5 Reasons Your Employees Should Understand Your ABC Policy

Share this post with others:

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
Share on print

The ABC’s of anything, usually refers to an acronym that makes it easy for you to remember how to do something.

In compliance, it’s different. Instead, it focuses on the Anti-Bribery and Corruption Policy that should exist in every organization.

Many companies have policies that have been designed by professionals within the industry, to ensure that their backs are covered. Yet, it’s quite often when we hear stories of companies going bankrupt due to compliance lawsuits.

Where do they fail?

They fail, in the area most relationships fail, communication.

Having a foolproof system in place is worthless unless it is properly communicated to and observed by the individuals who are involved in the day to day operations of the business.

How to Prevent This
What this means is that you must ensure your employees are not only aware, but also abide by the policies that you have put in place. You must communicate changes that are made to the policies.

Most importantly, you must have someone they can reach out to when they are unsure of what the policy says.

5 benefits of communicating the ABC Policy

Employees will have a clear understanding of the meaning of bribery and be aware of the transactions that could fall under such a category.
They will be able to pinpoint other forms of corruption or questionable behaviors.
Employees will be aware of the various laws and regulations the company is subjected to.
They will understand the legal consequences of their actions, subjected to the laws that govern their organization.
Employees will have a feeling of security, and support in dealing with such sensitive matters.

So as you go about implementing, updating and re-writing your policy; don’t forget to educate your employees about it.