Companies Cite Multiple Advantages by Participating in the Process, Regardless of Program Maturity
New York, NY – September 8, 2016– Ethisphere, the global leader in defining and advancing the standards of ethical business practices, announced today the kick-off of the 2017 World’s Most Ethical Companies program. The program, now entering its eleventh year, is designed to recognize organizations that understand the value that permeates throughout an entire community of employees, customers, investors and the public at large when words about ethics, compliance and good governance are translated into action.
Compare Leading Practices and Outcomes
Recent statements by the U.S. Department of Justice indicate that there is an increased expectation that the right data will not only be gathered as part of effective programs but also that the data will be measured and monitored. Those who participate in the Ethisphere process obtain their scores relative to those eventually honored, as well as an independent and confidential scorecard that highlights areas of both strength and weakness. And because comparisons are provided against similar companies and industries, data is far more relevant and actionable.
As part of its mission to promote ethical corporate behavior and help companies move their programs forward, Ethisphere has analyzed aggregate data from 2016 and published three infographics that compare World’s Most Ethical Company honorees to others and identifies developing trends for leading companies. “Actionable Insights from the 2016 World’s Most Ethical Companies” offers a clear view into how leading companies address their ethics, compliance and governance challenges and demonstrates for all companies how they would benefit by participating in this confidential process, whether or not the outcome is the World’s Most Ethical Company designation. The infographics can be downloaded here.
Additionally, Ethisphere’s longstanding belief that there is a correlation between ‘ethics’ and ‘the bottom line’ has been confirmed in a recent independent analysis. When publicly-traded companies named as 2016 World’s Most Ethical Companies are compared to the S&P 500 over the 2015 calendar year, World’s Most Ethical Companies demonstrated an ethics premium of 3.3% (see the comparison).
Insights into the Process and How Companies Gain by Participating
Ethisphere will host a webcast for those interested in learning more about the EQ and World’s Most Ethical Company process, the methodology behind the EQ and why participating in the process provides meaningful feedback to companies. This webcast is scheduled for Thursday, September 15, 2016 at 1:00 PM ET. Raphael Richmond, Global Director, Corporate Compliance, Ford Motor Company, is the guest speaker. Register here.
“Each year the bar is raised a bit higher and we respond by evolving our programs along with the survey,” explained Tom Tropp, Corporate Vice President Ethics & Sustainability, Arthur J. Gallagher & Co.
“There is great value in participating in this process whether or not the company is eventually named as a World’s Most Ethical Company,” said Katherine A. Lawler, Senior Vice President, Inclusion and Employee Relations, U.S. Bank. She added, “For example, the process provides a holistic assessment of where we stand in our program, we can compare ourselves against a gold standard of leading companies both in the US and in our industry and we become aware of areas that we can change or enhance. Additionally, by pulling our internal team together to work on the project, we forge and deepen relationships that allow us to mature our program going forward.”
Timeline and Results
Companies wishing to participate complete a brief form naming who should receive a custom link to the EQ. The completed survey along with documentation supporting the self-reported answers is due to Ethisphere before December 1, 2016. Ethisphere analysts score the surveys and conduct needed legal and reputational reviews.
In April, 2017, all participants receive a scorecard comparing their overall EQ and scores on a set of key questions and 5 categories to those of the honorees. Honorees will be announced on March 13, 2017 and celebrated at a gala dinner in New York City on March 14, 2017.
To start the process, visit: http://worldsmostethicalcompanies.ethisphere.com/start-eq/.
More information is available at http://worldsmostethicalcompanies.ethisphere.com/faqs/.
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. More information about Ethisphere can be found at: https://ethisphere.com.