Companies have finally come to realize that institutional justice and fairness are perhaps the most basic tenet of any successful workplace. If employees believe they will be treated fairly, it will engender a level of trust that can work to not simply motivate employees but lead to a more successful workplace and, at the end of the day, a more profitable company. This encompasses the entire lifecycle of the employment relationship, from hiring through separation. It works in areas as seeming disparate as compensation and incentives, discipline, promotion and internal reporting.
Three key takeaways:
- The DOJ and SEC have long called for appropriate and consistent application of both incentives and discipline.
- The Fair Process Doctrinewill help set institutional justice as the norm in your organization.
- Inconsistent application of discipline will destroy your compliance program credibility.