Whistleblower hotlines the new "must have" technology?
In a recent benchmark report, conducted by the Society of Corporate Compliance & Ethics (SCCE), and the Healthcare Compliance Association, there is an increase in the willingness of employees to come forward and raise concerns internally through whistleblower hotlines, and directly to management, rather than to the government.
According to this survey, 37% of 677 compliance and ethics professionals polled said their organizations experienced an increase in hotline calls.
51% said the volume of these hotline calls remained the same.
This trend was more pronounced among publicly traded companies, likely due to the fact that these companies are mandated to have a whistleblower hotline in place under US requirements of Sarbanes Oxley and Canadian Multi-Lateral Instrument 52-110. Of these companies, 56% reported an increase, whereas 33% reported hotline volume calls remaining the same.
Increased employee confidence.
This is exciting and positive news for compliance and ethics officers. The SCCE's Chief Executive Officer said these findings "show that more employees are willing to come forward when they see something wrong at work, and more are willing to trust that they will be listened to objectively.”
It seems that the majority of employees are willing to give their employers a chance to fix problems. They are more comfortable with reporting their perceived wrongdoings in-person to management. According to the survey, 58% of the compliance professionals surveyed said they observed an increase in all means of incident reporting, including directly to management.
The report also found that about 18% of respondents reported an increase in anonymous calls over the past two years. And with publicly traded companies, anonymous calls remain steady with not much change. A positive incline at any rate.
As we increasingly give attention to encouraging employees to come forward and report any perceived wrongdoing, and push for employers to investigate these incidents, more employees seem to be stepping up to the plate and sharing their observations. Certainly, as the statistics state, not in leaps and bounds, but a steady incline nonetheless.
Customized whistleblower hotlines really do exist!
It's important for companies to respond effectively and efficiently to their employees' reports of wrongdoing. If employees feel that their complaints, reported internally, go unanswered or ignored, then employees can quickly lose faith in their employer and go outside the organization and turn to the government to report the incident.
It's in the best interest of the employer to really take the time to investigate reported incidents quickly and efficiently and remedy them as soon as possible. This way, the potential for costly legal bills, lost time, and negative press is avoided.
It's so important for organizations to adopt an anonymous ethics reporting and compliance system. Giving employees the tools to report on any wrongdoing without fear of retaliation goes along way to show how integral employees are to the organization.
Having an ethics reporting company such as Whistleblower Security on your side goes a long way. Whistleblower Security is committed to promoting a culture of integrity, collaboration and transparency for all our employees and clients. With a 24/7/365 whistleblower hotline, employees can be assured that all of their ethical concerns will be heard and addressed.
Learn more about the easy implementation of an ethics reporting system by downloading a complimentary copy of our eBook today.