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Effective Strategies for Fighting Corruption in Businesses
Effective Strategies for Fighting Corruption in Businesses
Time icon 6 October 2017, 9:46 am

Corruption is a substantial menace that is deeply rooted in many businesses, governmental institutions, and non-governmental organisations. There is still a big gap between saying and doing regarding the implementation of anti-corruption mechanisms in our entrepreneurial culture. According to a report by Control Risks and the Economist Intelligence Unit, at least 25% of organisations admit that there is a likelihood of their organisation investigating a suspected case of corruption involving one of their staff members in the next two years.

Strong Policies and Reviews

One of the ways that have been put forward as a means of fighting corruption is having written policies and reviews. The policies are intended to provide a firm foundation for the anti-corruption efforts. However, this isn't sufficient to get rid of the problem. Strong leadership and vigilance are critical in the war against corruption.

Leaders need to adhere to the ethical business practices to avoid sending the wrong message to their employees. Leaders who fail to to do so risk creating an organisational culture where corruption is considered as the way business is done.

Managers and leaders need to come out clear about what can and can't be accepted as a good business practice. Remember the fact that your employees are often faced with different situations every day, and anyone can offer or be offered a bribe.

Constant Balancing Acts

Various factors may lead a person to give or accept a bribe. Such factors include ignorance, pressure from the seniors, and real or perceived pressure to meet business targets. The anticorruption efforts will require constant balancing acts especially at times when employees feel pressure to hit revenue goals and satisfy the stakeholders.

Leaders as Role Models

Sometimes effective leadership that supports anticorruption efforts may mean missing out on significant business opportunities. Managers and team leaders need to engage their staff in constant training activities geared towards eradicating corruption. As mentioned earlier, leaders should be role models and act from the frontline always encouraging employees to stick to the organisation's code of ethics.