Importance of Avoiding Conflict of Interest

Let's talk about why we should avoid conflicts of interest and what they do to an organization. Avoiding conflicts of interest is critically important. It matters to you, your job, and your company. Here is why avoiding conflicts is so important…First, productivity: Conflicts of interest provide unnecessary distractions and decrease productivity. When employees are focused on their work and free from distractions, the company is more productive and the work gets done. Second, Profitability: Personal use of company resources and competing with the company costs your company money. Unnecessary expenses cut the profitability of your company and jeopardize your livelihood and the future success of the company. Third, Honesty: Giving your best effort to the company and avoiding conflicts of interest is simply the right thing to do. It’s an honest day’s work for an honest day’s pay. It’s ethical, moral, and it’s honest. Fourth, Security: Conflicts of interest can create serious security concerns if company information is used outside the company for personal gain. Fifth, Unity: A company needs unity in order to survive. You are part of a team. As a part of the team, you have to put your own interests aside and work for the good of the team and not yourself. Sixth, Priorities: How you weigh your personal interests and those of the company indicate where your priorities are and where your loyalties lie. And seventh, Fairness: It is fundamentally unfair when inside influences through family or connections come into play. Inside connections short-circuit and undermine the entire system.

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