Practical steps to comply with the Bribery Act 2010
Practical steps for complying with the Bribery Act 2010.
1. Update your staff employment contracts to refer to bribery and make it a case of gross misconduct.
2. Update third-party consultant or agent agreements in the same way.
3. Update your grievance & disciplinary policy to include bribery as a case of gross misconduct.
4. Communicate the updates to all employees.
5. Assess the risks, both in terms of geographical markets and the size and type of contracts you bid for. It should be obvious to you where the risks lie and how serious they are.
6. Provide training where necessary to employees operating in potentially high-risk situations.
7. You may also want to communicate these new policies to all partners that you do business with, including those that supply you. Telling parties of your policy and procedures may help to avoid the situation arising in the first place.
8. Reassess the risks when you move into new markets, or when you are competing for particularly lucrative contracts.
9. Many will see the Bribery Act as another burden on businesses. However, it helps to create a level playing field and truly competitive market for everyone.
10. Lastly, be creative this is actually a marketing opportunity. Tell the world you have these procedures in place and that you are a responsible organisation.