Monday, April 28, 2014

High Ethical Standards - More Than Just the Right Thing to Do

"There is a direct and positive correlation between business performance and companies with high integrity."

Steve Koslow @ HR Council

This week at the CUNA Human Resources and Training and Development Council Conference, there's a lot of chatter about "ethics." Our very own Steve Koslow, SVP, chief ethics and compliance officer, brought up some interesting stats about businesses with a strong ethics program and how it can help credit unions.

The following numbers Koslow shared are from a survey by corporate and regulatory consultant LRN and PR firm Edelman
  • 94% of employees surveyed said it's critical or important that they work for an ethical company.
  • 36% of employees surveyed left a job because they disagreed with the company's ethical standards.
  • 85% of customers will go out of their way to buy from a company they trust. 

We've seen time and time again, maintaining the reputation of trust is critical to maintain and grow your membership base. What ethical programs are in place at your credit union?
Location: Madison, WI Fort Lauderdale, FL, USA