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Pushing ethics to the top of its priority list has paid off for CBRE Group Inc., which has a long history of strong reputation management practices.
Recently named one of the world’s most ethical companies by an independent assessor, the Ethisphere Institute, the global commercial real estate firm takes corporate values, which have a direct impact on business practices, exceptionally seriously. Those values inform processes, procedures and prioritization of compliance, risk management, communications and client security.
At the heart of the effort is the CBRE RISE program, standing for “Respect, Integrity, Service, Excellence.”
The company’s 44,000 global employees receive quarterly training sessions in ethics and compliance, delivered either online or in person. A compliance officer exists for each country where the company does business—55 in all.
“If you hold up your individual corporate values, that will empower your people to feel confident and make the right decisions in difficult circumstances,” said Tyson Avery, chief ethics and compliance officer for CBRE, a Yardi client.
“There’s no cookie-cutter commercial real estate transaction, and the same is true with the risks that we face. All scenarios are a little different.”
Avery identifies cloud security, corruption, conflicts of interest and data privacy as all being areas of relatively high risk for global companies. Hence the prioritization by CBRE of best practices, which is enhanced not only by the frequent training sessions but maintenance of a hotline/helpline where employees can anonymously report any concerns.
Ethisphere’s “World’s Most Ethical Companies” are recognized for their policies and actions, including ethical business standards and practices, exceeding legal compliance minimums and being industry leaders. For 2014, Jones Lang LaSalle Inc. and Reology Holdings Corp. were also recognized in the real estate sector. Marriott International was among the honorees in Leisure and Hospitality.
