Learning Workplace Ethics at College

Learning Workplace Ethics at College

Lying, cheating and stealing. Dishonesty is an unfortunate fact of life in the workplace today. But at some colleges and universities this is less of a problem. Can corporations and government learn something from them about honorable behavior?

Yes, says William R. Johnston, president of the New York Stock Exchange. "There's an old Wall Street expression: 'Your word is your bond,'" says Johnston.

"Washington and Lee University provided me with a very good foundation for trading on the floor of the Exchange. There are no lawyers, no accountants, no contracts," he says. "The only contract is that you say you sold it, I say I bought it. We put down our badge numbers, and that's our contract. That's as simple as you get. And we do over 500 million shares a day, to the tune of $25 billion. And it's all done by word of mouth. No 30-page documents. Honorable behavior is ingrained in me. W&L was a major part of instilling these values in my life," says Johnson, a member of the W&L Class of '61.

Company managers and government agency supervisors would be wise to take a page out of the book at Washington and Lee in Lexington, Virginia. At W&L, most final exams are un- supervised, the library and almost all buildings on campus are open 24 hours a day, and students can leave their personal belongings unattended and find them where they left them.

Sound too good to be true? Washington and Lee puts its faith in the Honor System. It was established 133 years ago by then-university president Robert E. Lee, whose personal credo was "do what is right." Conduct based on honor alone may seem like a relic in a cynical age of antitrust trials, allegations of perjury, illegal fund raising and insider trading. Does it work?

"Absolutely," said Donald McCabe, associate provost of Rutgers University, Newark, and founding president of the Center for Academic Integrity, which conducts surveys of the effectiveness of honor codes at colleges and universities. "Of the four schools with the best honor codes, Washington and Lee rises to the top. In almost every category, it's ranked number one. Absolutely, W&L is doing an outstanding job relative to all the other schools I've surveyed," said McCabe.

Larry Peppers, dean of the Williams School of Commerce, Economics and Politics at W&L, points to the difference the Honor System makes. "It's most unusual for a business school to have an honor code. Personal integrity is the single most important business asset when multi-million-dollar deals are closed with a handshake. The Honor System at W&L sets our alumni apart."

It also gives W&L alumni an edge in the job market. "In almost all sectors of finance on Wall Street--from the trading-floor trenches to brokerage houses and investment banks citywide--there is a W&L presence to rival the Ivy League enclave that has long dominated the investment-banking industry," said Peppers.

But the proof of the pudding is how graduates of Washington and Lee University put the Honor System to work daily in their careers. In addition to Johnston, consider the examples of the following alumni who are prominent in their fields: a top securities industry CEO, a United States Senator, and a best-selling author.

* Robert H. Yevich (W&L Class of '70), president and CEO, Tucker, Anthony & Company. The concept of honor and integrity has been deeply rooted in Yevich's mind. "My parents did it first and the honor system at Washington and Lee reinforced it," he says. "It's a nice beacon to live life by those ideas. It makes all the interpersonal relationships that much easier. We deal in verbal contracts where hundreds of millions of dollars are traded over the phone. You've got to be able to trust the voice on the other end of the line. It's critically important. People in our business say, 'I may disagree with you, I may not like you, but at least I can trust you.'"

* U.S. Sen. John W. Warner (W&L Class of '49), R-Va.. Senator Warner proudly tells the story of his father's deathbed wish that he attend either Washington and Lee or the University of Virginia, because of their honor codes. (Warner received his undergraduate degree from W&L and went on to UVA's law school.) "A career in public life is a road strewn with temptation. The Washington and Lee honor code, which I first learned at the knee of my father, who was a 1903 graduate of W&L, never failed to give me strength," Warner says.

* Tom Wolfe (W&L Class of '51), best-selling author. "It's amazing how effective being honorable is when you insist upon it the way they do at Washington and Lee University. If any business firm actually got their forces together and insisted that their people not lie, cheat or steal they'd find out how effective it is. They just never bother to do it," said Wolfe.

Washington and Lee's Honor System is administered entirely by students. It is the most enduring influence on the men and women who attend the 250-year-old university. Larry Peppers, Dean of the Williams School of Commerce, can tell you more about its value in the workplace as we prepare to enter a new millennium.

Additional alumni examples in business and government can be provided. Contact: Larry Peppers at 540-463-8602 or at [email protected]. Or get in touch with Brian Shaw in the W&L news office at 540-463-8459 or at [email protected].