When it comes to business and getting ahead, plenty of CEOs are willing to do whatever it takes to come out on top. And I mean anything. But is ruthlessness and moral flexibility the answer?
Business ethics is not a thing of the past and if the last few years has proven anything, it’s that transparency in is more important than ever. The internet has made it possible for anyone, even the unscrupulous, to start a business and at least look like they are successful. For a while, at least. High-profile scandals like Enron are a humbling reminder that corrupt activity does not always fly under the radar. And even if you don’t get caught, bending the rules and backstabbing to get ahead in business is never the best path to personal or business success.
Here are four reasons why:
Company Culture
Leading with ethics sets the tone for your whole company culture. Anyone who’s owned a business knows that your example makes a difference. If you, as the CEO, value ethical business practices, your influence will trickle down through your entire leadership team. They, in turn, will pass these expectations on to their teams, and your whole company will benefit from increased motivation and integrity. Having a culture, you can trust matters.
Benefits of Integrity
Ethical business practices lead to internal and external company benefits. Having a culture of integrity at your business leads to all kinds of internal benefits: honest employees, a team that’s committed to genuine excellence instead of manufactured success, and a commitment to improvement in performance and quality. Employees respect bosses and companies that are looking out for them and trying to do better. And then there are all the external benefits of being transparent and honest: protection against fees and other business repercussions, an improved brand reputation, and higher customer loyalty, to name a few.
Simplicity
If you’re ethical, you have a greater capacity to succeed in business. There’s an adage that if you always tell the truth, you never have to remember everything. This also applies to business. If you’re participating in unethical practices and lying to cover your tracks, rest assured you’ll be spending—and wasting—plenty of energy keeping your questionable activities hidden. But if you’re ethical from the start, you’ll have nothing to hide. Instead of wasting energy cutting corners, expend energy learning how to be a better business. Invest your time in becoming an industry leader and not cutting corners.
Inner Peace
An ethical business faces moral dilemmas with courage instead of avoiding them. As a business owner, you’re going to be faced with ethical dilemmas constantly throughout your career. By choosing integrity and strong ethics now, what you’re choosing is simplicity and confidence for your future. You and your team will know exactly what to do when faced with hard decisions, which will make them not hard at all. You’ll be able to move forward with the peace of knowing where you stand and be the kind of leader who inspires your people to be the best they can be.
Collaboration, not competition
Creating a culture where your employees feel safe to be creative and work with others without fear of being thrown under the bus or having their ideas stolen is essential for a team of collaborators. Focus on working with your co-workers instead of against them. Teamwork creates a healthier environment for everyone compared to a place that is always focused on putting people against each other. You need to learn how to see the best in your co-workers and being able to find a way to show them how grateful you are for their input. As you work in a place where people really support and appreciate each other, the entire workplace is enjoyable, and it’s a place that you feel like you can be yourself.