NEW YORK, March 5, 2015 /PRNewswire/ -- As the pharmaceutical industry works to address an evolving set of regulations, Ethics & Compliance professionals are placing a significant emphasis on company values, according to a new survey issued today by LRN, the leader in Ethics & Compliance advisory services and education. An overwhelming majority of respondents expressed that clarity on company values is by far the most important component of E&C training programs (57%), trumping understanding of the PhRMA code (5%), clarity on legal rules (16%) and even compliance with FDA and DOJ regulations (22%).
LRN, which helps organizations meet their compliance obligations, shape ethical behavior, and strengthen culture and leadership, polled pharmaceutical E&C professionals on a number of topics at CBI's Pharmaceutical Compliance Congress held on March 3-4, 2015 in Washington, D.C.
"The survey findings support a transformation we're witnessing, as an increasing number of organizations and their senior leadership begin to recognize the crucial importance of values and ethics as an integral foundation of their compliance programs," said Jean-Marc Levy, President, Ethics & Compliance Solutions at LRN. "While respect for the law and regulation is of course a fundamental requirement of compliance, striving to build a values and ethics-based culture rather than simply a 'compliant' organization can inspire employees to work hard, think big, and do the right thing. This can have a profound and lasting impact - a work environment where compliance is just a natural outcome of living the company values."
According to the survey, this focus on values doesn't mean that the pharmaceutical industry eschews regulatory obligations. In comparison to other industries, more than three-quarters (78 percent) of E&C professionals believe that pharmaceutical regulations are doing a better job at fostering ethical outcomes and protecting the public.
Despite this finding, when asked which laws, rules or regulations have the least significant impact on creating ethical employees, 34 percent indicated that hospitality and entertainment rules are least impactful, followed by adverse health effect reporting rules (32 percent), improper inducement laws (21 percent), and off-label use guidelines (13 percent).
"It's important to note the consistent connection that Pharma companies make between ethical behavior and efforts to protect consumers, such as the off-label use guidelines," said Dr. Marsha Ershaghi Hames, of LRN's Education Advisory Services. "Based on our research, we've found that continuing to emphasize mission and values, through a variety of educational formats, truly does lead to a culture of compliance."
To view the findings from this survey or to learn more about LRN visit: http://pages.lrn.com/PharmaSurvey2015
Methodology
The survey was conducted on-site at CBI's Pharmaceutical Compliance Congress in Washington, D.C. from March 3-4, 2015 and is intended to represent the views of 104 E&C professionals, who participated in the in-person interviews.
About LRN: Inspiring Principled Performance Since 1994, LRN has helped over 20 million people at more than 700 companies worldwide simultaneously navigate complex legal and regulatory environments and foster ethical cultures. LRN's combination of practical tools, education, and strategic advice helps companies translate their values into concrete corporate practices and leadership behaviors that create sustainable competitive advantage. In partnership with LRN, companies need not choose between living principles and maximizing profits, or between enhancing reputation and growing revenue: all are a product of principled performance. LRN works with organizations in more than 100 countries and has offices in Los Angeles, New York, London, and Mumbai.
For more information, visit www.LRN.com, find us on Twitter @LRN, or call: 800 529 6366 or 646 862 2040
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LRN, which helps organizations meet their compliance obligations, shape ethical behavior, and strengthen culture and leadership, polled pharmaceutical E&C professionals on a number of topics at CBI's Pharmaceutical Compliance Congress held on March 3-4, 2015 in Washington, D.C.
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"The survey findings support a transformation we're witnessing, as an increasing number of organizations and their senior leadership begin to recognize the crucial importance of values and ethics as an integral foundation of their compliance programs," said Jean-Marc Levy, President, Ethics & Compliance Solutions at LRN. "While respect for the law and regulation is of course a fundamental requirement of compliance, striving to build a values and ethics-based culture rather than simply a 'compliant' organization can inspire employees to work hard, think big, and do the right thing. This can have a profound and lasting impact - a work environment where compliance is just a natural outcome of living the company values."
According to the survey, this focus on values doesn't mean that the pharmaceutical industry eschews regulatory obligations. In comparison to other industries, more than three-quarters (78 percent) of E&C professionals believe that pharmaceutical regulations are doing a better job at fostering ethical outcomes and protecting the public.
Despite this finding, when asked which laws, rules or regulations have the least significant impact on creating ethical employees, 34 percent indicated that hospitality and entertainment rules are least impactful, followed by adverse health effect reporting rules (32 percent), improper inducement laws (21 percent), and off-label use guidelines (13 percent).
"It's important to note the consistent connection that Pharma companies make between ethical behavior and efforts to protect consumers, such as the off-label use guidelines," said Dr. Marsha Ershaghi Hames, of LRN's Education Advisory Services. "Based on our research, we've found that continuing to emphasize mission and values, through a variety of educational formats, truly does lead to a culture of compliance."
To view the findings from this survey or to learn more about LRN visit: http://pages.lrn.com/PharmaSurvey2015
Methodology
The survey was conducted on-site at CBI's Pharmaceutical Compliance Congress in Washington, D.C. from March 3-4, 2015 and is intended to represent the views of 104 E&C professionals, who participated in the in-person interviews.
About LRN: Inspiring Principled Performance Since 1994, LRN has helped over 20 million people at more than 700 companies worldwide simultaneously navigate complex legal and regulatory environments and foster ethical cultures. LRN's combination of practical tools, education, and strategic advice helps companies translate their values into concrete corporate practices and leadership behaviors that create sustainable competitive advantage. In partnership with LRN, companies need not choose between living principles and maximizing profits, or between enhancing reputation and growing revenue: all are a product of principled performance. LRN works with organizations in more than 100 countries and has offices in Los Angeles, New York, London, and Mumbai.
For more information, visit www.LRN.com, find us on Twitter @LRN, or call: 800 529 6366 or 646 862 2040
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pharmaceutical-ethics--compliance-professionals-place-company-values-front-and-center-300046265.html
SOURCE LRN
