Tag Archive | "survey"

Corruption in the Workforce

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Here’s some fabulous trivia, no sarcasm in that statement of course. According to a poll of 5,000 U.S. workers, 74% discovered “misconduct” within their place of business with colleagues who will do “whatever it takes” to achieve business goals.

More than half of workers in banking and finance industries reported trouble in big business paradise. According to The National Law Journal, 60% claim to have seen actions that “could cause a significant loss of public trust if discovered.”

“Restoring trust and confidence in the integrity of our capital markets and institutions will require business leaders to build corporate cultures that reward ‘doing the right thing,’ instead of ‘doing whatever it takes,’ ” said Richard H. Girgenti, national leader for KPMG’s Forensic practice.

“Too often, organizations create compliance programs that look good on paper, but don’t align with how business really gets done,” added Girgenti, also claiming that the tough economy and fears of job losses can undermine ethics programs just when restoring public trust is vital.

“The KPMG data suggest that managers and employees facing heightened pressure to meet revenue and cost targets may resort to improper means of doing so, especially if they think their jobs are in jeopardy if they miss those goals,” he said. “With so much on the line, now is not the time for companies to cut back on the very investments that are designed to safeguard their reputation for integrity.”

Popularity: 7% [?]

A Depression Coming? How Depressing!

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Our economy is in the toilet and everyone is weary. According to a recent poll, “nearly six out of ten Americans believe another economic depression is likely. According to Anirvan Banerji, director of research for the Economic Cycle Research Institute, “a depression rate would imply more than doubling or tripling the current unemployment rate.”

In 1932, the Great Depression saw the gross domestic product, the broad measure of the nation’s economic activity plunge by 13% in 1932. The CNN/Opinion Research Corp. poll cited common measures of the economic pain of the 1930s. A.) 25% unemployment rate; B.) Widespread bank failures; and C.) Millions of Americans homeless and unable to feed their families.

“We’ve been in a recession all year and it’s going to get worse,” said Banerji. “We’re going from a relatively mild recession to a more painful recession. But we’re a long, long way from a depression.”

Hopefully that’s true but according to the majority, the fear of a depression is very real. Only time will tell.

Popularity: 3% [?]

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