The FCPA Blog | By: Aarti Maharaj | Tuesday, June 6, 2017 at 8:22AM:
A new survey found that Chief Compliance and Ethics Officers are struggling to effectively aggregate and analyze data due in part to outdated technology and a lack of available tools at their disposal.
The 2017 Ethics and Compliance Survey engaged more than 335 business ethics leaders across the United States and abroad.
The report, released this week by the Ethisphere Institute and compliance services firm Convercent, found that respondents use up to ten different systems to collect and quantify data. But just 7 percent are connected through automated feeds.
Seventy-four percent said they use email mainly to collaborate and share data, which could result in a cumbersome process.
According to Ethisphere’s Erica Salmon Byrne, EVP and Executive Director, Business Ethics Leadership Alliance (BELA), the 2017 survey reveals several key issues facing ethics professionals including outdated technology and ineffective processes.
At the same time, the survey highlights how companies can address challenges related to developing and executing meaningful ethics programs through greater data analysis, assigning meaningful metrics, and conducting efficient communication.
“We have come so far over the course of the last decade, in terms of the data — the actual data that is available to companies,” said Byrne. “We’re starting to see data about employee turnover, employee culture and productivity, but we’re not 100 percent there yet because As the report points out, Most CECOs are forced to gather siloed data from multiple departments and that’s an issue we’ve got to solve as a community.”
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