Clients & Cultures
Clients & Cultures
Compliance is more than meeting the standards of a company. Compliance isn’t just an issue of law, but also has close connections with social and behavioural sciences, as well as the translation that we make of it.
We cannot separate all the elements to be considered while assessing a company but we’d better look at the due diligence process like a picture (involving cultural elements, behavior of the parties, local law, appetite for the business, among others)
Awareness
The primarily responsibility of any employee towards Compliance is of the essence. If an employee knows what is going on in a commercial transaction and understands how a company is working, this employee will be able to identify any element of Compliance.
• Ensure you and your team demonstrate expertise through sharing technical, functional, and industry-specific knowledge.
• Coach others to use expertise to adapt activities to business need and context.
• Builds commitment in others to meet or exceed personal or team objectives.
Support of the organization
When a problem of compliance appears, an employee needs to feel the support of the organization. Creating a sense of psychological safety for others when handling difficult situations such as admitting mistakes and potential breeches, taking an ethical, constructive and empathetic approach is fundamental. That is why organizational safety is very important so that employees are encouraged to speak up. Any company should be a community of decision-makers, and in that process people are influenced by cognitive and emotional biases, and also by the influence or pressure they receive from the group to which they belong.
The new Whistleblower Directive set the tone about how organizations should organize their “safety channels” and give feedback to employees.
Vision
There are various departments involved in the strategy and decision making that a company can adopt to pursue its goals, from Human Resources to Operations or Board of Directors, every department counts to build a strong culture, thinking strategically and managing what is happening on day to day basis.
Having an strategic vision and an understanding the ethics and values of a company as well as having business knowledge is fundamental to advice clients on the regulatory and legal environment Depending on the sector and business, there may be complexities in processes, clients, market sectors and jurisdictions, all of which raise distinct challenges to the achievement of targets.
Garcia Legal helps to align vision and mission with the values of the company and implement them into their culture. Time, resources, and working methods are decided case by case, routinely reviewed, and adjusted to the client's current needs.
Why
• Investors are increasing their focus, and placing their funds, with businesses that have a clear and implemented Compliance Programmes that are measured and reported with successful outcomes.
• Organizations need to live authentically if they want to create trust and collaboration opportunities.
• Employees might have dilemmas and they need guidance and support to stand for their rights and well-being at work.
• Living up to the values and Code of Conduct will allow your company to create a long-term value
• Anticipate to changes and adopting a pro-active behaviour will increase your chances to do business successfully and creating operational benefits like retaining staff of reducing costs.
• Well-developed and maintained business systems and supporting tools can increase staff capacity and provide a high degree of confidence that decision making is legal, robust and predictable