This content was created by GHION.AI . This content was uploaded by GHION.AI . This is a YouTube video titled "Company Ethics" created on December 14, 2017, discussing the importance of setting a tone from the top in companies to ensure ethical behavior, compliance training, and compensation policies at Epiphany Online.
Chapters
First and foremost, the way you do it, which I think is something people always should have been doing, but many companies did not. And that is set a tone for the top. Any cfo, audit committee, or legal counsel, general counsel will tell you that the tone from the executive team and the CEO has everything to do with how everybody behaves. So if they believe you will not tolerate violations of ethics or the rules of the company, then you're going to eliminate probably 80 to 90% of the problem right there. But they have to see that you care about it. We rolled out compliance training at Epiphany Online, and I was one of the first people who did it. And there was also a prize, and, you know, it was a really good prize, so I wanted to win the prize by being one of the first hundred people done. But, you know, they've got to see that you care about this, that this you. They got to see that you attend the meetings to go through the results, that you're serious about it, et cetera. That if you ever catch what even might be the sniff of a violation, even if it's inadvertent, that you take it seriously, you deal with it, that's the first thing you do. And the second one is compliance training. And the third one is probably have a compensation plan and an employment policy that would obviously, you know, carrots and sticks be a big problem if somebody violated it, you know, cause for immediate termination, as an example. And. And we certainly have that at Epiphany. I'll tell you one other thing. And this was viewed as heresy 20 years ago, but at Epiphany, we don't pay people on the deals they close until we've collected the money. Because generally when you've collected the money, the deal is firm. I mean, so, you know, by the time we've gotten the money, it's pretty clear there probably wasn't a side letter. They really intended to buy the software, they really wanted it, et cetera and so forth. That's another way. So there's lots of vehicles.