The growing complexity of corporate conduct and compliance have pushed the role of culture to the top of the C-suite agenda. Companies can no longer think about misconduct and noncompliance issues as the sole domain of the legal and compliance department. In today’s regulatory landscape, companies need to build a corporate culture that is rooted in compliance, and that comes from the top.
To avoid the problems that a weak culture of compliance can lead to, such as reputational damage, loss of market share, and punitive fines imposed by regulators and law enforcement, companies need to demonstrate that their compliance program is more than words on paper. They need to live it through their culture. As the U.S. Department of Justice states in its guidance on corporate compliance programs, a company needs to, “create and foster a culture of ethics and compliance with the law at all levels of the company,” which requires a “high-level commitment by company leadership to implement a culture of compliance from the middle and the top.”1
AlixPartners experts outline seven drivers of organizational culture and how leaders can use them to shape their company’s culture and demonstrate that their compliance program is more than just words on paper. Read more in our report.