In the last 15 years, the GRC industry has been slow to adapt to technology and the changes in the market. Forrester predicts that in the next five years, unprecedented changes in business and technology will demand much more sophisticated, strategic and proactive GRC capabilities. In addition, businesses must figure out how to align ethics and values with the heart of their GRC programs and organizations.
We’re seeing customers, partners, employees, citizens and others continue to advocate for businesses to model “good” behavior. Organizations need to figure out how to define what “good” behavior is and build a culture that understands what it means.
Yet, for far too long, our industry has simply checked the box and relied on regulation to tell them how to behave, which programs to build, and how to stay out of trouble. Regulation, unfortunately, is not keeping up with our current ethical shift and new marketplace demands, and companies that continue to focus on regulatory compliance will be left behind. To keep pace with rapid market changes and digital disruption, ethics and compliance officers need to stop thinking about compliance only.
When we think about ethics and compliance, a different approach is called for—one that can help companies mature their ethics programs and start changing the conversation from the employee to the board level. Creating an ethics- and values-based organization starts at the top.
Today’s leaders need to use philosophical and ethical skills to guide difficult decisions. They also must be proactive and become a part of the modern ethical transformation that is happening right now.
As we continue to revolutionize the way CCOs create, build, deliver, manage and report across the organization and to stakeholders, our goal is to help companies through this ethical transformation. We are a true partner that empowers the CCO to be a strategic adviser to the business, providing them a holistic view of the enterprise, broad data, and rich analytics capabilities. With the right program insight, CCOs can be immediately responsive to changes in the company and the market—and can take the lead in building an ethics- and values-based culture.