Why try to instill trust?
Converge19 had the pleasure of having speakers Jacki Cheslow from Avis Budget Group and Terry Stringer from HP tackle the challenge of instilling trust in a decentralized culture. They gave us insight into the benefits of instilling trust, and how to disperse it throughout an organization.
First, let’s answer the question “Why try to instill trust?”
Instilling trust has an immediate twofold impact on your organization by enabling communication and enhancing employee engagement. As an example, helpline reporting within a trustworthy organization would see higher numbers of direct reports. That trust in the helpline, the process, and the perception of organizational justice means more people are willing to speak out without fear of retaliation. That perception translates into a culture of trust.
Instilling trust boils down to a key take away from Converge19 – Culture Matters.
ECI: State of Ethics & Compliance in the Workplace - comparing employees in strong cultures against employees in weak cultures. They found that employees in weak cultures are:
- Three times more likely to say they experienced pressure to compromise standards.
- Three times more likely to say they observed misconduct
- 41% less likely to report observed misconduct
- 27% more likely to say they experienced retaliation after reporting misconduct
Centralizing the Decentralized
To centralize a fragmented culture, Terry Stinger of HP presented a very practical solution; a Compliance Leader Network. The framework involves linking the compliance team with local risk owners, management and employees.
The framework has 5 benefits:
- It expands the communication and feedback channels through daily interaction with a local business.
- Increases transparency into the compliance program and processes.
- Allows you to scale compliance initiatives throughout the organization without significantly increasing resources
- Provides local expertise and information on compliance, risk areas, operation, and other functions.
- Employees are more likely to speak to someone they are familiar with and report concerns or provide feedback
While push back might occur for adding responsibility to individuals and concern about taking time from full-time responsibilities, those worries can be alleviated by well-defined Compliance Leader positions and continuous support from the Compliance Team.
Current Convercent customers are doing this in real-time. Sending highly targeted campaigns to select employee populations through Convercent’s Ethics and Compliance Portal taking Terry’s framework from practice to the real world.
For more takeaways from our Converge19 conference download the Top 10 Ethics and Compliance Trends eBook.