In this special five-part podcast series, sponsored by Affiliated Monitors, Inc., Tom Fox visits with AMI Managing Director Rod Grandon. Along the way, they consider the responsibility of federal contractors to maintain their status as “Responsible Contractors” and explore the benefits of having an effective compliance and business ethics program not only to increase business efficiencies and profitability but prepare you in good stead if the regulators come knocking.
In this first episode, we introduce the concept of Responsible Contractors.
In this Episode 2, Grandon and Fox engage in more in-depth discussion what the government expects from contractors. The concept of the Responsible Contractor focuses on integrity and honesty. It goes beyond the notion of responsibility in all forms of interactions with the government and actions by the company in their commercial operations. All contractors should have a written code of business ethics and conduct. To be effective, the code must be customized to the specific risks associated with the contractor’s business operations.
In Part 3, they discuss small business compliance programs. Companies do not need to “break the bank” in order to have an effective program. Small concerns must still demonstrate the same commitment to ethical conduct and compliance with the law as large organizations, but may do so with less formality and fewer resources.
These programs, and their benefits, extend beyond a written set of rules and policies. Companies use ethics and compliance programs to communicate company mission statements, goals and expectations; to encourage staff to share the same set of corporate values; and to drive their behavior in day-to-day business activities.
In part 4, Tom Fox poses a simple yet essential question: “why are we still talking about this?” Many of the policies and procedures required by law have been on the books for years and limited research in this area to date has shown that effective programs produce positive results in reducing misconduct. However, a large group of small and middle tier contractors that believe these programs are only for large government contractors, or they believe they lack expertise and resources to build and maintain appropriate programs. This has led to continued compliance and ethics lapses.
In the final episode in this 5-part podcast series, Tom Fox and Rod Grandon chat about how you can keep your compliance program fresh through ongoing monitoring. In short, “it comes down to being diligent and ensuring that whatever is put in place is effective.”
Related Blog Posts:
What is a Responsible Contractor?
Federal Contractor Responsibility