On 9 March 2015, the Ethisphere Institute, a group aimed at defining and advancing the standards of ethical business practices, announced its 2015 World’s Most Ethical Companies. Hypertherm has been listed for the first time as one of 11 new companies that made the list, and the manufacturer of plasma, laser, and waterjet cutting systems is now one of two in the Machine Tools and Accessories section.
‘This honour underscores Hypertherm’s commitment to meeting the highest ethical business standards and practices, ensuring long-term value to key stakeholders including our associates, customers, and communities,’ said Evan Smith, Hypertherm’s CEO and president. ‘Transparency, honesty, and integrity — long a part of Hypertherm’s core values and included in our Code of Ethics — define who we are as individuals and as a company.’
The World’s Most Ethical Companies is a distinction that honours superior achievement in transparency, integrity, ethics and compliance. The assessment is based upon the Ethisphere Institute’s Ethics Quotient (EQ) framework developed to provide a means to assess an organisation’s performance in an objective, consistent and standardised way. Scores are generated in five key categories: ethics and compliance program (35 per cent), corporate citizenship and responsibility (20 per cent), culture of ethics (20 per cent), governance (15 per cent) and leadership, innovation and reputation (10 per cent).
‘Companies today are challenged by a complex and often conflicting set of laws and regulations around the world, yet despite the lack of a global rule of law there’s a growing commonality about how to do business the right way,’ explained Ethisphere’s CEO, Timothy Erblich. ‘More and more, we’re finding that stakeholders from employees and customers to executives and investors understand that ethical leadership drives outcomes ranging from operational performance to corporate integrity, transparency and workforce behaviour. We’re delighted to honour these companies who not only understand the various components of what makes a company ethical but are dedicated to building an environment that makes it so.’
The full list of companies include Applied Materials, Ford Motor Company, Rockwell Automation, Google, and Elbit Systems of America. The latest list includes 132 companies representing more than 50 industries spanning 21 countries and five continents.