The classic way to train pets is to provide the proverbial “carrot and stick.” The theory is that the fear of punishment along with the desire for reward will encourage the desired behavior.
The same analogy can apply to corporate behavior. This is the way corporate compliance training practitioners explain it.
- The “stick”
Every corporation, public and private, is subject to government regulations. From the Securities and Exchange rules that were tightened for publicly traded firms after the 2002 scandals infamously involving Enron, WorldCom and Tyco to the occupational health and safety laws that apply to all companies, there are penalties for non-compliance.
- The “carrot”
Some companies take justified pride in the values-based compliance programs that rely, not upon punishment, but on employees who are self-motivated and self-regulated. A New York think tank, the Ethisphere Institute, provides a list every year of the World’s Most Ethical Companies. A record-high 3,000 companies were nominated in 2011 which shows the desire of businesses to be recognized for high ethical standards and earn a coveted place on the list. First time recipients in 2011 included Adidas, Colgate-Palmolive, eBay and Microsoft.
Learn more at: http://www.lsaglobal.com/corporate-compliance-training/
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