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Conflict Of Interest
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Click here to view a video that explains the conflict of interest in the workplace.
You probably may have wondered what exactly is a conflict of interest.
Conflict of interest is a situation in which a person has a private or personal interest that appears to be in conflict with the interest of another person. Taken by themselves, there is nothing wrong with pursuing private or personal interests.
The problem comes when this interest comes into conflict with that of another person.
This situation interferes with each party’s objective professional judgment. Responsible employees are expected to be professionals that are objective. Factors, like private and personal interests that either interfere or appear likely to interfere with objectivity, are then a matter of legitimate concern to those who rely on professionals – be they client’s employers, professional colleagues, or the general public. So, it is also important to avoid apparent and potential as well as actual conflicts of interest. An apparent conflict of interest is one in which a reasonable person would think that the professional’s judgment is likely to be compromised. A potential conflict of interest involves a situation that may develop into an actual conflict of interest in time.
“Disputes of Right” and “Disputes of Interest”
Especially in the workplace, two main types of disputes have been noted (although these two types may also happen in other situations). These are:
“Disputes of right”, where people or groups are entitled by law, by contract, by previous agreement or by established practice to certain rights. Disputes of right will focus on conflict issues such as employment contracts legally enforceable matters or unilateral changes in accepted or customary practices. A dispute of rights is, therefore, usually settled by legal decision or arbitration and not by negotiation.
“Disputes of interest”, where the conflict may be a matter of opinion, such as where a person or group is entitled to some resources or privileges (such as access to the property, better working conditions, etc). Because there is no established law or right, a dispute of interest will usually be solved through collective bargaining or negotiation.