DON'T GET SCREWED!
By Peter Neville Lewis, Nov 23 2018 03:19PM
“Corporate affairs, Financial affairs, Office affairs, Personal affairs – they are very different OR are they?
A 2017 study of whether personal ethics influence business ethics has concluded that there is a clear link between sexual misconduct and corporate malfeasance or failures in corporate behaviour.
A trawl through users of a well known US dating site for married persons found that a Regulator’s list of over 1000 financial advisers with records of serious misconduct were twice as likely to have indulged in marital infidelity. Hmmm....
Personal Data collected from the SEC between 2010 -2015 with regard to those involved in Ponzi schemes and boiler rooms found the sample to have twice to three times the propensity for misconduct as other execs with a financial background.
And, surprise surprise, when the researchers ran the stats on CEOs and CFOs the same bias appeared – sexual misconduct leads to financial and corporate infractions.
These findings are further confirmed by a 2018 study – Predators in the Boardroom: sexually predatory behaviour has a strong negative correlation with investment outcomes.
Are YOU being Screwed?
All the above stats are male dominated.
So where may you ask, do women feature in all this? Obviously nowhere near enough – in the right way - since any number of research pieces have shown that female judgement is more balanced, more risk averse and more prudent.
Their investment decisions often outperform their male counterparts.
Surely HR departments and Nomination Committees should be having a stronger say and be on the look out for these worrying male traits.
Do they in fact do enough background checking on personal behaviours?
Or is it just about performance?
Hiding behind a “boys will be boys” mantra is not only out of date it demonstrates weak moral standards which can potentially damage the interests of every stakeholder.
Don’t let personal affairs or office affairs screw (pun intended) your corporate affairs!”
Pedro the Jester
Why The Corporate Jester?
Because there is always a need to “call it out”, point out the emperor’s clothes may not be quite so fancy as he thinks (or others are telling him) and boldly say what others dare not!
The role of court jester was well known centuries ago and they had the licence to attack pomposity or stupidity in their betters without fear of retribution. (Well nearly!) Many of Shakespeare’s plays have a fool who is the commentator on human foibles – the most famous probably being in King Lear, the architect of his own downfall through his wilfulness. Familiar?
May not an ass know when the cart draws the horse? (Fool – King Lear, Act 1 scene 4)