Will Your Ethics Hold Up Under Pressure?

Ron Carucci
Forbes
Originally published FEB 3, 2016

Here is an excerpt:

In an ironic appeal to self-interest, for which Haidt readily acknowledges the paradox, he says there are four important reasons “ethics pays.” First, there is the cost of reputation, which most analysts and experts acknowledge links closely to share price performance. Second, ethical organizations have lower costs of capital, as evidenced by Deutsche Bank’s commitment to focus on clients with higher ethical standards. Third, the white-hot war for talent, both recruiting and retaining top talent, takes a painful hit with an ethical scandal. Conversely, the best talent wants to associate with the best reputed companies. And finally, the astronomical cost of cleaning up an ethical mess can soar into the billions after shareholder losses, lawsuits, fines, and PR costs are added up. Still those aren’t the real reasons to focus on this, claims Haidt. The longer-term benefits to a world with greater ethical substance far outweigh the costs of cutting corners for short-term gains. Sadly, unethical choices have paid well for too many executives.

The article is here.

Utah hiring crisis team to manage health data breach

Personal Data: Health Agency ramps up efforts to help victims, rebuild public trust

By Kirsten Stewart

The Salt Lake Tribune

Originally published May 14, 2012

The state of Utah is hiring a public relations firm to handle "crisis communications" in the wake of a health data breach that put the personal information of 780,000 people at risk.

The contract will be short-lived and will cost between $100,000 and $200,000, according to a solicitation published on May 11.

It calls for building a communications plan to "rebuild trust with the public, specifically those who were directly impacted by the breach and those who rely on the [Utah Department of Health] for critical health services."

The entire story is here.

Thanks to Ken Pope for this lead.