8. WBN Conflict of Interest Policy and Procedure
I. Purpose
The purpose of this policy is to protect the interests of Work Better Now. In the regular course of business, agents, VAs and Staff at Work Better Now may have the opportunity to advance their own personal interests with or against the interests of Work Better Now. Acting in such a manner is unacceptable and any party who acts outside of Work Better Now’s best interest may be subject to disciplinary action, including dismissal.
II. Procedure
Duty to disclose
Every VA and staff of Work Better Now is obligated to disclose any known or potential conflicts of interest as soon as they arise. Failure to do so could result in dismissal.Investigating potential conflicts
When a possible conflict of interest arises, the CEO will collect all the pertinent information and may question any concerned parties. If the CEO determines that a conflict exists, steps will be taken to address to conflict. If no conflict exists, the inquiry may be documented but no further action will be taken.Addressing conflicts of interest
When an actual conflict of interest is found, any transactions that may have been affected will be reviewed retroactively. Affected parties both within and outside of the business, including shareholders, staff, and VAs will be notified. An investigation will also be conducted by the CEO to determine the extent of the conflict and the intentions of the parties involved.If the conflict in question involves a member of the management team, such a member will be excused from the deliberations.
Disciplinary action
As all conflicts of interest will be reviewed on a case-by-case basis, a review may result in disciplinary action. The Management Team has full discretion to deem what disciplinary action is both fitting and necessary, including suspension and/or dismissal.Examples of conflict of interest (please note this list is not exhaustive):
Hiring an unqualified relative to provide services WBN needs.
Starting a company that provides services similar to WBN.
Failing to disclose that you’re related to a job candidate WBN is considering hiring.
Making arrangements to work for a vendor or client at a future date while continuing to be a WBN VA or Staff or after a minimum of 2 years after terminating employment with WBN.
Posting to social media about WBN weaknesses.
Offering paid services on your time off to a WBN Client or supplier.
Working part-time at a company that sells a competing product or service as WBN.
Accepting payment from another company for information about WBN.
Failing to investigate a subordinate or coworker’s wrongdoing because they are a friend.
Sharing confidential information about WBN with a competitor.
Dating or having a romantic relationship with a supervisor or subordinate.
Making a purchase or business choice to boost a business that you have a stake in.
Accepting a favor or a gift from a client.
Owning part of a business that sells goods or services to WBN.
Reporting to a supervisor who is also a close friend or family member.
Doing business or work for a competitor.
Accepting consulting fees and providing advice to another company for personal gain.
Sharing information in an interview about WBN’s activities or plans.
Taking advantage of confidential information learned on the job for your own benefit.
Cashing in on a business opportunity that WBN might have pursued.
While employed by Work Better Now, WBN VAs are expected to devote their energies to their jobs with the Company. The following types of employment elsewhere are strictly prohibited:
•Additional employment that conflicts with an WBN VA’s work schedule, duties, and responsibilities at the Company.
Additional employment that creates a conflict of interest or is incompatible with the WBN VA’s position with the Company; including consulting.
III. Acknowledgement
The VA/Staff understands the procedure for conflicts of interest with Work Better Now, including their duty to disclose any known or potential conflicts.
Furthermore, the staff/VA agrees to abide by the procedures outlined in this policy for the duration of their professional relationship with Work Better Now.
Conflict of Interest Policy and Procedure
Date Created: September 2022
Last Updated: May 2023