This is the second in a series of five posts suggesting best practices for implementing corporate cultural change. For an overview of all the tips on this subject, check out this preview post. Last week’s post discussed tone and conduct at the top. Today’s post is about enforcement. Next Monday’s post, on March 12, will discuss effective policies. The fourth post in the series, on March 19, will focus on procedures to complement those policies. Finally, on March 27, the fifth post in the series will discuss tips for going beyond training in order to create effective and engaging employee education initiatives to boost awareness and compliance culture.
Last week’s post discussed the importance of commitments by executive boards, senior management, and top leadership in organization to expressing tone and modelling conduct to enable change. Once the path is cleared for institutions to follow, by the statements and actions that aim to define and promote the necessary change, effective and bold enforcement actions must follow.