Complying With Ethical Business Standards
Nozipho Mvulane
The base tenement of the employment relationship is that an employee will tender their services in exchange for compensation. The compensation is usually financial in nature. This transaction should be based on ethical, moral and legal foundation. It is important that employees understand and comply in upholding legislation and the relevant ethical standards in dealing with their colleagues, suppliers, vendors, customers and any other third parties.
Upholding ethical standards in the employment relationship
Business ethics are important in any business. A business that operates on ethical practices will surely have repeat customers and a stellar reputation. The manner in which employees conduct themselves plays an integral part in this. It is important that employees are aware of:
- how to behave and conduct themselves in their day-to-day activities;
- identifying, considering, understanding and appropriately responding to business ethics situations in the workplace;
- understand what the company’s ethical principle and standards are;
- how to distinguish between right and wrong and comply with what is right;
- their rights and responsibilities in the employment relationship;
- situations that could lead to participating in illegal and/or unethical conduct;
- finding assistance in avoiding potential legal contraventions and problems for the employee themselves and/or the company.
- complying with the company’s other policies and procedures; and
- conflicts of interest and how to manoeuvre them.
Code of Business Conduct and Ethics Policy
Bearing the above in mind, it is therefore important that these points (and others) are set out in clear, easy to read, simple to understand Code of Business Conduct and Ethics Policy. Employers and businesses need to ensure compliance with the relevant corporate governance laws and regulations. It is therefore imperative that businesses and employers have a Code of Business Conduct and Ethics Policy. These policies ensure that employees read, understand (and are trained – should be necessary) on this policy. A Code of Business Conduct and Ethics Policy will ensure that employees are aware of how they should carry themselves to fellow employees, suppliers, customers and any third parties in conducting their day-to-day duties.
For assistance with understanding and complying with the relevant labour legislation regarding business standards and ethics, as well as drafting and implementing a Code of Business Conduct and Ethics Policy, contact Rajaram Mvulane Attorneys at info@rajarammvulane.co.za
For assistance with any other related policies such as social media, disciplinary and sexual harassment (and others), please feel free to contact us on info@rajarammvulane.co.za
