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When running a business, you are responsible for the company’s accountability and transparency. When you’re at the helm, you’re not only responsible for yourself but for your employees too, and without proper oversight and ethics guidelines, you could all find yourself in hot water. That’s why when you’re setting up a business it’s important to implement corporate governance practices. We asked 7 industry experts about their best governance practices and this is what they said.

Remember the tale of the boy who cried wolf? How do you handle a situation where an employee keeps making the same whistleblower report over and over? Your investigation team does their due diligence with each report then closes each report with the conclusion that the reported concern is not substantiated, or there was no cause found. Yet the same employee keeps making the same report over and over.

Increase employee confidence with a speak up culture A speak-up culture is a workplace culture that values and encourages employees to express their fears, provide their their feedback, ask questions, raise concerns, and make suggestions without fear of retaliation or any other kind of harm resulting from speaking up.

Business ethics and corporate social responsibility in action Business ethics and corporate social responsibility have never been more important for attracting and retaining top-tier employees and a loyal customer following. Although these two terms are often confused as having similar meanings, they actually vary quite a bit. Here, we’ll explain the difference and why both are essential for any successful company today.

A positive remote work culture is made up of trust, recognition, communication, and flexibility Maintaining a positive work culture while working remotely is essential in making sure your employees feel understood and valued. There are many practices you can put in place to ensure that your employees thrive while working from home, whether that’s a balanced schedule or frequent check-ins with management. 

Compliance management solutions to help meet regulatory requirements Every industry has some form of compliance protocols that they need to follow to keep their business information safe while ensuring they meet industry standards. This could include legal, security, industry and other regulatory requirements. Lack of adhering to these rules can result in hefty fines and even jail time. That’s why organizations need to start implementing compliance management solutions that can help them meet their regulatory requirements.