An ethical company may mean more sales and fewer costs. How can marketers hire more ethical employees and become more ethical leaders?
If there were a business focus that lowered operating costs, increased sales and allowed companies to palatably charge more for their goods and services, they’d focus on it straightaway, right?
Not necessarily. Ethics check all three of these boxes, according to Linda Treviño and Katherine Nelson in their book Managing Business Ethics, but many businesses treat ethics as an afterthought. LRN, a consultancy that focuses on ethics and regulatory compliance, found in its Program Effectiveness Index Report that only 45% of C-suite executives surveyed engage ethics officers when making strategic decisions, and 49% consider ethics a prerequisite for employee promotion.