Abstract
Ethics and compliance programs are imperative for all types of business organizations. That is because they ensure that businesses operate according to the demands of the law, and that they maintain their reputation among their customer bases. For instance, ethics and compliance programs may require organizations to conduct external audits on their financial information every once in a while, to ascertain that they are compliant with financial fair play regulations. As such, it is important for businesses to ensure their human power follows the ethical and compliance guidelines to avoid any legal or reputational issues. For businesses to ensure that their employees are compliant, it is important for them to consider the psychological factors that influence human behavior. That is because they will indicate whether the human factor will remain compliant with the set rules and regulations. In this study, the objective will be to prove that psychological factors are essential when adopting ethics and compliance programs, so as to show the psychological factors for organizations to consider. Ideally, human behavior is significantly influenced by motivation, attitudes, and perception, and these are the factors that the research will focus on analyzing.
Highlights
It is impossible to understate the essence of ethics and compliance programs to business organizations
It is apparent that psychological factors play a major role in the adoption of ethics and compliance programs
Considering that psychological factors influence human behavior and the likelihood of abiding by the set guidelines, it is important to ensure that ethics and compliance guidelines are designed with psychological factors in mind
Summary
It is impossible to understate the essence of ethics and compliance programs to business organizations. When developing ethics and compliance guidelines, it is relevant to consider psychological factors and their impact on human behavior. The study will reveal that it is imperative to consider human behavior in the development of ethics and compliance guidelines. The culture followed by employees within a work organization may influence their receptiveness to given rules and regulations. Given that ethics and compliance guidelines are designed to ensure all persons within an organization conduct themselves it is essential for the administrators to consider the unique psychological factors that influence employees within their organization. By evaluating each of the psychological factors independently, it will become apparent that psychological factors play an integral role in influencing employee behavior, and their likelihood to follow ethical and compliance guidelines. Before getting into detail about the essence of considering psychological factors when adopting ethics and compliance guidelines, it is important to evaluate what makes up good ethics and compliance guidelines
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