Many people don’t see the financial payoff for having strong business ethics. Why give up that extra $ 200 a month in bogus business travel expenses? The company doesn’t need it and you need it. Why not inflate your sales report for the year? It could mean a promotion.
In fact, there are several ways to Ethical behavior can earn your business money.
Clients choose ethics.
Customers will base their decision to buy from you or not partially on ethics.
Think of it this way. If you could choose between two car dealers, one with a reputation for selling stolen vehicles and one with a reputation for making sure the customer gets all the information about a vehicle’s past, which one would you choose?
Clients appreciate business ethics.
Let’s say you have bought a television from a local electronics store. The company calls you back the next day to inform you that you actually overpaid for the TV and that there is a check in the mail for the overcharged amount. You would probably be dumbfounded. Who admits their mistakes, especially when it costs them money? But the next time you want to make an electronics purchase, you will probably remember that incident and go back to that store. Customers reward ethical companies with loyalty.
Employees are more loyal to an ethical company.
If you work for a company that lies, cheats, and steals, you probably think the company will do the same for you, and you will probably be less loyal to them as a result.
Ethical companies are more productive.
At one point or another, most of us have taken a sick day when we are not actually sick. This is, in essence, lying and stealing from the company. (Yes, sick days are a benefit of being an employee, but they cost the company money and should be used wisely.) Studies have shown that employees in ethics offices take less time off and are more productive when they are in the office (probably because they are not gossiping or doing other unethical things).
An ethics office means lower legal costs.
If your employees have a habit of lying, cheating and stealing, someone is going to get caught eventually, and it will likely spell a huge legal headache (and a huge bill) for the business. Nipping unethical behavior in the bud can reduce the chances of a lawsuit.