2022 World’s Most Ethical Companies®: Top Reasons to Apply
AUTHOR:
Douglas Allen
Managing Director, Data & Services
At Ethisphere, we are in what we call ‘World’s Most Ethical Companies’ season. We launched the call for applications; companies are currently submitting requests for the application guide; and the deadline to submit is November 12th. We announce the honorees in the first quarter of 2022.
There are so many good reasons to apply. Here are the top five.
- It’s a Valuable Process
- The Benefits Continue
- Recognition Has Its rewards
- Ethics is Great for Business
- Integrity is Worth Celebrating
1. It’s a Valuable Process
To apply for the World’s Most Ethical Companies recognition, each company takes Ethisphere’s Ethics Quotient® survey, a proprietary rating system that collects and objectively scores self-reported data in five weighted categories: governance, leadership and reputation, ethics and compliance program, ethical culture, and environmental and societal impact.
In the words of CareFirst President and CEO, Brian D. Pieninck, “The process is the way for us to determine whether or not we’re making the kind of progress we want to be making, as compared to other companies… The idea here is that we need to be able to hold up a lens—not just of ourselves and what we could imagine—we need a lens that incorporates many different other perspectives on this topic, that allows us to really get to a much better trajectory of improvement, constant improvement.”
Read the full interview here >
Furthermore, the World’s Most Ethical Companies process is reviewed and updated every year. Inherent in completing the application, all participants gain access to Ethisphere’s latest thinking on what constitutes effective practices of the best companies.
About the World’s Most Ethical Companies Evaluation Framework >
“If you were to ask me what the benefit is, it’s what we learn every year. And every year we learn something about what others like us and those who are different than us are doing that we could be, should be, and need to be considering that we may not have fully considered.” – Brian D. Pieninck, President and CEO, CareFirst
2. The Benefits Continue
After going through the process, each applicant receives:
- A scorecard comparing your practices to those of honorees and featuring exclusive data insights and links to valuable resources. This will be shared in April 2022.
- Three-month associate-level access to the Business Ethics Leadership Alliance (BELA) for applicants who currently are not members. This includes access to the member hub with a rich range of company contributed materials, exclusive reports, and examples of best practices.
- An in-depth benchmarking for BELA members providing additional insights and improvement guidance.
About the World’s Most Ethical Companies Application Process >
3. Recognition Has Its Rewards
Stakeholders of all types–consumers, investors, employees, and others–value companies that put ethics on the agenda. Being distinguished as a company with exceptional ethics and compliance practices is a business differentiator that resonates with important audiences.
It makes sense that people like to work in a company that they trust to do the right thing. According to Milliken CEO Halsey Cook, “Seeing that (World’s Most Ethical Companies) award was an important part of what attracted me to the company.” He continued, “It means more than any other award we have received. It defines who we are… it is a proof point and manifestation of trying to do the right things and conduct business in an ethical manner.”
Read the full interview here >
“Seeing that (World’s Most Ethical Companies) award was an important part of what attracted me to the company.” He continued, “It means more than any other award we have received. It defines who we are… it is a proof point and manifestation of trying to do the right things and conduct business in an ethical manner.” – Halsey Cook, CEO, Milliken
4. Ethics is Great for Business
World’s Most Ethical Companies Honorees enjoy an ‘ethics premium.’ In tracking how the stock prices of the publicly traded World’s Most Ethical Companies honorees compare to a comparable U.S. Large Cap Index, we found that last year’s listed honorees outperformed the large cap sector over five years by 7.1 percent.
This is echoed in statements by leading investors who are increasingly linking purpose and environmental, social and governance to long-term profitability.
5. Integrity is Worth Celebrating
It’s a major commitment to develop and maintain a world-class ethics and compliance program—and your hard work deserves recognition.
We welcome the opportunity to talk with companies interested in the World’s Most Ethical Companies process. You can learn more at www.worldsmostethicalcompanies.com or get in touch with us at [email protected]
We welcome the opportunity to talk with companies interested in the World’s Most Ethical Companies process. You can learn more at www.worldsmostethicalcompanies.com or get in touch with us at [email protected].
