Transparency Trends: Expectations rising

Eric Brotten (eric.brotten@optum.com) is Director of International Compliance Programs at Optum in Eden Prairie, Minnesota, USA. Jessica Tjornehoj (jessica.tjornehoj@usbank.com) is Assistant Vice President and Manager of Global Ethics Strategy and Framework at U.S. Bank in Minneapolis, Minnesota, USA.

Around the globe, stakeholders from consumers to regulatory bodies are looking for new ways to drive ethical behavior within corporations. Whether it’s transparency about hotline trends, invoicing practices, gender pay gaps, CEO/worker wage disparities, or government payments, companies are being asked to report more and more previously unshared metrics. The result is a new level of corporate transparency that can better equip individuals and companies to make employment and business transaction decisions. These expectations are also shaping corporate ethics and compliance programs in what they prioritize and act upon internally and share externally. Because of the trends we describe throughout this article, you have an opportunity to help your organization address transparency strategically and proactively before it becomes a requirement.

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