Conflict of interest in organization
Conflict of interest come up whenever the personal and professional or business interests of an employee are potentially at odds with interests of Organization. Now-a-days organization looks into the potential interest into the employees and try to involve them into the particular field so that they can give the best output of it.
All employees are required to act in good faith towards Organization. Employees need to be aware of the potential conflict of interest to arise, and should always act in the best interests of Organization.
As individuals, employees may have private interests that from time to time conflict, or appear to conflict, with their employment with Organization.
Employees should aim to avoid being put in a situation where there may be a conflict between the interests of Organization and their own personal or professional interests, or those of relatives or friends. Where such a conflict occurs, the interests of Organization will be balanced against the interests of the staff member and, unless exceptional circumstances exist, resolved in favor of Organization.
It is impossible to define all potential areas of conflict of interest. If an employee is in doubt as to whether a conflict exists, they should raise the matter with their manager.
Procedure
• Employees must declare any potential, actual or perceived conflicts of interest that arise or are likely to arise during employment by <<<>>> to management;
• Employees must avoid being placed in a situation where there is potential, actual or perceived conflict of interest if at all possible.
If an employee declares such an interest, Organization will review the potential areas of conflict with the employee and mutually agree on practical arrangements to resolve the situation.
Employees must disclose any other employment that might cause a conflict of interest with Organization to their manager. Where there are external involvements that do not represent a conflict of interest, these must not affect performance or attendance whilst working at Organization.
If such involvement does affect performance or attendance it will be considered a conflict of interest.
Engaging in any other business interests during work hours will result in strong performance improvement action.
Employees must not set up or engage in private business or undertake any other employment in direct or indirect competition with Organization using knowledge and/or materials gained during the course of employment with Organization.
Failure to declare a potential, actual or perceived conflict of interest or to take remedial action agreed with Organization, in a timely manner, may result in performance improvement proceedings including dismissal.