken seriously by regulators. The Banking Ombudsman has launched a new <a href=\"https:\/\/reportitnow-global.com\/2021\/04\/13\/the-banking-ombudsman-whistleblower-service-a-masterstroke\/\">whistleblower service for bank staff<\/a>. New Zealand\u2019s <a href=\"https:\/\/reportitnow-global.com\/2020\/07\/17\/ready-for-nzs-new-privacy-act\/\">Privacy Act<\/a> was significantly updated in 2020. NZX has codified ethical requirements for companies listing and the FMA has renewed its ethical initiatives in the last few years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These days, everyone &#8211; from new employees to new investors, end-consumers to the chairman of the board &#8211; feel invested in the ethics of the companies they engage with.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Is an ethical business more profitable?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Studies show that businesses with an internal fraud reporting hotline reduce internal theft and fraud by up to 50%. Other research seems to indicate that, in general, ethical companies can make <a href=\"https:\/\/i-sight.com\/resources\/are-ethical-companies-really-more-profitable\/\">similar or higher profits than their peers<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The \u201cdeterrence effect\u201d created by the presence of an independent reporting system also has other <a href=\"https:\/\/reportitnow-global.com\/2019\/12\/17\/are-ethical-companies-more-profitable\/\">considerable benefits<\/a>, including improved financial stability, compliance with NZX rules and less chance of an unprofitable scandal.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ethical companies can be more profitable for a number of reasons:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Better employee productivity<\/li><li>Lower likelihood of leaving a company<\/li><li>More positive consumer associations<\/li><li>Ethical companies attract more talented executives and employees&nbsp;<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">So everyone\u2019s got a stake in the ethical quality of a business. How are ethical companies created?&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ethical business leaders make the difference<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Creating an ethical environment is an ambitious undertaking. It requires buy-in from every employee within the business and strong leadership from above.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cEthical business leaders encourage people to make their own decisions, taking into account organisational values,\u201d says the <a href=\"https:\/\/www.ibe.org.uk\/resource\/ibe-report-setting-the-tone-a-new-zealand-perspective-on-ethical-business-leadership.html\">New Zealand-focused ethics report<\/a> from the IBE.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Creative problem solving, reasoning and discretionary judgement based on ethical values needs to replace blind obedience, says the IBE.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis gives employees the confidence to deal with situations that are not specifically covered in the \u2018rulebook\u2019 and supports the belief that \u2018doing the right thing\u2019 is the right thing to do.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cSpeaking up is seen positively and encouraged. It enables early intervention and prevention, thus helping to keep a company\u2019s reputation intact.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Get it in writing<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Written policies set out unequivocal expectations around ethics. Don\u2019t have one? Now\u2019s the time to get writing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A code of ethics is your opportunity to spell out exactly what employees\u2019 responsibilities are. Define exactly what is meant by honesty, fairness, transparency and respect.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The purpose of the document is to <em>enhance<\/em> an individual\u2019s ability to make autonomous decisions, not to threaten employees. Neither can an ethics code cover every eventuality, so work with an ethical consultant such as Report It Now\u00ae for best results.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ethical training for ethical business<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Responsibility falls to senior business leaders here. Because leaders often require guidance <em>themselves<\/em> to know how to implement an ethics project, <a href=\"https:\/\/reportitnow-global.com\/\">third party ethics training<\/a> is essential.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Independent third party providers help establish avenues for correcting bad behaviour and provide systems and processes that support good behaviour.&nbsp;Ethical training provider Report It Now\u00ae can support you in this. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"770\" height=\"365\" src=\"https:\/\/reportitnow-global.com\/wp-content\/uploads\/2021\/06\/ethcial-business-3.jpg\" alt=\"\" class=\"wp-image-2455\" srcset=\"https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethcial-business-3.jpg 770w, https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethcial-business-3-300x142.jpg 300w, https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethcial-business-3-768x364.jpg 768w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Ethical technology<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Employers must communicate clearly, be honest and committed to fairness. It also means they must implement systems that allow employees to report problematic behaviour without fear of repercussion.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is where external, confidential and independent speak up line is important. Third party-managed enterprise case management software such as EthicsPro\u00ae is a good place to start. EthicsPro\u00ae lets users manage their ethical reporting responsibilities efficiently, and in an automated, intuitive, best-practice way.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whatever the ethical challenge ahead, Report It Now\u00ae is an objective and impartial third party that can offer a balanced ethical solution. <a href=\"https:\/\/www.reportitnow.co.nz\/contact-us\/\">Contact us<\/a> for more information.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The \u2018why\u2019, \u2018how\u2019 and \u2018who\u2019 of preventing dishonesty and unethical conduct in the workplace. It\u2019s encouraging to see more and more companies committing to speak up initiatives and embracing changes for the better around ethical business and honesty.&nbsp; Sure, there\u2019s no shortage of corporate ethical scandals to fill the headlines. But behind all the drama, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1,15],"tags":[44],"class_list":["post-3300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethics","category-uncategorised","category-workplace","tag-ethical-business"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"featured_image_urls_v2":{"full":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1.jpeg",2023,1481,false],"thumbnail":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1-150x150.jpeg",150,150,true],"medium":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1-300x220.jpeg",300,220,true],"medium_large":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1-768x562.jpeg",768,562,true],"large":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1-1024x750.jpeg",1024,750,true],"1536x1536":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1-1536x1124.jpeg",1536,1124,true],"2048x2048":["https:\/\/reportitnow-global.com\/nz\/wp-content\/uploads\/sites\/2\/2021\/06\/ethical-business-1.jpeg",2023,1481,false]},"post_excerpt_stackable_v2":"<p>The \u2018why\u2019, \u2018how\u2019 and \u2018who\u2019 of preventing dishonesty and unethical conduct in the workplace. It\u2019s encouraging to see more and more companies committing to speak up initiatives and embracing changes for the better around ethical business and honesty.&nbsp; Sure, there\u2019s no shortage of corporate ethical scandals to fill the headlines. But behind all the drama, more and more companies are committing to the unglamorous and often unrecognised work of building companies free from fraud, harassment and bullying.&nbsp;&nbsp; According to a recent benchmarking report, the APAC region has seen a steady increase in the number of whistleblowing reports over the last&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/reportitnow-global.com\/nz\/category\/ethics\/\" rel=\"category tag\">Ethics<\/a>, <a href=\"https:\/\/reportitnow-global.com\/nz\/category\/uncategorised\/\" rel=\"category tag\">Uncategorised<\/a>, <a href=\"https:\/\/reportitnow-global.com\/nz\/category\/workplace\/\" rel=\"category tag\">Workplace<\/a>","author_info_v2":{"name":"","url":"https:\/\/reportitnow-global.com\/nz\/author\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to create a more ethical business - Report it Now New Zealand<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reportitnow-global.com\/nz\/how-to-create-a-more-ethical-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to create a more ethical business - Report it Now New Zealand\" \/>\n<meta property=\"og:description\" content=\"The \u2018why\u2019, \u2018how\u2019 and \u2018who\u2019 of preventing dishonesty and unethical conduct in the workplace. 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