Managers and employees need to know what your company stands for. They need a reference point and guiding light for the hard times . They need to know what course of action to take when facing ethical challenges. Having an ethics policy is like having a silent watchdog. Managers and employees are sometimes faced with the ethical dilemma of whether to take the 'high road' or to take the expedient one - believing the latter to be in the company's best interest.
Engineers fudge drawings to meet a boss' project deadline.
Lawyers over-bill for services hoping to keep their jobs alive. Human resource managers attempt to bury nasty cases of sexual harassment, hoping to win executive favor. We have to guard against these very human failures. Having an ethics policy that focuses on lasting value is an essential part of doing that. Remember, a system that compromises its ethics loses integrity and will eventually collapse from within , exposing itself to whistle-blower lawsuits as well as government fines and penalties.