Establishing an Effective Ethics and Compliance Program
Bruce Hamm, Principal Consultant and Founder of Compass Solutions, a business ethics and compliance consulting firm, explains why organizations need a formal compliance program, and outlines the steps necessary to create one. He begins by discussing the benefits a company will gain by setting up an effective ethics and compliance program, such as prevention or reduction of criminal penalties, improved public image, and even market leadership. Hamm continues by outlining the requirements, based on federal sentencing guidelines, for establishing a compliance program. He then walks the viewer through recommended methods for implementing these requirements. Along the way, Hamm discusses, in detail, several guiding principles that should be followed to ensure that current compliance standards are met. He concludes by pointing out how ethical decision-making can contribute to an organization's success.