In part 2 of this series, around ‘Eliminating Barriers to Expansion’ in partnership with Globalization Partners, Paul Lomas (Chief People & Organisation Officer at Bibby Financial Services) looks at why compliance is an integral part of global growth.
Compliance and regulation are fundamental to organizations as they would need to work and be aware of moving forward, particularly as fraud and corruption are on the rise. As a regulation, compliance, and governance rules are constantly changing and becoming more applicable across the globe, then organizations have to reflect that in the way they want to do business in a particular area/sector. Paul explains how organizations need to recognize that the responsibility is now moving away from the organization and leaning more towards individuals who are responsible for those actions.
The growth in governance legislation means that organizations need to ensure they are at the top of their compliance game to act responsibly and behave responsibly within a particular area of an organization. Organizations need to consider their value proposition as part of their purpose as an attraction to gaining that talent. Paul summaries how in today’s markets, individuals will not work for organizations that they do not trust, whose leadership team does not act in the right way, or those who do not have a clear plan of how they are going to improve.
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