In: Accounting
BP had a comprehensive code of conduct and a whistle-blowing policy but did not implement them effectively.
Critically discuss the following:
a. What do you think are the reasons contributing to the failure of code of conduct and policy implementation?
b. What steps should BP take to ensure that its code of conduct and whistle-blowing policy are effectively implemented?
MAJOR REASONS CONTRIBUTING TO FAILURE OF CODE OF CONDUCT AND POLICY IMPLEMENTATION-
1. Inconsistent Administration- The keys to consistent and fair administration of workplace policies are training and accountability. Without these two components, policies are destined to fail. Implementation of new policies must include training for both supervisors and employees and holding supervisors accountable for consistent application of company policies. Accountability is holding supervisors responsible.
2. Lack of Management Support- Policies and code of conduct are likely to fail because they may not get the necessary support from top management. When HR announces a new policy, regardless of how well-respected HR is, some employees may still wonder whether top management endorses the change. The solution is to have both top management and HR stand together to launch new company policies.
3.Lack of Fundamental Support- For policies to be successful, there must be alignment between the employer's strategic goals and what the company hopes to achieve through implementing certain policies. A better approach to the hiring policy that aligns with the goals is to empower managers to make wise hiring decisions, through training and leadership development.
STEPS TO ENSURE EFFECTIVE IMPLEMENTATION OF CODE OF CONDUCT AND POLICIES-
1. Communicate the code of conduct and policies with each one in the organization.
2.Training and reinforcement programmes.
3. Create a Supporting culture and environment.
4. Assign accountability.
5. Continuous Monitoring.