This situation is just one of the many potential ethical issues that exist in the workplace. Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. . âCooking the booksâ is a surefire way to put your company behind the 8-ball. Some of these behaviors include integrity, professional conduct, accountability, and fairness, among others. Nepotism, in case you’re unfamiliar with the term, refers to a form of favoritism for family members or close friends. Become is not a loan provider, loan broker, or other funding provider and does not provide actual loans or any kind of advice. List of Ethical Issues in Business. When problems arise, use them as opportunities to learn as an owner and to build a better, fairer, and more ethical business. What can your business do about accounting practices? PregnancyAccommodations and equal treatment must be provided within reason for pregnant employees, Race/ ColorEmployee treatment must be consistent regardless of race/ ethnicity, ReligionAccommodations and equal treatment must be provided within reason regardless of employee religion, SexEmployee treatment must be consistent regardless of sex/ gender identity. It’s not enough to simply know what the biggest ethical dilemmas in business are – you should also be aware of why they’re considered problems and what you can do about it at your business. It is important to make sure that you and your employees stay aware and adhere to any changing regulations or statutes that can affect the operation of your business. The planet will thank you, and so will your bank account. Are you obligated to keep an employee who holds distasteful views and expresses them online? It’s not all doom and gloom though; of course, there are actions you can take to ensure health & safety at work. If you then get caught, you could also be responsible for your employees losing their livelihoods – even if they have no knowledge of the wrongdoing. Individuals within a company often defy the governance and bylaws that have been put in place to make sure the company is run ethically. According to the United States Equal Employment Opportunity Commision, or EEOC, there were 76,418 charges filed in 2018 alone, costing hundreds of millions in losses. Although discrimination and harassment policies in business settings deal with separate types of treatment, they both are used to protect employees with differing backgrounds and circumstances. If sexual harassment does occur at your business, acknowledge the charge, investigate the case thoroughly, respond with care, and administer discipline if need be. More often than not when we discuss harassment at work the topic quickly shifts to sexual harassment. Which ethical dilemmas in business should you be focused on? Although they may not always break laws, business governance problems break trust within an organization and can cause future problems within a company hierarchy. Even if your business operates entirely within the confines of an office building, environmental responsibility is still on the list of ethical issues in business that you should pay mind to. Ethical issues occur when a given decision, scenario or activity creates a … Consider this: approximately 63% of the U.S. population is part of the labor force and roughly. What can your business do about health & safety? Namely solar power. Not only will it save trees, but it will also save you money – roughly. Find out more. Even if yours is a family owned business, you’ll want to pay close attention to the ratio of employees vs. friends/family. Unfortunately, small business owners canât always be around all of their employees to make sure they are acting ethically. The new Minnesota government-run $60.3 million financial relief program will provide small businesses in Minnesota…, You'd be surprised at how many businesses make one or more of these mistakes and…, Small businesses in the USA can now gain free access to their Experian business credit…, In this age of digital connectivity, advanced technology and online networks have had an…, Every small business owner and entrepreneur needs to set up a business bank account. So what does that have to do with ethical problems in business? An unfortunately popular example is the gender wage gap, where employers pay women less than a man who is considered to be performing the same work. Not only would you be cheating the IRS and American taxpayers by benefiting from tax deductions your business doesn’t actually qualify for, but you’d also be deceiving your shareholders (if you have any). Ethical problems in business are something that most if not all owners will encounter at some point in their career. According to the U.S. Employers are also bound to workplace ethics and may also be tried for unethical behavior. Great! In order to receive the full article please mark the checkbox. Workplace ethics is not for employees alone. Installing solar panels on your place of business will reduce the amount of electricity you source from the power company and can save you upwards of, on your electric bill. It’s key to also highlight that physical safety shouldn’t be your only focus; psychological well-being is a core component of creating a safe and healthy workspace. That can include having employees sign agreements that they will follow company rules, not allowing the ‘little things’ to slide, by limiting the serving of alcoholic beverages during company events, and so on. Keeping Employees Safe. ... a business' role in social issues, and more. 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