Imagine yourself in the following scenarios –
Each of these highlights an everyday situation in where a dishonest action may occur.
If you choose not to own up, you’re risking being seen as less than scrupulous. You are also, inadvertently, showing your team, how you set your moral compass where you tolerate small wrongs – leading by example of what you consider as acceptable behaviour.
These little instances of dishonesty can carelessly instil a company culture that is more prone to fraud.
Often, in the relentless pursuit of profits, businesses can lose sight of how crucial, a positive company culture and, a strong moral compass, are to staff morale, team cohesion and company growth.
As much as larger, ethical dilemmas are central to shaping your employees’ moral codes, making the wrong call in smaller, day-to-day decisions can mean that morals are undermined and vision and mission statements are not lived and breathed. This, in turn can develop an environment at greater risk of fraud.
The World Economic Forum explains, ‘ethical judgement is learned and cultivated over the course of a career. It begins with an understanding of one’s personal values[i].’
There are well-proven tell-tales when a moral compass may be sending your team off course.
Decreasing the risk of fraud in the workplace is not just about having the right checks and balances in place but also creating a company culture with a strong moral compass.
Each member of a team – from the front line, right through to the ultimate leader – needs to feel sure-footed in always doing the right thing.
Tenet’s founder, Arun Chauhan, has been highly commended in the Sole Practitioner of the Year category in the Law Society’s 2019 Excellence Awards, which is one of the highest accolades for law firms in England and Wales
We’re delighted that Arun Chauhan, founder of Tenet Compliance and Litigation, has been shortlisted in the Business Desk’s 2019 West Midlands Leadership Awards for both Professional Services Leader and Emerging Entrepreneur Leader.