ESG is not a trend, but the way to responsibly shape the future. But what about ESG compliance in your own company? ESG stands for Environmental, Social and Governance and medium-sized companies are confronted with this in many areas. A sustainable ESG concept helps a company to define and achieve its sustainability goals, to be attractive to banks and to increase the value of the company. When developing and implementing such an individual concept, many questions arise that need to be clarified. A systematic and structured approach ensures the necessary transparency here.
The shortage of skilled workers continues to worsen. New employees are desperately sought across all industries, and it has never been more important for companies to retain their employees. At the same time, many transformation processes are changing the demands on employees, work models and corporate processes.
It is well known how difficult the current framework conditions are for the HR sector.
Those responsible are responding to all these hurdles by rethinking HR management. An appreciative work culture among employees and positive interaction are crucial to success and are top priorities for contemporary HR managers. After all, only companies that stand out from the competition with particularly attractive working conditions and a positive employer image, that successfully implement important transformation processes and establish forward-looking HR models and new ways of working have a chance of attracting good personnel.
We don’t like to paint the devil on the wall. Rather, we think that part of risk management is to ensure the ability of an owner or a partner to act even if the person is unable to act himself at the moment. Illness and accidents are just two examples. The roles that an entrepreneur has as owner, managing director or partner must also be fulfilled in this situation – but by whom and on what basis? This is where the entrepreneurial power of attorney helps.
Strategy, liquidity, earnings: a company crisis can have various causes. Well-established crisis compliance shows the right steps to take in the individual situation. The risk of a crisis has increased significantly in recent years and more recently against the backdrop of the pandemic and the Ukraine war – even for seasoned companies. Moreover, in times of numerous high-profile corporate scandals, the liability claims of boards for misconduct have come into focus. Against this background, crisis compliance management is currently experiencing a strong upswing.
Introducing new processes, mastering transformations, overcoming challenges: A company that is intensively concerned with itself can be highly satisfied with its performance. But where is the customer? The needs of customers change at least as fast as the markets. A company must keep up if it does not want to be left behind by the competition. This calls for a consistent change of perspective from time to time: the focus is not on the company and its products, but on the customer and his or her needs.
Well-managed compliance protects companies from criminal offenses, breaches of rules, unethical behavior and the associated financial losses and reputational damage. But even the most sophisticated compliance organization can only be effective if communication is right. It builds the bridge between the rules and regulations and acceptance within the company with transparent information and an exchange based on trust. Compliance management can only be successful if everyone is informed about the regulations, duties, codes of conduct and responsibilities, can understand all the rules and supports the associated goals.
The war in Ukraine is hitting large parts of the economy with full force. There is hardly a company that is not directly or indirectly affected by the consequences. “Cash is king” is especially true in crisis situations, and liquidity management is a vital instrument for making liquidity bottlenecks transparent or averting insolvency if possible. […]
Delivery problems, staff shortages, trade relations: The war in Ukraine is having an impact on small and medium-sized businesses, and every company is affected differently. How strongly this war will affect the economy is hardly predictable and depends, among other things, on how long the war will continue and how far the situation will deteriorate.
It is not about horror stories, of which we know many. It is solely about how you prepare your business for future developments and for the unpredictability of life. Succession is not only the planned end of your entrepreneurial activity, but also the abrupt, hopefully temporary loss of an entrepreneur. From the responsibility towards the ecosystem of your business follows the preparation for the worst-case scenario – even if it will hopefully never occur.
“Organizations do not commit violations of the law or misconduct. These are committed by people in the organizations.”
Compliance combines goals and functions to comply with laws and rules in the company and to create the framework that misconduct is avoided. In practice, compliance looks different for every company: Of course, every company has to adhere to the legal provisions, thus acts “compliantly” per se. But for a craft business, other laws and internal rules are important than for an IT company or a logistics company. All internal rules that go beyond the law are formed from industry practices, stakeholder expectations and corporate values.