Essay on Ethics And Compliance Programs : L ' Oreal

Essay on Ethics And Compliance Programs : L ' Oreal

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In 2016, for the seventh year in a row L’Oreal has been labeled as one of the worlds most ethical companies. Rated by Ethisphere, L’Oreal was one of only four health and beauty companies out of 153 rated to make the list in 2016. Their dedication to staying true to their values when it comes to ethics seems to be doing nothing but benefit them as time goes on. Ethisphere tests companies in five different categories to determine who truly operates in an ethical manner. Companies ethics and compliance programs make up the majority of this test with 35% counting towards it. Followed after by corporate citizenship and responsibility as well as culture of ethics at 20% each, governance at 15%, and finally leadership, innovation and reputation making up the last 10% (“Scoring and Methodology” 2016). L’Oreal was able to show Ethisphere through all five areas that they are capable of running a top cosmetic company while still playing by all of the rules.
L’Oreal manages their company in an ethical manner in every aspect, from research and innovation, to suppliers and workers in foreign countries. They strive to achieve greatness in both a respectful and productive way. For example, L’Oreal has a minimum working age in all countries of 16, which requires kids have completed mandatory schooling before they can begin (“Code of Business Ethics” 2016). If a subcontractor or supplier has been caught hiring children under the legal age, it is their obligation to provide the child’s family with an additional income to make up for the child’s income and they are required to extend a position back to the child once they are of legal age to begin working (“Code of Business Ethics” 2016).
Another way L’Oreal manages ethics involves how they make ...

... middle of paper ...

...y simple; our strength is to have the courage to address them and listen to them so that L’Oreal continues to inspire trust. In a world which has never changed so rapidly, the launch of a new edition of our Code of Ethics improves our practices by adapting our values and ethical principles to the new challenges of our times” (“L’OREAL NAMED AS” 2016). Lulin is referring to the companies Code of Ethics manual which all employees are required to read and follow after. Part of the reason that L’Oreal has been so successful with Ethisphere’s testing goes directly to this Code of Ethics. Since 35% of the test looks at how the company’s ethics programs, and L’Oreal is constantly updating their manual to change with the way the world changes, it only makes sense that they have been and will continue to be one of the most ethically successful companies in the world.

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