How An Ethics and Compliance Roundtable Can Help Align Your Policies

If you work in any corporate office, whether at the executive level or member of the staff, chances are high that you have been invited to a networking event or roundtable with like-minded peers. Typically, these events come with the messaging of “come to this event to network with your peers and learn industry trends.”

However, that messaging does not capture the actual value you will get from attending such an event, which can have such long-lasting effects on your personal career growth and company. In the past, companies and C-level executives did not typically discuss how they could improve their ethics program. It was always, “how can we make more money,” while relying on simple change management policies and an HR team or person, to work things out. Enter the year 2017 where we begin to see this shift in how companies are viewed, both internally and externally, based on how ethical they are.

The time for siloed ethical activity is gone, especially with social media and the public quick to lash out at unethical behavior. The Chief Product Officer for Convercent, Philip Winterburn, recently released a new blog on this very subject saying, “Government intervention was not the most visible or impactful reaction to the transgressions. Rather it was the prevalence of social media and the court of public opinion that took center stage.” You can find his blog here.

Roundtable events, especially in the ethics and compliance space, can help avoid these scandals by providing your staff and executives with the knowledge for creating the best and most up-to-date policies possible. Here are a few ways how

1. Networking

When you sit down with other executives and members of the ethics and compliance space, you hear what is working, what is not working, learn about new softwares coming out to help analyze data as well as compare that data with other companies (See Benchmarking). You also get to increase your inner circle of like-minded individuals as you discuss do’s and don’ts with equally ambitious and passionate people. Who knows? You might make a friend!

2. Un-siloed Industry

The ethics and compliance industry is fairly tight-lipped. To understand an industry where ethics is more important than compliance, you need to analyze data, and not just your own companies. Data across departments, across companies, and across the world will help you visualize what you could be doing better and keep you on track of the status quo. Nobody, especially a high-profile company, wants to be left behind.

3. Software Knowledge and Experience

Do you want to aggregate data and compare that across several different locations in your company? Perfect! Some of the best individuals in the industry work on software who can help you do just that. Technology isn’t going anywhere anytime soon, so it’s best to use it over your other policies, gather data, and make it easier for employees and staff to discuss these things and be more open. Take the knowledge from the experts and bring it back to your organization.

An article by Forbes from 2016 states, “marketing, especially at the executive level, is not a guessing game. Getting to the top is hard, but staying there is much harder. CMOs and other executives play well and learn from others, use data effectively, listen to their customers, and can tie everything back to the bottom line.” You can find the article here. Some of the top companies in the world stay at the top because their executives push the envelope of knowledge, regularly communicate with other execs, and are always pushing for a more effective and efficient organization.

These effects can easily trickle down to help your bottom line such as the companies on Ethisphere’s list of “2018 Worlds Most ethical Companies,” by raising employee engagement, improving stock prices, and happiness, and making you are more approachable company to future investors and staff. So, the next time you are able to attend a roundtable, do it. You might learn something or meet a future business partner!