I just finished a year serving on the board of my local Rotary Club and our president bought us plaques with the Rotary Four-Way Test printed on them. I am a rotary member and a Rotarian. What does that mean? It means that I live by the Four-Way Test in my work and in my life. My decisions in my business begin with the Four-Way Test.
Created in 1932 by Herbert J. Taylor for a business he was asked to save from bankruptcy, the Four-Way Test came from a desire to set the company apart by establishing this simple code of ethics the employees could use to make better decisions. The Four-Way Test provides direction and gives staff the ability to make their own decisions.
The test is composed of four questions.
First, is it the truth?
How do we apply this question to our work and in our office? When I meet with clients, I ask whether what I am hearing is the truth. Estate planning is often about the relationships in a family and business and less about the value of assets or accounts. It is not easy to be vulnerable when speaking of relationships that are not doing well and are not expected to improve. If I sense that someone is withholding information, I will ask questions that give someone the opportunity to be more forthcoming. If we can have an open and honest conversation with our clients, we can work together. If we cannot, then we must part ways.
This same test works with regard to vendors as well. Often the truth may be that a system is not working well for us or for them and needs attention. We cannot fix a system when we are unaware of a malfunction. Open and honest communication is key to prioritizing repairs for systems which are not working properly.
Dishonesty is not the best policy
Believe it or not, sometimes we encounter people who are dishonest. We rely on information we are given when making decisions about strategy. Dishonesty whether it is blatant or concealed by omission hampers our ability to help effectively. This is true with clients, employees and people we interact with in our community. As a business, we have systems and steps that are followed. The systems provide protection against dishonesty. For example, I know what our team will say and do in many situations. Therefore, when someone tells me that they were told something different, I have reason to be suspicious. We also record all of our calls. We use recorded calls for training. I also can and do check conversations for the truth.
“First, is it the truth?” is also a question that shows up when we receive calls from people who feel that they are in crisis. Often, these are calls made long after action should have been taken and little can be done to change the outcome. An example would be after someone passes when they have been placed on hospice and are no longer aware of their surroundings. The truth in those situations is that something should have been done long ago.
When I used to spend many hours in court in trial with clients, it was not uncommon to hear some fact or bit of evidence that was not favorable to my client of which I was completely unaware. The client would often withhold these facts because they were embarrassed or perhaps believed that the opposing side would not find out about the unfavorable information. In those moments, I would feel the empty void, the pregnant silence as the jury and judge find out a truth about the client and I am trying to hide the surprise that undoubtably was visible in my eyes as I thought hard for a reason or way to respond.
Our firm’s ethics rest on the Four-Way Test
At our firm, we practice the Four-Way Test which means that we offer what we believe to be the truth in every conversation whether it is favorable for us or not. That means we will refer someone to another professional if we are not the right resource for them. The truth is an ethical standard we look for daily and, by doing so, the right decisions are more clearly visible.
Try it and let me know where the question: “Is it the truth?” helps you this week.
