“In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And, if they don’t have the first, the other two will kill you.” – Warren Buffett
Every organization, regardless of whether it is legally required to have one (as public businesses are), should have a code of business conduct. A code can serve as an internal guideline as well as an external expression of business principles and commitments.
What is a Code of Business Conduct?
A code of conduct is a collection of organizational rules or guidelines that define a company’s values, beliefs, and ethical standards, all of which must be adhered to by both the corporation and its employees. A great code should include a motivating statement regarding the reason for its existence and the company’s purpose.
What is the Objective of the Code?
A well-written code of conduct defines an organization’s goals, objectives, and beliefs, tying them to professional behavior requirements. The code expresses the principles that the business intends to instil in its leaders and workers and defines desirable conduct. As a result, written codes of conduct or ethics may be used to assess individual and organizational performance.
Importance of a Code of Business Conduct in the workplace include:
- Behaviour in the workplace
- Company’s Mission, Vision, Values, and Principles
- Roles and Responsibilities
- Communication Channels
So, what makes a great Business Code of Conduct?
Every code of conduct must reflect the character of the organization it represents. This is because it symbolizes the firm’s daily operations, core beliefs, and overall company culture. Because it must be adapted to each business individually, there is no universal code of conduct. However, there are several traits and memorandums all codes should have:
Written Specifically for the Readers: It’s easy to follow, and any technical or legal language is explained.
All-encompassing: It goes through all the key elements that may affect employees’ everyday life and answers frequently asked questions.
Leadership Backing: It enjoys the support of top management. This is generally demonstrated by providing a preface from the CEO or President.
Easily Accessible: All workers and investors have access to it.
When you’re creating a code, be sure and include employee expectations, guidelines, and general rules as well as legal ones. There should be no grey areas in your code, and it should reflect the ethical standards of your business.
One of the ways we make sure to put our company values into action is through the Syrainfotek LLC dba CloudQ Code of Business Conduct. It’s based on the recognition that everything we do at CloudQ will be assessed against the highest possible ethical business standards.
If you’re looking to create a Code for your own business, we hope these tips might have guided you in some way.