Compliance at Groz-Beckert
The importance of compliance at Groz-Beckert goes beyond the legal requirements. It acts as a guide for responsible action and sustainable corporate governance.
Compliance: The red thread to sustainable success
Groz-Beckert's values consist of five principles: We act seriously, quality-consciously, fairly and cooperatively and innovatively at all times.
Compliance is at the heart of these values, whereby not only the applicable laws and regulations of the countries in which we operate are strictly adhered to, but also our internal guidelines and our Code of Conduct are conscientiously monitored and followed. Groz-Beckert lives compliance both within the family business and externally.
On this page you will find out more about how compliance is anchored and practiced at Groz-Beckert.
Our Compliance Management System
With our Compliance Management System (CMS), we ensure corporate integrity at Groz-Beckert. In accordance with legal requirements, we apply clear principles and targeted measures to ensure that our managers and employees behave in accordance with the regulations and to prevent significant breaches of the rules.
You can see the fundamental elements of our CMS here:
Compliance culture
Compliance culture
The importance of compliance is reflected in its inclusion in our Group strategy. But "culture eats strategy for breakfast". Compliance must be anchored not only strategically, but above all culturally. Our corporate culture, shaped by values, standards and traditions, influences decisions and actions. Groz-Beckert's goal is to establish a compliance culture that promotes, supports and strengthens the willingness to act in accordance with the rules.
Compliance objectives
Compliance objectives
The primary objective of the Groz-Beckert CMS is to create a group-wide framework that through an established compliance structure and process organization prevents risks of violations of the law and deviations from internal guidelines (pillar 1), identifies them at an early stage (pillar 2) and minimizes them through appropriate measures (pillar 3). Our House of Compliance forms a cycle from laws and the Code of Conduct to internal processes and controls in order to avoid liability and reputational damage.
Compliance organization
Compliance organization
Groz-Beckert has established a compliance organization to ensure that all business units worldwide comply with applicable laws, regulations and internal policies. This organization continuously monitors the legal requirements in the various countries in which Groz-Beckert operates and promotes compliance with ethical values such as integrity, fairness and sustainability. The compliance organization is presented in more detail below.
Compliance monitoring and improvement
Compliance monitoring and improvement
Compliance at Groz-Beckert is monitored and improved through continuous supervisory measures and optimization processes. Our focus is on ensuring adherence to the compliance guidelines and continuously adapting them to changing requirements. Through regular reviews and adjustments, we strengthen our compliance system and ensure the continuous improvement of compliance with laws and internal standards.
Compliance communication
Compliance communication
We regularly provide information about the Groz-Beckert CMS and its contents via the various communication channels available to ensure that all employees are aware of the CMS, understand their role in it and are able to fulfill it properly.
Compliance risks
Compliance risks
Taking the compliance objectives into account, we identify potential compliance risks that could result in breaches of the rules to be observed and therefore a failure to meet the compliance objectives. The procedure is complemented by systematic risk identification and reporting.
Compliance program
Compliance program
The compliance program at Groz-Beckert ensures compliance with laws and guidelines through a variety of measures, including training, e-learning, guideline management, informative contributions in the employee app to raise awareness and other interactive offerings. In addition, the program is continuously adapted to current topics and legal developments. The program promotes transparency within the company and provides clear reporting channels for employees in the event of potential violations.
Code of Conduct
We measure the success of Groz-Beckert not only by economic results, but also by principles based on set values. We act responsibly and correctly, comply with the law and international agreements, and exemplify this attitude every day.
This Code of Conduct summarizes this commitment. It provides us with guidelines in our daily, professional actions as employees, managers and colleagues and serves as a compass in our dealings with our customers, suppliers and partners.
Our Code of Conduct applies to everyone at Groz-Beckert, at all levels of the organization and everywhere in the world. We also expect our business partners to follow the principles of Groz-Beckert’s Code of Conduct.
Our compliance organization
The Supervisory Board is responsible for monitoring the Management Board.
The Management Board of Groz-Beckert KG bears overall responsibility for compliance in the Groz-Beckert Group.
The Compliance function implements, monitors and improves the Compliance Management System. It works closely with specialist managers, Compliance Responsible Persons and the Compliance Committee. The Compliance function is the point of contact for employees and managers regarding compliance issues. In national subsidiaries, responsibility lies with the local Compliance Responsible Persons. The Compliance function conducts internal investigations into suspected compliance violations and takes appropriate measures if a violation is identified.
Each department is responsible for its assigned compliance topic. Process owners ensure compliance with laws and internal company guidelines. The Compliance Responsible Persons in the Group companies are responsible for implementing compliance requirements in their local companies. They determine the compliance program on the basis of compliance risk assessments and implement the necessary measures. They are supported in this by the Compliance function.
The Compliance Committee is located centrally at Groz-Beckert KG. It consists of representatives from the Compliance function, Legal, Tax, Data Protection, ARGUS, Human Resources and IT and monitors and improves the Compliance Management System. It meets at least once every six months at the invitation of the Compliance function. It can be convened on an ad-hoc basis if necessary, e.g. in the event of serious breaches or changes in the legal situation.
Learn more about Compliance at Groz-Beckert
Discover how our whistleblower system, sustainability initiatives and effective supplier management help to promote a responsible corporate culture.