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Albert Einstein said, “Without ethical culture there is no salvation for humanity.”

Ethics are a vital aspect of civilized human behavior and businesses. Business ethics help companies have sustainable relationships and save themselves from legal issues. They are not only a personal need to be a respectable name in society but have become an industrial and business essential.

According to the 2018 Global Business Ethics Survey, employees are more likely to implement ethical reasoning when their company shows why business ethics are crucial.

If you do not know much about the need and importance of business ethics, read till the end.

What are Business Ethics?

Business ethics refers to the code of conduct a business must follow to maintain smooth relationships with the stakeholders and customers. When a company adheres to business ethics, the employees understand how their actions can harm the company’s reputation and destabilize relationships with the stakeholders. There are five types of ethics typically observed in a business that give the best outcomes when implemented together.

• Personal responsibilities
• Official responsibilities
• Corporate responsibilities
• Legal responsibilities
• Economic responsibilities

Some businesses are quite strict with the business ethics that help them grow and gain trust among investors and customers. However, some companies do not care about business ethics, and it reflects in their employees’ thoughts about business ethics. Sometimes employees also believe that their workplace does not implement the ethics program effectively.

According to the 2018 Global Business Ethics Survey (GBES), less than one in four U.S. workers think their company has a “well-implemented” ethics program.

Importance of Business Ethics

There are numerous benefits of business ethics to the organization and the employees, including

Increased Acceptance

If you have not been implementing business ethics in your company previously, you will experience a significant increase in accepting your decisions. Decisions made considering the business ethics are socially more acceptable and liked by the stakeholders. It allows you to have more people agree to what you decide without hurting anyone’s sentiments or getting into legal complications.

Employee Retention

Business ethics affects your relationships with the stakeholders and the employees. People stay in places where their basic needs are satisfied and get their rights. By following business ethics, your customers receive job satisfaction, and they stay with you for a longer time.

Minimizes Cost

Recruitment is an extensive process and involves the use of resources along with energy. By increasing the retention rate, you can reduce employee recruitment and lessen the cost of bringing more people into the company and onboarding them.

Attracts employees and investors

Business ethics contribute to an impressive code of conduct that inclines investors to invest in your company. When they realize that they partner with an organization that values business ethics, it translates to fewer chances of fraud and better opportunities. Besides investors, they also help invite qualified employees to your company when looking for new people. More people work at places where they receive rights and benefits.

Less legal problems

When an organization is determined to provide quality service to their customers and stakeholders, they make sure to comply with ethics to avoid any complications. Incorporating business ethics saves you from legal problems and avoids fines.

Better productivity and teamwork

When business ethics are a part of an organization, every team member and employee works to achieve company goals through the right channel. As no one is dishonest about their work, they prefer working together to receive the best outcomes. Employees trust each other and work effectively.

The interest to work together to achieve bigger goals increases productivity. If you empower your employees to point out anything unethical going on in the company, they work diligently and save the organization from trouble.

Loyal customer base

While one may not think of it immediately when thinking about business ethics, they can help you gain a loyal customer base. A business’s reputation in the market plays a significant role in sales and how people perceive the brand. If your business is indulged in legally or corporately unethical practices, people may prefer another brand over yours. Besides engaging investors and employees, business ethics also play a major role in building a positive image among the customers.

Attracts suppliers

When suppliers know that your business follows business ethics, they find the added benefit of on-time payments and their rights. Having a vast range of suppliers willing to be associated with your business helps you in times of low supply.

Reduced business risks

Business ethics allow you to build a strong reputation in the market where suppliers and stakeholders are willing to partner with you. Complying with business ethics to run your organization acts as an excellent bridge to keep you connected to customers, employees, and suppliers, reducing the risk of loss.

Boosts sales

If you think that opting for unethical ways will bring your company to the top, it is incorrect. Though you may have seen some companies reach the top with selfishness and immorality, the success is short-lived. Going slowly but steadily is a better approach to company success and lets you enjoy it for a longer period.

Customer confidence

Besides customer loyalty, business ethics also build customer confidence. A company that works on ethical grounds is not reluctant to accept its mistake and rectify it. By developing a confident customer base, you become their go-to brand when in need.

Helps maintain quality

Business ethics ensure that no wrong means are used within the company in different departments. When every employee makes sure that everything is up to business ethics, including the quality of material and appropriate utilization of resources.

Helps community

Ethically aware companies understand the need for giving to the community and are involved in CSR programs. It emphasizes their belief in business ethics that include company and personal ethics. By becoming a part of projects that give back to the community, employees understand the need and application of business ethics beyond improving sales and retaining employees.

The Bottom Line

Business ethics are essential for a business to reach sustainable heights. By complying with business ethics and implementing them in your company, you can retain employees, invite investors and suppliers, boost sales, and build a confident and loyal customer base. Make sure to inject business ethics into the roots of your organization for every employee to consider them important.

Though being an entrepreneur involves following your dreams, that doesn’t mean you have to make your life’s mission all about yourself. Successful entrepreneurs think about the impact they’re having on the community and look for ways to improve it. Some are prompted by truly altruistic intentions, but many do this almost exclusively for the benefits they will gain from being community-minded.

