Factors to Consider When Creating Your Company’s Policies

In building a company, it is important that you set a solidified set of rules and regulations that clearly define the company’s goals, objectives, workplace processes and other expectations by the company from the employee, stakeholders, etc. These rules and regulations become your company’s policies – what will become your foundation for decision-making, company behavior and operational processes. 

However, how can a management team ensure that the company policies that would be put in place are able to encompass all the needed operational and management requirements?  
 
Here at D&V Philippines, we use a holistic approach to go about our company policy making, making sure our leadership team consists of management from every department and that every proposed policy is looked at from any angle.  
 
How do we do this?  

 
Creating Your Company’s Company Policies  

Understand the Purpose of your Policies 

First and foremost, you should first determine the “why”. Why are you creating policies for the entirety of your company to adhere to?  
 
At D&V Philippines, our primary reason for creating a company policy is to build a structure that will support our mission of providing a high-quality and cost-effective service.  

We aimed to set expectations and ensure compliance with regard to any legal and regulatory requirements that apply to our nature of work, our location and other factors that affect our operations. 

 
Aside from this, we also determined that there is a need for a standardized set of policies to make sure that we create a consistent framework for all employees to follow to effectively standardize day-to-day work processes, creating uniformity in all company documents, outputs, etc.  

Knowing all this, D&V Philippines’ management and leadership team created policies that are able to cater to these requirements and are ultimately aligned with our core values.  

Read: The Importance of Operations Excellence and How it Contributes to Company Growth 

Creating Your Company Processes 

Once you’ve determined the purpose of your policies, your company can now go ahead with process creation. During the creation process, there are 4 essential factors to consider in your policy- making.  

Legal and Regulatory Compliance 

The first thing your company should do is make sure your policies are compliant with any legal and regulatory requirements that are essential in your industry. For D&V Philippines, our policies strictly adhere to business process outsourcing and finance and accounting regulations.  

This includes considering employment laws, health and safety regulations, data protection laws and finance management practice laws that are applicable to our company here in the Philippines and to the ones that are applicable to our clients’ locality and industries.  

In our policy creation, we worked closely with our legal professionals to make sure that our policies encompass considerations for all the applicable laws and regulations stated above. Alongside this, D&V Philippines regularly review any updates in all applicable laws and regulations to make sure that our policies remain compliant and relevant at all times.  

Alignment with Company Values and Culture 

Upon the creation of your company, you probably determined a few core values and your mission and vision. Whether it be that you aim to promote a healthy work culture or that you aim to be the pioneer company in your industry, it is important that you take all these into account when creating your company policies. 

 
At D&V Philippines, we have made it a point to clearly define our core values and our principles and align all our processes to them. We make sure that our working guidelines such as our hybrid work arrangements, company benefits, and company activities promote the flexibility and positive work culture we aim to embody, and that our operational and organizational structure integrates it effectively as well.  

In aligning your policies with your company values, you can keep your company grounded in these values, showing your employees, stakeholders and clients that you take your values and culture to heart.  

Policy Structure and Clarity 

Outside the quality of your content, its relevance to current times and its integration of your values, the technicalities of your policies should also be well ironed out. Keep in mind that while the main goal of your policies is for them to work as a basis to keep you grounded in your goals, it also must be easily understandable for your employees and stakeholders, and clients.  
 
With this, D&V Philippines makes sure that the structure and clarity of our policies are consistent from start to finish. We use clear and professional language meant to concisely convey each policy’s important points and organize it in a way that makes sense to all readers. We also ensure that the policies are specific and actionable – where readers understand how to completely integrate it into their personal workflows.  

Read Next: Perspective of a CTO: Benefits of Technological Growth for a Company 

Stakeholder Involvement and Communication 

Before finalizing your policies and putting them into effect for company-wide compliance, it is important that you gather insights and support from all your company’s stakeholders.  

Why? This is because your stakeholders share your company’s goals and vision and can offer you a holistic perspective when it comes to how best to achieve these. In this regard, D&V Philippines, makes sure that we solicit feedback from our stakeholders to see that our policies address their own interests, needs and concerns as well.   

We identify our stakeholders as our employees, our board of directors, our clients and our leadership team and make sure that all our policies are relevant for each.  

Once we have ironed out our policies, we then make sure we clearly communicate the content of our work policies upon implementation. Instead of simply expecting our employees to immediately adhere to it, we provide communication channels and informational dialogues to make sure they understand the policies completely, how they can implement it into their work processes and the repercussions of non-compliance. 
 
 

Need a Partner who Provides Consistent Quality Services? 

D&V Philippines provides scalable finance and accounting outsourcing solutions and access to talent that makes sure your business’ operations is top priority. If you’re interested in learning more about our services, schedule a free consultation with us or download our Employees to Partners whitepaper to see how our talents can be your assets too! 

This article has been written in collaboration with Aly Tagamolila, a content specialist at D&V Philippines.