Getting by or rising to the top?

It’s award season here at the Better Business Bureau Serving Northern Colorado and Wyoming, and on April 21 we will honor four Wyoming and Northern Colorado companies that exemplify ethics in the marketplace.

This year we had 22 nominees for the BBB Torch Awards for Ethics, which meant our independent review panel, comprised of local business leaders and past award winners, had the challenging task of reviewing 22 lengthy applications. Although BBB staff could offer no input when it came time to name the winners, we were provided a bird’s-eye view of how highly ethical companies operate.

One question we hear a lot is: What’s the difference between a company that simply does enough to get by and one that embraces principles of trust? And what’s the big deal about trust, anyway?

Simply put, consumers want to do business with companies they can trust, companies that strive to always do the right thing. Increasingly, they also want to do business with companies that value their employees and their communities.

That’s why the six TRUST Principles of Ethical Enterprising serve as an excellent gauge for businesses of all sizes. Let’s take a look:

Transformation at the Top: A company just getting by lacks leadership from management, perhaps even from the president or owner. A company that rises to the top is guided by leaders committed to ethical business practices that include trust, honesty, integrity, transparency, honoring promises, being responsive and safeguarding customer privacy.

Reinforce and Build/Unite the Team: A company just getting by plugs along, not finding time to learn about or to communicate the importance of ethical practices. A company that rises to the top regularly hires employees that fit the company culture. The business regularly communicates and trains management and staff on ethical practices.

Steer Performance: A company just getting by stumbles and fumbles when it comes to management practices and running the company. A company that rises to the top creates an environment when there is organizational commitment to performance management practices. These businesses provide company handbooks to every employee and regularly provide performance reviews.

Treasure People: A company just getting by often takes employees for granted. A company that rises to the top prizes the intrinsic value of people. Employees are rewarded for jobs well done, recognized for their achievements and given opportunities to team build on and off the job.

Enthusiastically Reinvest: A company just getting by stays focused on the job and the clock. A company that rises to the top generously supports the community that supports them, whether it’s donations of time or money.

Pam King is president/CEO of the Better Business Bureau Serving Northern Colorado and Wyoming.

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