From the benefits of social procurement to the advantages of honest advertising, the following methods for making a difference will bounce plenty of positive things back your way.

1. Spend your Dollars Wisely

No business can get by without at least a few expenses. However, by focusing on social procurement, you can leverage these necessary costs to do good. Social procurement involves taking expenses you’re already accruing and adjusting them so that they do some good in the community.

For example, if you need to hire staff to package your products, you could work with a company that helps people with disabilities find employment. When it comes to the packaging itself, you could stock up on eco-friendly options from a small local business rather than going for the cheapest variety available at a major chain store.

2. Advertise Honestly

If you’ve ever bought a product based on the advertising, only to discover that it doesn’t even come close to living up to its promises, then you’ll understand how much good you can do by bucking the deceptive trends and being honest with your advertising.

To be successful as someone who is honest with their advertising, you’ll need to ensure that your products and services genuinely are as life-changing as you claim they are. By stepping up like this, you’ll build a stronger offering. With that strong offering, you’ll build a loyal customer base of people who appreciate your combination of absolute honesty and top quality. As you can imagine, this will lead to positive results for you and for the community of people who appreciate your products or services.

3. Donate some of your profits to a worthy cause

A great way to use honest advertising to your advantage is to donate some of your profits to a cause that’s relevant to your business, and then let people know about it. You’ll need to do your research to ensure you align with a charity or non-profit that is honest, legitimate, and genuinely helping its cause. You’ll also need to be 100% transparent about how much you’re donating.

4. Volunteer at local events

Whether it’s a holiday food drive, your niece’s sports carnival, or a clean-up effort at your local beach, volunteering on community projects is a great way to offer your support and get to know people. If you can’t find volunteer opportunities that spark your interest, consider creating your own initiatives. You may wish to clean up the park across the road from your serviced office, collect and distribute care packages for low-income families in your area, or any number of other things.

5. Partner with and promote other Entrepreneurs

When you find other business owners who share your ethos of supporting the community, share what they’re doing with your audience. Not only will you be helping the other entrepreneur, but you’ll also be helping your customers by connecting them with a business that genuinely cares about serving them well. If you’re careful about who you partner with and who you recommend, then you’ll build a great deal of trust with your audience.

Whether you’re motivated by altruism, self-interest, or both, the tips above are a great place to start if you’re determined to make a positive impact on the community.

Are you observing decreased productivity in your workplace and worried about the long-term effects?

Don’t worry. We got you!

While some factors that influence productivity are internal, like motivation, some are external and directly related to the workplace.

Considering the productivity influencing factors, let’s tell you the factors that influence the productivity of your employees.

Workplace

You might be surprised to know, but the structure of the workplace plays a major role in the productivity of your employees. The environment you provide to the team makes a huge difference in their attitude towards their job and influences performance. It includes both the infrastructure/ design of the space and the working environment they resonate with.

When designing a workspace, it is ideal for giving enough space to each employee to work comfortably. Besides the space, other features that contribute to increase or decrease in productivity relating to the office design include

• Choice of colors that motivate the employees and leave a positive impact. Choose shades that represent the thought and motive behind a specific space.
• Opt for lights that are neither too bright nor dim.
• Provide thinking spaces with motivational quotes and comfortable seating.
• Create a relaxing area where they can play critical thinking games and get back to work after a while.

Working Environment

No employee can give their best when they are continuously worried about their boss being angry or not getting credited for their work. To make sure that you achieve high productivity, you must be a leader than a boss and encourage your team members to take the initiative and support them in their ideas.

The working environment should inculcate values like integrity and transparency, so everyone knows that their contribution is acknowledged. Create a trustworthy atmosphere where your employees feel trusted, offer feedback, and prioritize their mental health.

Goals

How will your team members help you achieve goals when they are not aware of them?

As we talked about transparency, your employees need to know short-term and long-term goals to work accordingly to give the results you are looking for. Without being aware of the goals, they work in an unknown direction and may not be able to deliver what you expect. Informing them of goals also gives you relief that everyone in the organization is working towards a shared interest.

Technology

With the tech-savvy world, it isn’t easy to compete with others in the market without being well-versed with technology. Productivity is highly dependent on tools and technology in today’s time. They help you perform well while reducing the time of processing.

Automating many processes enables you to perform a task of days in hours by using appropriate automation formulae. Using cloud-based technologies helps employees and teams communicate without having to remind each other to check their email.

Training

You may think that your employees are giving their best and have accustomed to the company’s culture and do not need any training. Yet, it is important to train your employees about their job roles regularly, imparting them the advanced knowledge and skill they need for their job roles.

You may have an utterly talented employee who continuously gives his hundred percent but does not achieve any outcomes? It happens when the employee does not know that he is putting the effort in the wrong direction. Training does not only help with enhancing the performance of your workers but also improves coordination between teams to ensure productive outcomes.

Employee Wellness

In the past, it was common for employers to keep work above everything, and employees were expected to work in deteriorating health, and no benefits were offered.

