Policy is an articulation of institution-wide principles and a guide for employees on how to respond to a range of scenarios. It is an essential tool for institutions to manage relationships, improve productivity, and promote a culture of excellence. It also enables organizations to craft practical mechanisms that supplement existing laws and regulations.

Developing company policies requires thoughtful analysis of current protocols and statutes, as well as stakeholder input. The process of constructing a new policy takes into account the organization’s mission, vision, and values. It also examines how the policy will support employee growth and development, as well as compliance with relevant regulations.

The policy-making process includes the following phases: Agenda-setting: The process where key issues are identified and prioritized for public discourse and governmental action. Formulating: The process of translating policy proposals into actionable regulations by government agencies and departments. Implementing: The process of enacting policies by executive bodies. Evaluating: The process of assessing policy outcomes and making adjustments to enhance effectiveness.

Once a policy is drafted, it’s critical to ensure that the document is clear for all stakeholders. It should include a purpose section, scope, and responsibilities, outlining who the policy affects and the steps for complying with it. Adding these sections helps make policies comprehensive and easy for employees to understand. It’s also important to link the policy to all standard operating procedures that offer step-by-step instructions and checklists on processes related to it. These are the guiding documents that help new employees quickly acclimate to the company’s operations and ensure that all policies are being followed.