Whistleblower Pulse Audit
Effective management of whistleblowing should now be non-negotiable. Laws have expanded whistleblowing protections, as well as sizable penalties for any failures to look after whistleblowing.
Boards and leadership teams should acknowledge the important role that whistleblowing have in helping companies identify, detect and prevent unlawful or unethical activity. Authentic whistleblowing programs show the commitment to support a “speak up culture” which values employees’ opinions. It also sends a clear message that any illegal or questionable behaviour will not be tolerated. This creates a culture of trust and transparency.
Additionally, it serves as an early warning system for management to address issues before they become extensive and entrenched.
When employees are fearful or, do not have appropriate channels to report wrongdoing internally, some may resort to posting in social media. The potential is reputation and brand damage, as well as a loss of hard-earned community trust.
Whatever the laws, there are big gains in embracing an effective whistleblowing program as part of the organisations sound governance practices.
The time to act is now. Robust whistleblowing frameworks support good governance practices. All boards need to exhibit a strong interest in flagging corporate misconduct early. Once identified it can be addressed and hopefully prevented from recurring.
Does your organisation have:
- a whistleblower policy which has been fully communicated to all staff?
- a process for anonymous reporting?
- an adequate process for responding to any report received?
- adequate protection for whistleblowers?
If you do not have a program as yet, then contact us to make a start. If you do have a program then use our Governance Intelligence® Whistleblower Pulse Audit to measure the effectiveness of your whistleblowing program today.