EY: The number of corporate abuses may also increase in Hungary due to the global economic slowdown

By: Trademagazin Date: 2024. 06. 14. 12:04

More and more domestic companies are consciously taking action against corruption within the organization. However, the slowdown of the world economy puts such financial pressure on managers and colleagues, which makes it easier for them to commit violations despite their efforts to operate ethically, according to EY’s international research involving a total of 5,464 employees and board members in 53 countries, including Hungary.

According to a third (34%) of Hungarian respondents, compliance with ethical standards at the workplace has become stricter in the last two years. Nine out of ten respondents (87%) are convinced that their colleagues do their work honestly and in compliance with all rules. The positive change is primarily due to the tightening of management requirements (44%) and the tightening of the legal environment (21%), but the rising expectations of customers (15%), the public (15%) and colleagues (15%) also contributed to the improving trend.

As everywhere in the world, in Hungary as well, managers and subordinates are under serious pressure to achieve the designated financial goals despite the slowing economic growth. For this reason, more than a third of domestic respondents (39%) believe that the risk of abuse may increase in their company, and a similar proportion (36%) of those who believe that some managers would violate ethical guidelines in the hope of short-term profit.

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