The influence of one’s peers is usually considered as a pivotal factor when assessing the behavior of young adults, not the ethical culture in the workplace. None the less,
though it is imperative that management and those in supervisory positions exemplify the highest code of business ethics, it is not necessarily their behavior that dictates how their employees will behave in the moral arena. A network of peer relations contributes as much, if not more, how a given employee will answer a moral dilemma. With minimal contact, management may be outside of the zone of influence in setting ethical standards.

“The good news is that, according to our 2003 National Business Ethics Survey,more than eight in ten employees said that co-workers not only talkabout, but also carefully consider ethics in making business decisions.In addition, more than nine in ten said their co-workers model ethics and support them in following company ethics standards. Of concern,however, is that nearly one in three employees said their co-workers accept questionable ethics practices that result in business success.As a result, employees may be getting mixed messages about appropriate ethical behavior from their co-workers.”
(Source)

When United Way’s former president, William Aramony, was convicted for fraudulent practices, the organization developed an enterprise wide code of ethics that provides a sound outline for any organization to implement. Though the ethical culture of any given institution is largely determined by the practices amongst the employee’s network of peers, management must provide the template.

United Way developed the following guidelines:

• Preamble - a brief background statement that articulates the organization’s basic mission and values.
• Personal integrity - a pledge based on one’s own personal integrity that represents the organization’s commitment to dealing with others in a fair and truthful manner.
• Professional excellence - characteristics and behavior, such as respect for others, fair evaluation, and positive regard, that constitute professional excellence as a model for board, staff, and volunteers to follow.
• Accountability and responsibilities - an emphasis on good stewardship, the organization’s responsibilities to its constituents, and their responsibilities to the organization.
• Equal opportunity and diversity - establish the organization’s commitments in hiring and other personnel practices.
• Conflict of interest, personal gain, and expense reporting - the conflict of interest provision is of particular importance. It represents a strong value statement that all decisions will be in the best interests of the organization. It is a helpful reminder that individuals should evaluate their conduct and their decisions in light of their impact on the organization vis-a-vis the public and, more precisely, in light of how they might reasonably be perceived by others. These standards are the essence of any code of ethics, and they constitute core values helping to underscore that the public can place its faith in the organization’s basic integrity.
• Stressing the importance of buy-in from everyone involved and reevaluating the document every year help make your code of ethics a living document instead of something that sits on the shelf.

(Source)