Transparency sparks continued success for global manufacturer
SPARTANBURG, S.C. – Milliken & Company, a global innovation company with textile, specialty chemical, and floor covering manufacturing expertise, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World’s Most Ethical Companies.
Named to the World’s Most Ethical Companies list for 12 years, Milliken has received this honor every year since the award was first given in 2007 – one of only 12 companies included on the list since its inception.
“It is an honor to be recognized by the Ethisphere Institute as a values-based company among other prestigious organizations,” shares Milliken & Company President, CEO and Chairman, J. Harold Chandler. “We consider a commitment to a disciplined and consistent culture of ethics and fair play to be a competitive advantage in the global marketplace. Our 7,000 associates are grateful for the recognition extended to our company.”
Integrity has always been core to Milliken’s business practices, and in 2017, the company looked to advance its integrity further through radical transparency. Milliken sparked meaningful discussions around issues facing various industries – one visible marker being the re-certification of a Continuing Education Unit (CEU) addressing ethical issues in the architectural and design communities. With the implementation of a new LEEDv4 credit on materials transparency for floor covering, Milliken emphasized its role as an environmental steward and helped re-frame what was thought possible for healthier environments. As the first-ever honoree named to the America’s Safest Companies Hall of Fame, presented by EHS Today, Milliken showcased the value of protecting our associates for the betterment of our communities. Moreover, Milliken began strengthening communities worldwide with the advent of Milliken Gives, a three-pronged program fostering community engagement through significant and impactful connections that best suit the preferences of Milliken associates.
In 2018, 135 honorees were recognized by Ethisphere, spanning 23 countries and 57 industries. The 12th class of honorees had record levels of involvement with their stakeholders and their communities around the world. Measuring and improving culture, leading authentically and committing to transparency, diversity and inclusion were all priorities for honorees.
“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World’s Most Ethical Companies in particular continued to show exemplary leadership,” explained Ethisphere’s CEO, Timothy Erblich. “I congratulate everyone at Milliken for being recognized as one of the World’s Most Ethical Companies.”
Ethics & Performance
Once again, the 2018 World’s Most Ethical Companies have proven that operating with integrity leads to greater financial performance. Research has found that, when indexed, listed World’s Most Ethical Companies outperformed the U.S. Large Cap Index over five years by 10.72 percent and over three years by 4.88 percent. Ethisphere refers to this as the Ethics Premium.
Methodology & Scoring
The World’s Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent) and leadership, innovation and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2018 World’s Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees. Best practices and insights from the 2018 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
For over 150 years, Milliken has been innovating with the purpose to explore, discover and create ways to enhance people’s lives. With expertise across a breadth of disciplines, including specialty chemicals, floor covering, and performance and protective textiles, we work around the world every day to add true value to people’s lives, improve health and safety, and help make this world more sustainable. For more information, visit www.milliken.com, and join us on Twitter (@MillikenandCo), Facebook and Instagram (@MillikenandCo).
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.