As a professional, you are expected to adhere to a certain code of ethics. This code of ethics sets forth the standards by which you are expected to conduct yourself in your professional life. It is important to remember that as a professional, your actions reflect not only on you, but on your company, your profession, and your industry as a whole. This code of ethics is designed to protect the public, the profession, and the individual practitioner.
Why is a code of ethics important?
A professional code of ethics is intended to guarantee that workers are acting in a way that is respectable and socially acceptable. It establishes the guidelines for conduct and conveys to all staff members that complete compliance is required. Additionally, it lays the groundwork for an early warning if staff members violate the code. A code of ethics can be useful for a company both internally as a professional manual and externally as a declaration of its principles and commitments.
What is a professional code of ethics?
A professional code of ethics is a set of guidelines intended to guide a company’s decision-making and help it distinguish between right and wrong. These principles, which are frequently referred to as an ethical code, specify an organization’s mission and values as well as the standards that professionals working for the organization are expected to uphold.
In some fields, like finance or public health, specific laws govern how professionals should behave. A voluntary code of ethics may be adopted in other industries. For instance, a company’s official code of ethics might describe its commitment to sustainability even though it doesn’t necessarily focus on climate change.
Examples of a professional code of ethics
Here are some instances of professional codes of ethics from various fields of endeavor:
Lawyers
A professional code of ethics that is applicable to lawyers regardless of their employment exists.
Physicians
Financial advisers
Financial advisors are required by law to abide by a fiduciary duty, which is a code of ethics. According to this code, they must act in their clients’ best interests. It is expected of certified public accountants (CPAs) to uphold similar ethical principles of objectivity, truthfulness, and integrity.
Teachers
Generally, professionals in education are expected to adhere to a global code of ethics that safeguards the rights of all pupils. The basic tenets of the code of ethics may differ slightly from state to state or from school to school, but they are always the same: Teachers must act impartially, honestly, and ethically in the classroom and in their interactions with parents and their coworkers.
Businesses
Businesses frequently create a professional code of ethics to assist staff in determining whether certain actions are appropriate. Some examples of this are:
How to develop a code of ethics
The steps you can take to develop your own personal code of ethics for your business are listed below:
1. Set your priorities
Choosing the values that are significant to your business is the first step in creating an ethics code. Early implementation of these guidelines will aid in your company’s development in the direction you desire. For instance, as your business grows and hires more personnel, you’ll want to make sure they are familiar with its core principles before integrating them into the workforce.
Taking into account your limitations when attempting to attract clients or achieve your revenue targets is one way to determine your company’s values. Additionally, it’s crucial to consider your workplace’s culture as well as more minor aspects like attendance and dress code.
2. Ask employees for input
Request your employees participate in crafting your code of ethics. Employees must comprehend the significance of codifying the code of ethics and the rationale behind its inclusion of specific principles. If you involve them in the process of developing the code of ethics, they will be much more likely to support the idea and the code may include a wider range of values.
3. Put someone in charge
Even with the backing of senior management and staff, someone must be assigned the responsibility of upholding your code of ethics. This person, who is frequently referred to as an ethical or compliance officer, must have a strong commitment to the success of your organization, be trustworthy, and have excellent interpersonal skills. Typically, your HR department will be in charge of this, and they may also be in charge of monitoring and reporting misconduct.
Your company’s code of ethics should be updated by the individual you designate to maintain it. The code ought to be a dynamic component of your enterprise that evolves as it does. You should evaluate whether it still reflects your company and who you want to be each year.
4. Have someone to turn to for help
You can typically draft a code of ethics yourself if you work for a smaller company in a low-risk, low-liability industry. However, you might want to think about speaking with a human resources expert or an ethicist if you have more than 20 employees. To make sure your code of ethics covers all necessary principles, it can be advantageous to enlist assistance.
Professional Code of Ethics
FAQ
What are the 5 codes of ethics?
The five guiding principles of Integrity, Objectivity, Professional Competence and Due Care, Confidentiality, and Professional Behavior form the basis of its three sections.
What are the 7 codes of ethics?
- Be an ethical leader.
- Use moral courage.
- Consider personal and professional reputation.
- Set the right tone at the top.
- Maintain an enquiring mindset.
- Consider the public interest.
- Consider ‘the right, the good and the virtuous’ actions”
What are the 8 professional ethics?
Typically, these include decency, fairness, accountability, openness, discretion, objectivity, respect, compliance with the law, and loyalty.
What are 4 professional ethics?
Since the beginning of time, there have been four basic approaches to ethics that are frequently referred to as ethical decision-making frameworks. These are utilitarian ethics (outcome based), deontological ethics (duty based), virtue ethics (virtue based), and communitarian ethics (community based).
