Most business owners understand the importance of running an ethical company. Unethical practices, especially in this digital age, are likely to negatively impact everything from your marketing efforts to your bottom line.
While you might recognize how essential it is to be ethical, things become less black and white when it comes to how you measure those ethics.
Thankfully, the process doesn’t have to be complicated. Business ethics can be measured through trust, transparency, tangible actions, workplace culture, emotional support in the workplace, the reputation of your business, and so much more.
Let’s dig a bit deeper into the various ways you can measure business ethics, and why it matters for your company.
1. Understanding Ethical (and Unethical) Practices
When most people think of ethical practices as doing what is right versus doing what is wrong, there are times when that gray area jumps into the picture more than we realize. For business owners, it is incredibly important to have a clear understanding of ethical and unethical practices, so you can make decisions for your company that you can be proud of.
Ethical practices don’t have to be complicated or overwhelming. Some of the most common business ethics include
- Personal and professional responsibility
- Loyalty
- Respect
- Trustworthiness
- Fairness
- Social responsibility
However, it is also important to make sure you are adopting ethical practices based on the needs of your business. For example, if you have a hybrid or remote business model, it is important to set boundaries with your employees. You’ll need to push them and encourage them to stay productive at home, but you should also give them the freedom to enjoy some of the benefits of remote work.
For instance, tracking the productivity of remote employees might be considered unethical as it can create privacy concerns and trust issues.
2. Encouraging Feedback
If you are looking for actual data regarding your business ethics, one of the best ways to obtain it is by encouraging and asking for feedback from your customers and employees.
When you encourage input from within, you’ll promote a positive company culture. You’ll let your team know their input is valuable and you’re listening to what they have to say about the pros and cons of your company.
Listening to your employees and customers can give you insight into your reputation and how people see you — including what you are doing right and “wrong”. One of the easiest ways to collect adequate and accurate data is by interviewing people through surveys. It is easier to recruit respondents than you might think, using tactics like email blasts, website surveys, or even social media.
You can also ensure you are collecting quality data by “humanizing” your surveys as much as possible. Ask clients and employees to record a short video of themselves talking about how they view your business and what they would like to see. When you take that kind of feedback seriously and make changes where it is necessary, you are boosting your business ethics and people will take notice.
Collecting this kind of data isn’t a one-time project. It is something you should be doing continuously to ensure your business keeps moving in the right direction.
3. Promoting Transparency
Think about the brands you trust the most, and consider how that trust was built over the years. Have you ever thought that those brands might be keeping something from you?
You don’t know the inner workings of what goes on behind-the-scenes every day. But, do those brands make a conscious effort to let you know what they stand for, what they’re doing, and why?
If you truly want to be able to measure your business ethics, consider how open you are with your employees and consumers. What do you stand for? Does your audience know it? For example, it is “trendy” to promote sustainability these days. But, consumers are likely to catch on quickly if you are trying to jump on board a marketing trend.
If that is something you are passionate about, be transparent about what you are doing to become a more eco-friendly business. Are you donating to sustainable organizations? Are you committing to “go green” in the office?
It is also worthwhile to peel back the curtain sometimes and let people know what your business looks like daily. Use technology to your advantage and create blogs or social media posts that showcase your employees, specific products or services, and how daily operations make all the difference. You might be surprised by the natural feedback that you get from those simple efforts.
There aren’t tangible numbers that can be tacked on to business ethics. But, at the end of the day, that is not the point of running an ethical company. If you want to see results from your efforts, focus less on numerical data, and more on how your employees and customers react to the things you are doing.
Increases in sales, more engagement online, and a better brand reputation overall are the greatest things you’ll be able to measure when you promote ethical practices.
Ainsley Lawrence is a writer who loves to talk about good health, balanced life, and better living through technology. She is frequently lost in a good book.
