MassMutual Recognized for Ethical Business Practices
SPRINGFIELD — Massachusetts Mutual Life Insurance Co. announced that it has again been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2015 World’s Most Ethical Company, the second consecutive year MassMutual has received the honor.
In 2014, MassMutual was the first mutual company in the life-insurance-industry category to be honored with this distinction. This year, the company remains the only mutual named World’s Most Ethical in the life-insurance-industry category.
“Being named a World’s Most Ethical Company again this year is an honor that reflects our culture of ethics and integrity that is core to who we are as a company,” said Roger Crandall, chairman, president, and CEO of MassMutual. “For generations, our policyowners and customers have placed their trust in us, and we are proud of our employees and financial professionals who demonstrate these values through helping people secure their future and protect the ones they love.”
The World’s Most Ethical Company designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company. “At MassMutual, this distinction validates the high value we place in our organization on ethical business standards, practices, and governance,” said Crandall.
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient (EQ) framework, developed over years of research to provide a means to assess an organization’s performance in an objective, consistent, and standardized way. To determine its World’s Most Ethical Company list, Ethisphere scores companies in five different categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%), and leadership, innovation, and reputation (10%).
“The World’s Most Ethical Companies embrace the correlation between ethical business practice and improved company performance. These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World’s Most Ethical Companies recognition involves more than just an outward-facing message or a handful of senior executives saying the right thing,” said Ethisphere CEO Timothy Erblich. “Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at MassMutual for this extraordinary achievement.”
The full list of the 2015 World’s Most Ethical Companies can be found at ethisphere.com/worlds-most-ethical/wme-honorees.