The Importance of Integrity in Business
In the modern business world, integrity is one of the most important qualities of not only individual employees but of the whole companies. What is integrity? It is the ability to be consistent in everything you do and act with honesty, it is the adherence to moral and ethical principles. (1) People often associate integrity with doing the right things even when nobody is looking. So, why is integrity so fundamental to business, no matter whether you are a boss, an employee, a customer, or a supplier?
First of all, the business relationships are based on trust. It is important to be confident in some agency or employee, to be absolutely sure that they will act responsibly. When there are trustworthy affairs, employees and employers are open with each other, they are not afraid to share their thoughts and views. Such working environment allows employers to give some independence to their employees. This independence creates opportunities for self-realization and creativity that lets the business to adapt to the changing marketplace. As a result, the employees are proud of their work and feel more connected to the business. (2)
Secondly, businesses are concerned with their reputation. They always care what the public thinks about them. Why? Because reputation is linked to operations. If the company has a bad reputation, it becomes harder to gain new workers and customers. The higher the company’s reputation, the more it draws. When the business acts with integrity, it builds reliable relationships with customers and employees. As a result, its reputation rises. It leads to the effective work and more sales. However, when the company doesn’t act with integrity, it loses customers and workers. The public view becomes more and more negative and the company’s profit lowers.
Thirdly, all successful businesses have stability. Employees who see their leader acting properly are confident that they work in the stable environment. They are sure that their company’s integrity won’t be shaken if tough decisions should be made. The employers will treat people more fairly and create the atmosphere of certainty and support. Those leaders who support the “everyone for themselves” approach, will experience the decrease in productivity and accomplishment. Building a successful business takes time and a lot of work. Companies that operate with integrity become the leaders in their industry.
No doubt, businesses that act with integrity become successful. So, how to increase the level of integrity in your company and preserve it? Start by defining your main values. You cannot live by values you don’t truly believe in. Make a list of the things you won’t compromise on irrespective of the situation, for example, teamwork, stability, uniqueness, generosity, etc. (3) Then start to analyze every choice you make. Having integrity means making the right decisions even if no one is checking. You always need to know what’s right and what’s wrong whether you make little or big choices. It is also important to take responsibility for your actions. If you make a mistake, confess it and improve the situation immediately. Always tell the truth. White lies may seem harmless, but they are still lies. If you want to develop the reliable relationships, always be open with people.
To sum up, integrity in business is a choice. But if you want to make your company stable and efficient, you need to act with integrity. It will ensure the reliable relationships with customers and employees, increase the company’s profit and make your business competitive. When you have integrity, you gain the trust of colleagues and your team. You live in accordance with your deepest values and demonstrate a professional approach to each issue. You are successful, you show everyone that you can be trusted. Isn’t it the main goal of every business?
References:
1. http://www.merriam-webster.com/dictionary/integrity
2. http://www.briantracy.com/blog/leadership-success/importance-of-honesty-integrity-in-business/
3. https://www.mindtools.com/pages/article/newTED_85.htm