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Seven benefits of having a company code of conduct

by , 30 November 2016
Seven benefits of having a company code of conductDid you know that having a code of conduct in place can help prevent fraud and theft in your company? That's because it ensures you and your employees do the right thing even when 'no one is looking'. Read on to discover the seven benefits of having a code of conduct in your company so you can implement one.

A code of conduct is the foundation for all your companies' policies and procedures. That's why your company needs one. It deals with the professional standards you expect in your business.

It can include a code of ethics that sets standards for conduct at board, management and employee level. It's your way of ensuring your employees are doing the right thing and a way for your clients to know you align yourself with good corporate governance.

In fact, 'these ethical principles and standards should guide how your employees behave, how you behave and how you do business with the outside world,' says The Labour Law for Managers Loose Leaf Service.

So make these principles part your business culture.

Seven things a code of conduct can do for your company

  1. It makes it clear what's acceptable and unacceptable conduct or practice in your company.
  2. It guides your business policy by providing a set of corporate ethical standards.
  3. It helps your company encourage ethical behaviour of the board, managers and employees at all levels.
  4. It makes ethical infringements easy to identify in your company.
  5. It'll help you resolve conflicts, such as conflicts of interest with your employees.
  6. It enhances the ethical reputation of the business.
  7. It specifies your business's social responsibility.

Remember to not simply set out the ethical principles and standards that'll guide your business. 'Get feedback from employees and even clients before you put your code together,' cautions the Loose Leaf.

Knowing the benefits of having a code of conduct in your company will ensure you implement one and enforce ethical behaviour at board, management and employee level.

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