What Constitutes a Conflict of Interest?
A key element of The Alaris Way is our Anti-Bribery / Anti-Corruption and Ethical Business Conduct Policy. This important document sets forth the company’s expectations and requirements of all directors, employees and associates in their dealings and interactions with one another and with current and prospective vendors, customers, and business partners. It is a clear guide to the proper way to conduct business on behalf of Alaris Aerospace.
One of the areas addressed in the Ethical Business Conduct Policy explains how to identify and avoid potential conflicts of interest. But just what IS a conflict of interest?
Well, simply stated a conflict of interest occurs when an individual's personal interests – family, friendships, financial, or social factors – could compromise his or her judgment, decisions, or actions in the workplace. A person who is in a position to derive personal benefit from actions or decisions made in their official capacity has a conflict of interest.
Such conflicts interfere with the individual’s objectivity and ability to perform his or her duty in the proper manner. Therefore, actual conflicts of interest must be avoided; even the appearance of a conflict of interest can be harmful.
Conflicts of interest can include, but are not limited to:
- Having a second job
- Performing services outside of Alaris
- Serving as a director or consultant to other companies or contractors
- Membership in a political organization
- Having a close relation or personal connection within Alaris
- Holding a financial interest in a customer, contractor, supplier, competitor or similar entity
The activities and associations of close relatives and friends can sometimes create conflicts of interest, as well. A “close relative” means a spouse, partner, parent, step-parent, child, step-child, sibling, step-sibling, cousin, nephew, niece, aunt, uncle, grandparent, grandchild, or an in-law, or other person, where a legal or common law relationship exists.
If you own a material financial interest in a competitor, vendor or customer of ALARIS, you must disclose that fact to your immediate supervisor or the leadership team.
You may have a conflict of interest if your outside activity – even if unrelated to Alaris and its business – is so demanding on your time that it interferes with your job performance. Such an activity is prohibited. You must also disclose to your immediate supervisor and the leadership team whether you serve or have been solicited to serve as an agent of or consultant to, or as a director, officer, or part time employee of a company that competes with or conducts business with ALARIS, or that seeks to do so.
In the assessment of your activities and interests, keep in mind that even the most conscientious person may be unconsciously influenced, and the mere existence of that interest may cause the propriety of your actions to be questioned by others both inside and outside the company.
If you believe you may have a potential or actual conflict of interest, it is your responsibility to report such a matter to your immediate supervisor or the leadership team for review. Under appropriate circumstances, conflicts may be waived, or safeguards may be put in place to ensure they are properly managed.