Code of Conduct
How can a company keeps its employees from engaging in conflict of interest? The first step a company must take for this is to develop a code of conduct. It should be clearly mentioned in the conduct that how an employee should tackle these situations. Bribery, data protection, social interactions and all conflicts should be addressed in the code of conduct. Another way is to provide ethical training to the employees. Encourage formal reporting procedures in your organization. This will help employees in reporting any major or minor issue regarding conflict of interest.