Portfolio Milestone Working Draft Legal compliance is an important part of running any business. Federal regulations govern numerous aspects of business, and labor and employment laws are among the most carefully scrutinized. The general laws for employee discipline, is a must and should be aligned with the goal of the organizational. These rules are different for different type of organizations. Financial industry is sensitive as it demands a very high level of conscientious and discipline. Especially financial sectors like banks involve dealing with lots of cash and money transaction, both physical cash and online e-money, which needs lots of discipline and integrity on the side of the employee. This is very important, it should be clearly defined and what type of action to be taken if somebody violates the general rules of the business. This paper outlines historical perspective, impact to organization, as well as recommendations to ensure consistency going forward. Profile of Organization OppenheimerFunds, Inc. has been in busy for over 57 years and has built a respected name for themselves. The Company is known as of the one of the nation’s major investment companies which was founded in 1959, and is one of the countries …show more content…
The positive aspects is that is builds positive work culture and team spirit, it promotes consistency in the organization and reduces conflict, it improves efficiency and productivity of the organization, it increases morale and motivation of employees at work and it increases employee retention. If there is inconsistent discipline, it potentially will bring about a negative impact such as it impacts the work in the organization and hampers productivity, it builds on a negative environment and spoils work culture and it may result in an increased turnover rate. In addition, inconsistent disciplinary actions can cause conflicts amongst