Increased Focus on Transparency
04/06/2019 12:08 PM
The new whistleblower laws offers benefits far greater than simply the protection of whistleblowers.
Corporate cultures of silence, which nurture the turning of a blind eye to wrong doing, only weakens the organisation’s performance.
Strong governance on the other hand, which openly supports the reporting of wrongdoing, is evidence of governance aligned with high performance.
The most recent report of “Strength of organisational whistleblowing processes – Whistling While They Work 2 (Survey of Organisational Processes & Procedures 2016)”, reported in July 2017, stated
“Again, while many organisations reported have a strategy for protecting staff who raise wrongdoing concerns, 22.8% (especially 32.7% of private businesses and 33.9% of not-for-profits) reported having no specific strategy, program or process for delivering support and protection to staff.”
The challenge for boards and the leadership team includes how better to professionally managing the growing risks and cultural issues experienced by many organisations.
Without the embedded openness, then there will continue to be inadequate and fuzzy information flows to senior leaders and directors alike.
Every organisation, regardless of the law, should have proper internal processes for handling good or bad information. This to be at all levels of the organisation.
Remember, an effective information transparency, including a whistleblowing program, demonstrates your board’s authentic commitment to fostering a robust governance regime within the organisation.