SINGAPORE, Feb 14 (Bernama-BUSINESS WIRE) — A new report by LRN Corporation, the leader in ethics and compliance (E&C) solutions that inspire principled performance, has found that organisations in Singapore compare favourably to global counterparts on ethics and compliance.The latest edition of LRN’s Ethics & Compliance Program Effectiveness Report has found that 90% of organisations surveyed in Singapore reported making difficult decisions that were consistent with the organisation’s values in the past year — 20% higher than the global and APAC averages. Further underscoring their commitment to E&C, especially in critical business decisions, 72% indicated that their boards have actively modified or abandoned business initiatives based on compliance factors – also 20% higher than the global and APAC averages.
Singapore organisations also significantly outperform global and APAC programmes in the implementation of incentives and disincentives for ethical behaviour – factoring these considerations into measuring management performance (87% for Singapore; 79% globally), hiring (82% for Singapore; 72% globally), promotion (79% for Singapore; 67% globally), and bonus awards (73% for Singapore; 60% globally). 75% factored ethical behaviour into their promotion and bonus consideration, and 60% terminated or disciplined an executive or high-performing employee over unethical behaviour in the past year; the global and APAC averages stand at only 40%.