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LRN's Latest Report Underscores Importance of Ethical Culture and Values-Based Leadership
Manage episode 415195037 series 3521257
LRN continues to set the standard for ethics and compliance program research. Volkov Law is a supporter of, and advocate for, LRN’s research because it has consistently confirmed what we all know and believe - ethical companies perform better in the marketplace over the long run. It is an intuitive fact that employees respond better to values-based leadership than a rules-based environment and culture. Volkov Law is committed to that mission with our clients, colleagues, partners, and thought leadership.
In this Episode Michael Volkov discusses LRN's latest PEI Report, a copy of which can be obtained at https://lrn.com/resources/ethics-compliance-program-effectiveness-report
- LRN's 2024 Program Effectiveness Report highlights the importance of corporate values, culture, and accountability in mitigating risks and maximizing financial performance.
- The report is based on a survey of over 1,400 ethics and compliance professionals from 19 countries and 26 industries.
- 60% of organizations now incorporate ethical behavior into performance management, hiring decisions, promotions, and bonuses to elevate ethical conduct incentives.
- Top priorities for 2024 include training content, measuring ethical culture, improving web-based compliance resources, internal controls, and audit and compliance monitoring plans.
- Companies are adapting compliance programs to include remote and hybrid employees post-COVID-19, reflecting changing workplace needs.
- Senior management engagement in risk mitigation controls and company values is crucial, with 52% of respondents confirming actions over words in fulfilling ethics and compliance responsibilities.
- Nearly two-thirds of respondents stated their boards actively address misconduct by senior executives or excellent performers, relying on values to ensure ethical behavior.
Resources
334 episodes
Manage episode 415195037 series 3521257
LRN continues to set the standard for ethics and compliance program research. Volkov Law is a supporter of, and advocate for, LRN’s research because it has consistently confirmed what we all know and believe - ethical companies perform better in the marketplace over the long run. It is an intuitive fact that employees respond better to values-based leadership than a rules-based environment and culture. Volkov Law is committed to that mission with our clients, colleagues, partners, and thought leadership.
In this Episode Michael Volkov discusses LRN's latest PEI Report, a copy of which can be obtained at https://lrn.com/resources/ethics-compliance-program-effectiveness-report
- LRN's 2024 Program Effectiveness Report highlights the importance of corporate values, culture, and accountability in mitigating risks and maximizing financial performance.
- The report is based on a survey of over 1,400 ethics and compliance professionals from 19 countries and 26 industries.
- 60% of organizations now incorporate ethical behavior into performance management, hiring decisions, promotions, and bonuses to elevate ethical conduct incentives.
- Top priorities for 2024 include training content, measuring ethical culture, improving web-based compliance resources, internal controls, and audit and compliance monitoring plans.
- Companies are adapting compliance programs to include remote and hybrid employees post-COVID-19, reflecting changing workplace needs.
- Senior management engagement in risk mitigation controls and company values is crucial, with 52% of respondents confirming actions over words in fulfilling ethics and compliance responsibilities.
- Nearly two-thirds of respondents stated their boards actively address misconduct by senior executives or excellent performers, relying on values to ensure ethical behavior.
Resources
334 episodes
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