Codes of ethics are important documents. Yet that in itself can be a downside. Often launched with a bit of a fanfare, they can then lie unchanged for several years. Codes then acquire a rather fossilised existence, slowly but surely losing their influence on how people go about their work.
This path to irrelevance needs to be addressed. If your code of ethics isn’t contributing something to your business, then you need to change it to make sure that it does. I’m going to highlight 11 reasons why your firm needs to take a fresh look at its code of ethics.
I’ve seen some great codes of ethics in my time, and to be honest, some not so great ones. And such ‘weighing up’ needs to take account of both the context within which the code exists, and the purpose for which it is being used. These are not static, and neither should be your code of ethics. Time to hit the ‘refresh’ button?
Duncan is the founder of the Ethics and Insurance blog and the author of its many posts. He’s a Chartered Insurance Practitioner, having worked 18 years in the UK market. As an adviser to many firms on ethics issues, as well as a regular conference speaker, he is one of the leading voices on ethics and insurance.