What Does Absolute Integrity Mean at nVent?
At nVent, our six Win Right values reflect how we do business and interact with those around us. They are central to our success. Absolute Integrity is a core part of our values system—but what does Absolute Integrity mean and how does it affect what it is like to work at and do business with nVent?
Absolute Integrity means we are committed to honest and ethical business practices in our dealings with customers, business partners, investors, communities and each other. Our Code of Business Conduct and Ethics, which was recently updated, provides the framework for these behaviors and is available in 13 different languages. In 2022, 100% of our professional employees and 80% of our total population completed training on the Code. Our revised Code provides expanded information on ESG considerations, inclusion and diversity, use of social media, and the important role that managers and leaders play in building awareness of ethical behavior. In the past two years we have trained 100% of our people leaders on ethical leadership.
Our Ethical Moments program provides managers with resources for leading conversations with employees about key ethics areas, including conflicts of interest, human rights and modern slavery. In 2022, we expanded access to our Ethical Moments program and made it available to more employees, including production employees, by building a new toolkit of resources and using a train-the-trainer approach. The program uses hypothetical situations to encourage discussion about ethical decision-making aligned with nVent values and policies as well as our Code. For example, in 2022, we introduced an Ethical Moments module focused on recognizing risks and taking action to prevent modern slavery in our supply chains.
At nVent we believe that Speaking Up to ask questions or raise concerns is key to building a culture of Absolute Integrity. We prohibit any form of retaliation against anyone reporting in good faith. We take all reported concerns and questions seriously and we will handle them promptly, discreetly and professionally. Because we are committed to maintaining an environment where everyone feels comfortable Speaking Up, we have numerous resources available to employees who want to Speak Up.
The nVent External Helpline is available for both employees and external parties to report potential violations of our Code, our policies, or the law. It is administered by an independent company to allow for confidential communication online and through the phone 24 hours a day, seven days a week in local language. It also provides the option to make anonymous reports as permitted by local laws. We review and address 100% of the reports received through our helpline.
Conducting our business ethically and with Absolute Integrity requires a commitment to being diligent about selecting our suppliers. In 2022, we trained 90% of employees in procurement roles in responsible and sustainable sourcing practices. The training included how supply chain planning decisions and actions impact our ESG efforts, the benefits and importance of sustainable procurement and key policies governing the protection of human rights, prevention of forced labor, adherence to requirements for conflict minerals and screening of restricted parties, among other important considerations.
Our Win Right values impact how we behave every day and Absolute Integrity is critical to how we operate at nVent. As we grow, we remain committed to acting with integrity and being an ethical partner to our customers, suppliers, employees and communities.