Jaarlijkse benchmark: dit kunnen we dus nog verbeteren!

Recently, LRN published its annual benchmark study among over 1,400 Ethics & Compliance Professionals (31% from Europe, 35% from the USA, 21% from Asia). Many things are already going well in many organizations. There are also many areas for improvement. Hopefully, the summary below will help you choose a few and incorporate them into your program in the coming or next year. It will come as no surprise that risk management is the main reason for improving an E&C program.

What is already (fairly) good:

77% of organizations base their E&C program on core values (now the rest need to follow);
Over 60% evaluate employees not only on what they achieve but ALSO on how they behave: role modeling and ethical conduct play an important role in promotions and bonuses (CLICK HERE for my 2016 blog where I already advocated such an evaluation; Americans also call this: ‘put your money where your mouth is’); such consistency increases the credibility of your program!
Relatedly, 61% have now ensured that already paid bonuses and awarded stock options can be clawed back in case of code of business conduct violations;
Increasingly, in addition to e-learnings, classroom dialogues are being conducted to enhance the effectiveness of the core messages.

Areas for improvement:

Middle management uses core values much less (in 39% of cases) than top management to make difficult decisions; TIP: support them in this;
Middle management applies the same requirements and standards to all employees in only 53% of cases (they protect their ‘top performers’); this ‘unfairness’ undermines the credibility of your program;
Only 39% of programs are user-friendly and focused on the employees themselves; this can be improved (‘design your communication from the receiver’s perspective instead of the sender’s’);
Ensure that your management is also trained and takes responsibility for the entire program; this includes risk analyses, program structure, information on reports and follow-up, cultural measurements, improvement proposals, benchmarks, etc.;
Use root cause analyses, culture surveys, trends and patterns, data analyses, and benchmarks to improve your risk analyses and focus on the main points of attention; (only one in three regularly measures the ethical culture);
Nearly 70% of all organizations faced new or unexpected compliance challenges in the past year;
Only half of all organizations have appointed ethics ambassadors; CLICK HERE to understand their role; only 42% have regional ethics committees;
Topics that will receive more emphasis in e-learning in the next 1 to 2 years are IT security, data protection, ESG, human rights, as well as export control and sanctions;
Ensure that your program now takes into account remote and hybrid working.

Want to know more or receive my 20-step improvement plan? Feel free to call (it’s always free of charge) or send an email. Source of this study: CLICK HERE.

Jaarlijkse benchmark: dit kunnen we dus nog verbeteren!

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