Such work culture ensured short-term high productivity, but what about the long term?

Now it’s all about creating long-term clienteles and retaining employees. The best way to achieve long-term outcomes is to prioritize your team members’ mental and physical health giving them the confidence that their job is secure in any such circumstances. Giving them a few days off to focus on their emotional or physical health can save you from losing a diligent employee.

To improve employee health, you can also introduce a healthy eating culture in the office or encourage everyone to go to the gym for at least half an hour after office timings.

Diversity

Diversity means having a blend of different cultures and backgrounds in the workplace. Diversity promotes acceptance, and your employees feel themselves to be a part of the space, putting more effort into work. Ensuring equal opportunities and representation gives confidence to your team members which you can see in their performance.

While diversity might not directly influence productivity, it can be a crucial element in team performance and job satisfaction. Engage people in healthy conversations apart from work to give them a breeze of freshness to boost their analytical and critical thinking abilities that help with productivity.

Leadership

Leadership is one of the most important factors affecting productivity in a workplace. The leader must be an example of honesty and diligence to their employees, and they should look up to them for advice when needed. A leader’s personality should be influential and unbiased. Leaders should encourage people who work hard and guide others to perform well.

Accepting Feedback

As customer relationships are made through accepting feedback, so are with employees. If your employees or team members are not comfortable sharing the lacking in the business with you, they cannot achieve the goals you are looking forward to.

The way you handle that feedback is one of the crucial factors that influence productivity. When you brush the feedback under the carpet and do not heed what your employees have to say, the issue will not be addressed and continue to prevail.

The Bottom Line

Productivity is not related to anyone’s particular cause as many factors influence productivity. From creating a trustful, transparent environment to providing tech-savvy tools and offering work breaks for physical and mental health, everything contributes to productivity. You can improve productivity by allowing them to take care of themselves and give feedback without being judged or mistrusted. It adds to a diverse company culture that believes in team benefit instead of personal benefit.

Motherhood calls upon a woman to take the responsibility of raising a child and this concurrently changes the way in which she is perceived in society and at her workplace. Juggling a career and children at the same time is one of the most difficult balancing acts a woman will ever perform. Creating a positive business environment where these women can be successful therefore is a challenging duty. Many HR managers have opted for this master called Maam that helps to work in this field and is an answer to many of the challenges working mothers face.

Maam is a life-based program that delivers training in an engaging and rewarding format. It is based on scientific research that seeks to develop a unique training method that revolutionizes companies’ learning.

The business climate of any organization not only determines how comfortable the working mothers are but also helps employers to gauge their satisfaction, leadership, and enjoyment of work. Much of the stress mothers face is because there simply are not enough hours in the day to devote to working and having “a life” when they really don’t have one outside of work often by necessity rather than by choice.

Creating a positive business climate for these working mothers could do wonders in improving the business climate and here are a few reasons why;

Motherhood Increases Emotional Intelligence And Productivity

Today’s woman is under close scrutiny of societal biases relating to career and having children. Although they have the right to choose if they want to have children, many don’t face backlash from either their families or friends. As if that is not bad enough, society once again makes it worse with the classification of good mothers versus bad mothers.

Bad mothers go to work and leave others to take care of their families. This feeds directly into the guilt many working mothers feel about holding a job. Nevertheless, the key is fostering a positive and vibrant business environment where the women feel that they can balance careers and families. Motherhood increases emotional intelligence giving mothers new ways to engage with colleagues and clients.

Motherhood Inspires Creativity

Becoming a mother is one of life’s most common transitions. However, many businesses still believe motherhood interrupts career opportunities because absent mothers miss opportunities to learn and grow. This master called Maam shows that mothers gain new energies and skills when they become parents and the same skills and energies that make a business successful.

When a working mother is comfortable in the work environment, she knows that good ideas will be shared appropriately and that the credit will be given where it is due. This makes them feel more invested in the tasks when they know their input is accepted and welcomed no matter what position they hold.

This feeling can lead to many great things one being the feeling of pride. If mothers begin to feel prideful about their work, they will do what it takes to go above and beyond your expectations. Moreover, being proud of what you do, makes you want to stay.

Motherhood Promotes Collaboration

Working mothers spend so much of their life at work and in a way, their colleagues become like family members. This bond allows mothers not to feel more at home and the urge of missing their children reduces and they can concentrate on the given work. They are able to treat their colleagues with empathy and understanding as they would their children.

This type of culture allows for better social connections, collaboration, and encouragement among team members leading to cohesion and growth of the business as a whole. Working mothers should be trained that quality is more important than quantity. In fact, the guilt and stress working women experience overworking are likely to have more negative effects on them and their children than working itself.

Motherhood Fosters Healthy Living

The work environment has a significant impact on a working mother’s health and well-being. Poor management of workplace health can lead to work-related ill health and to high levels of sickness and absence. A positive and healthy workplace encourages work-life balance for these mothers.

Having a positive and uplifting work culture will help increase the morale to work resulting in business success. Committing resources to see that working mothers’ needs are met can benefit both employers. Employers that look after the welfare of their working mothers depict a more positive public image to society.