Business Ethics and the MENA Workplace

БаyЕ Business Ethics and the MENA WorkplaceB A Graphic Overview Being ethical means doing the right thing. At an organizational level, most companies have a formal or informal "ethical code" which is shaped by their corporate culture, their values, and the laws laid out in the region. The truth is, having a formalized "code of business ethics" is more important than ever before. These days, word travels quickly, and for a business to grow, it must create a reputation of being a company that keeps its promises, makes the right choices and puts ethics before monetary benefits. After all, consumers are looking for companies they can trust, and employees work better when there is a solid business ethics model in place. Professionals in the Middle East and North Africa (MENA) agree that business ethics are very, very important. 98% believe that it is important for their companies to have ethics and integrity. 98% 68% of professionals in the region say their company needs ethics-related training. The Perception of Business Ethics While most professionals in the MENA seem to believe that their organizations and managers are ethical, a very significant 55% have been asked to do something that clashes with their personal values as people. Do companies have a high level of ethics and integrity? 26% No 74% Yes Do your direct managers display high level of ethics and integrity? 77% Yes 23% No Have you been asked to do something that clashed with your personal values? 55% Yes 25% 20% No Rarely Do you think success is possible without compromising your morals and values at work? 30% 70% No Yes 6 Ways to Ensure a Solid Code of Business Ethics It is important to have a solid code of business ethics to ensure that employees never feel like they're doing something against their values. Here are six recommendations: 1. Have clearly communicated organizational values 68% say their company is very transparent about its values. 2. Have a written code of ethics 60% say their company has a written code of ethics vs. 28% who say they don't. 3. Let top management be ethical role models 68% Is that a bird? No, it's my boss! say top managers in their organization set a good example of ethical conduct vs. 32% who say they don't. Is it a plane? 4. Make it easier to report unethical behavior 66% ETHICS ALARM say their company has clear procedures for reporting unethical behavior vs. 20% who say they don't. BREAK GLASS 5. Punish unethical behavior 72% say their company does take punitive action against unethical behavior. 6. Appraise your team on ethical criteria 79% of employees say they are reviewed on ethics, as part of their employee appraisal system. Ethics BAYE Data taken from the Bayt.com "Values, Ethics & Integrity in the MENA Workplace" poll, June 2014. For more research and reports on the Middle East, visit The Middle East's #1 Job Site www.bayt.com/en/research-reports/