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ENGAGE TREND REPORT 07.13.09
Madoff: Workforce Lessons Learned
After the unethical practices of Enron to the Madoff Scandal, has trust taken a blow?
According to a Gallup Poll conducted in 2002, an astonishing 90 percent of Americans said that corporate leaders could not be trusted to look after their employees, and 43 percent said senior executives were in it only for themselves. Sadly, these numbers have only risen.
However, a global study done at the St James Ethics Center in Sydney Australia found that 80% of individuals agree that they are willing to put in extra effort at work if they know that their organization is run ethically.
There has never been a time where ethics will be more important in business culture. It's been the theme in recent boardroom discussions and graduation speeches.
The blogosphere overflows with coverage of the hurt Madoff caused and debates surrounding the ethics of greed. Did Ruth Madoff ask where decades of wealth came from?
HWhat are the lessons learned? It's as simple as "Don't start down an unethical path". For the next generation of business leaders, integrity is renewed as a company's most important asset. How to inculcate an ethical state of mind for the workforce at financial institutions and other industries?
Stay tuned.
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