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Conflict of interest policy
- Originally Published:
- Aug 2016
Many IT departments hire independent contractors to work on certain projects to reduce costs and obtain expertise that the in-house staff doesn’t have. However, when a contractor takes on work from other parties, a conflict of interest could arise. This policy establishes the ground rules that will allow a hired consultant to work on a project for another party. Permission for such a situation is at the company’s discretion and is dependent on meeting the policy requirements.
From the policy:
The details provided within this policy outline the guidelines for information and project disclosure.
This policy applies to all hired independent consultants pursuing a contract outside the company.
The company reserves the right to allow certain exceptions to the guidelines offered herein. These exceptions are to be discussed with the hired consultant’s supervisor/hiring manager and/or human resources prior to commencement of additional projects.
Penalties for violating the Conflict of Interest Disclosure Policy will vary depending on the nature and severity of the specific violation. Any consultant who violates this policy will be subject to:
- Disciplinary action including but not limited to reprimand, suspension, and/or termination of the contract.
- Civil or criminal prosecution under federal and/or state law, when applicable.
- Policy details.
- Disclosure guidelines.
1. disclose and/or request permission to engage in a consulting contract outside the company that meets the criteria for conflict of interest, including:
- Work or projects that conflict with your work schedule, duties, and responsibilities.
- Work that impairs or has a detrimental effect on your work performance.
- Work that requires you to conduct outside work on company property during company hours and/or using company facilities or equipment.
- Work that competes directly or indirectly with the interests of the company.
- Work with a competitor or partner of the company.
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