Last week Siemens paid a $1.6 billion fine for its bribery violations. The New York Times’ writers Siri Schubert and T. Christian Miller wrote an excellent article about it entitled “At Siemens, Bribery Was Just a Line Item.”
Corporate identity is a source of pride in the best organizations. It is a factor that contributes to connection and employee engagement. When a company’s identity is tarnished like Siemens has been, it rubs off on employees’ identities too. Siemens’ leaders can recover provided they develop a culture that places a high value on integrity, honesty and justice. If they do, it will improve employee and customer engagement. If they fail to do this, I would not be very optimistic about Siemens’ future.
