Compliance culture is a critical part of any organization’s success, regardless of its size, industry, or location. Companies prioritizing compliance programs are better equipped to manage risk, protect their brand and reputation, and maintain trust with clients and relevant stakeholders. Creating a compliance culture takes time and strategy, so we put together a list of tips to help you develop yours.
Most of us now understand that whistleblowing is an act of courage, where an employee reports alleged misconduct or illegal activities. However, for some the result of speaking up is retaliation from the employer and co-workers. For most organizations, retaliation against whistleblowers is a matter of when and not if. This reality highlights the critical need for leaders to implement strategies to manage retaliation allegations while minimizing risk to the organization.
How does an Internal and External Hotline Differ? When a company has implemented a whistleblower helpline, or fraud intake hotline, often times it's the person on the other end of the phone number that is the only contact point for the caller. Not only does the person on the other end of the phone represent the company that has implemented the program, they also represent the the program itself. Because of the nature of subjects, or topics the call center takes care of - handling incoming complaints that can range from common theft all the way up to very serious allegations of fraud and harassment - we've decided to discuss what a successful helpline looks like and compare an outsourced third-party call center to an in-house company operated number.
Whistleblower policies are the pillars of any organization, providing a mechanism for internal control systems and compliance. Without transparency about wrongdoings, a company can fall apart quickly as they face scandal and financial and legal repercussions beyond repair.
What is a Whistleblower Helpline? FAQs The term whistleblowing has been part of our lingo for many years. Previous connotations of the word would include snitch, rat, tattle tale. Any variation of what some would consider a person who wants to get someone else in trouble by volunteering information about that person of a sensitive or illegal nature. Today, many businesses may shy away from a 'whistleblower hotline' due to the perception that the very word may still invoke some negative connotations.
Scandals come in various magnitudes and can plague an organization’s reputation, leading to severe legal and financial consequences. As businesses increasingly compete in the global market, new risks can arise with different stakeholders that must be identified and managed appropriately. Let's explore some anti-corruption compliance best practices to ensure that your company takes a strong stance against misconduct to avoid detrimental repercussions.