Wednesday, February 21, 2024
HomePerspectiveImportance of workplace ethics in a business

Importance of workplace ethics in a business

Not only do our actions have an impact on ourselves, but also on those around us. Many of our professional judgments are ethical. If we lie, we risk losing someone’s trust and jeopardizing our integrity. We can compromise the safety of others if we employ substandard products or quality on the job. Moral and ethical issues can be found at all levels of society. Ethical behaviour in the workplace is just as vital as it is in our personal lives. 

Ethics are essential in all aspects of a business. Employees, managers, executives, customers, suppliers, and even competitors all rely on the trust of others to run a successful firm.

Workplace ethics ensures a pleasant working environment

Workplace ethics results in happy and content employees who look forward to work rather than seeing it as a chore. Employees develop a sense of loyalty and devotion to the company as well. Individual performance is measured by organizations using foolproof systems. The appraisal system creates the employee’s performance for the year in mind and professional development. Reviewing one’s work regularly is critical. Superiors are required to be aware of their subordinates’ activities. One must determine who is on the correct course and who requires additional encouragement.

Workplace ethics guarantees that management provides excellent guidance and mentoring to its employees

Appraisals and wage increases should not be done solely for the sake of the name. Workplace ethics are crucial because it allows management to treat all employees equally and think about them from their point of view. Employees must have a say in how their performance is evaluated. Transparency is necessary. 

If an employee is not adequately acknowledged and compensated, they will leave within a year or so. When employees depart after being taught and move on, it is the organization’s loss. Employees switch jobs for two main reasons: career advancement and monetary benefits. Employees must feel safe in their jobs and careers, according to management. 

Extreme favouritism is unethical in the job. If the favouritism towards an employee is simply because they are a relation, the rest will become demotivated and begin looking for new chances. The productivity of an individual for a year should determine their raise.

Organizations must retain and nurture talent according to workplace ethics. When a corporation hires someone, they must train them and make them aware of its core responsibility areas, policies, regulations, and code of conduct. Employees must be well-inducted into the system. From the first day, they must be aware of the organization’s policies.

Workplace ethics also help to develop relationships between employees and, most significantly, their supervisors

According to research, organizations that are impartial to employees, listen sympathetically to their issues, and are employee friendly are less likely to have disgruntled employees and a high attrition rate.

Nestle’s Ethical Values and Business Ethics 

Nestle is a global leader in nutrition, health, and wellness. The corporation employs approximately 352,000 people and operates in practically every country in the world. People are more familiar with brands. The company’s portfolio includes market leaders such as Nestle, DRUMSTICK, NESCAFE, STOUFFER’S, KITKAT, Nestle GOOD START, Nestle PURE LIFE, and PURINA, to mention a few. Nestlé’s business procedures have been guided by integrity, honesty, fair dealings, and full compliance with all applicable laws since its inception. Since then, Nestlé employees worldwide have upheld and lived this dedication in their daily responsibilities, and Nestlé’s reputation has remained one of the company’s most valuable assets. Nestle’s Corporate Business Principles lay out a set of values and principles to which the company has remained committed worldwide.

Other MNCs’ Ethical Values and Business Ethics 

The Tata Group
has always aimed to be a value-driven business. These values still guide the Group’s growth and activities. Integrity, Understanding, Excellence, Unity, and Responsibility are the five key Tata values that guide our business practices.

SAIL’s (Steel Authority of India) mission is to be a respected world-class corporation and the industry leader in quality, productivity, profitability, and customer satisfaction in the Indian steel industry. 

Maruti Udyog: Customer passion; flexibility and first-mover; innovation and creativity; networking and partnership; openness and learning are some of our basic values.

ONGC’s vision is to be a world-class oil and gas company with a global footprint and dominant Indian leadership.

Wipro’s Spirit is the company’s soul. Spirit is grounded in the present, but it also embodies Wipro’s aspirations for the future, making it future-focused. The Spirit is an indivisible synthesis of all three statements: Manifesting intensity to win, Acting with sensitivity, Remaining unwavering in your commitment to integrity at all times.

Reliance Industries believes that corporate activity can only be ethical if founded on the nine core principles of honesty, integrity, respect, fairness, purposefulness, trust, responsibility, citizenship, and caring. Growth is a form of health maintenance. For Reliance Industries, growth entails a commitment to safety, the environment, conservation, belief in our people, and willingness to go outside the box.

Infosys Technologies is a globally respected company that delivers best-of-breed business solutions using technology provided by best-in-class people. It achieves its goals in an environment of fairness, honesty, and civility to our clients, employees, partners, and society. Customer Delight; Leadership; Integrity and Transparency, Fairness, and Pursuit of Excellence are among Infosys Technologies’ ethical values. 

Canon’s ethical ideals include: Fostering positive relationships with consumers and communities, Maintaining positive relationships with nations and the environment, taking responsibility for the influence of their actions on society.

Johnson & Johnson’s ethical values include: providing high-quality, timely service at a reasonable price to make a fair profit; respecting employees’ individuality while keeping in mind their job security and ability to fulfil family responsibilities; informal communication; just and ethical action; and encouraging community service.

Doing the right thing for the customer, people, environment, and society; Providing superior returns to our stockholders; and The customer is job one are among Ford Motor Company’s ethical beliefs.

Respect for individuals; IBM anthem; Devotion to customers; Lifetime employment; and Open door programme are all examples of IBM’s ethical ideals. Ethics is important to IBM because “doing the right thing” is good business. 

Furthermore, high business ethics leads to:

  • Attracting superior talent.
  • Retaining employees.
  • Attracting new customers.
  • Retaining customers.
  • A positive impact on corporate reputation.

Subscribe To Newsletter


Himanwita Mazumdar
Himanwita Mazumdar
Assistant Editor at Business Review Live. Currently pursuing Masters in Media and Communication Studies (MSc) from Savitribai Phule Pune University, India, with a Bachelors degree in English Literature. She specializes in Feature writing.