Are you looking for a company with an ethical culture? That’s a very good idea because, according to China Gorman, CEO of the Great Place to Work Institute, “More than 50% of the largest corporate bankruptcies have happened due to unethical business practices.” Gorman went on to state that the cost of bankruptcies to owners and the economy were nearly 10% of the U.S gross domestic product in 2011, coming in at a whopping $1.228 trillion. That’s trillion, not billion. (See China Gorman’s blog post, “Good Ethics = Good Business”)
That’s a whopping trillion dollar reason why building a great place to work for your employees is the right thing to do. Great workplaces are ethical workplaces. Creating a positive work environment where people are motivated to show up in mind and body not only makes business sense, it’s an ethical business practice.
“There’s something wrong with your character if opportunity controls your loyalty.” -Unknown
We live in a society where the good and decent thing to do can be pushed aside in pursuit of money, power and fame. That’s why we need CEO’s with character to stand up and make a commitment to create positive work environments where ethical business practices will never be compromised. Below are 5 good reasons why building a great workplace is the ethical thing to do.
5 Ethical Reasons for Great Workplaces
#1 Good for Employees: People should be treated as you want to be treated; a foundation for the ethical treatment of employees. Positive work environments are built to meet the needs of their employees.
#2 Good for Customers: Great workplaces treat their employees as their number one priority. That means employees will treat customers as their number one priority. This sets-up a customer service environment where clients are treated with respect, dignity and ethically.
#3 Good for Quality: Problems with quality can result when employees are afraid to speak up for fear of reprimand. This scenario is disastrous when creating quality products. This absence of fear allows people to prevent poor work practices, accidents, defective products, or mistakes with tragic consequences.
#4 Good for Shareholders: Owners who take care of their people can expect positive financial results. It really is true: good ethics equals good financial results.
#5 Good for Community: Ethical companies who treat their people with respect see much higher levels of teamwork and camaraderie. This spirit spreads to the community as employees desire to give back and donate their time and resources to improve the lives around them.