In today's business world, especially in manpower outsourcing business, ethics should not be viewed as an option, but as a necessity. In the past, many people believed that short-term gains justified unethical practices. However, it has become increasingly important to prioritize ethical practices when selecting the right employer, customer, and employees.
Business ethics involves examining ethical principles and moral problems that arise in a business environment. The goal is to ensure that businesses act in a responsible and ethical manner. Several countries have introduced laws to rein in unethical practices.
To ensure ethical practices in business, organizations need to obtain the right licenses, follow the correct code of conduct, avoid under-the-table payouts, and follow the laws of the country in both letter and spirit. Once these fundamentals are secured, it becomes easier to transact business.
The UAE has made significant strides in regulating the manpower industry. The Ministry of Labor has worked hard to ensure transparency and ethics in this business sector, engaging with their counterparts in the supply countries to protect blue-collared workers. It is now the responsibility of business leaders to ensure that the framework is implemented across all levels in the UAE.
One of the key value propositions that an organization can make is trust and transparency, built on a sound partnership approach. Trust can be built when the business is built on ethical grounds. It takes a long time and often multiple transactions to build trust. However, it only takes one unethical action to destroy it.
More and more companies are reaching out to their suppliers and contractors to work jointly on issues of sustainability, environmental responsibility, ethics, and compliance. Therefore, it is essential for businesses to prioritize ethical practices to build a sustainable and trustworthy reputation in the market.
In conclusion, business ethics is not an option, but a necessity. By prioritizing ethical practices, organizations can build trust, transparency, and a sustainable reputation in the market. The onus is on business leaders to ensure that ethical practices are implemented across all levels in their organizations.