Lack of communication! It's a phrase that's often heard in the workplace. Office-dwellers have said it, even more of us have heard it. But how does this phrase translate into the success of a whistleblower hotline or ethics reporting program?
Whistleblowers actually have a lot of power. They just aren't aware of it. In a recent survey by the Ethics & Compliance Initiative, nearly a third of participants who were surveyed, who did witness misconduct, chose not to report it.
Corporate compliance officers put quite a busy 2018 behind them at the end of the year, getting grips on some head-spinning events ranging from the #metoo movement, to getting up to speed with GDPR compliance regulations, and creating all the policies and procedures that speak to these new concerns and regulations, and how their companies need to address them.
What happens in Vegas stays in Vegas, right? Not at the CEI event last week. Because many of the visitors who came by our booth were either in need of a whistleblower hotline, or were wanting to leave their current provider. It's a conversation that was communicated during some of the sessions, and a conversation we had with numerous visitors to our booth. Compliance programs, big or small, need a whistleblower program.
This year's Annual Compliance Week Conference certainly delivered with powerful insights and ideas. Taking over the main floor of the historic Mayflower Hotel, many ethics and compliance professionals were not only looking forward to networking with other industry professionals, they were eager to listen to one speaker in particular.
Ultimately it's the communities who suffer Not-for-profits are considered important by much of the population and many Canadians believe they improve quality of life. Communities rely on the hard work produced by not-for-profit organizations. Unfortunately, not-for-profit organizations are susceptible to misunderstanding of policies just like any other organization. And when policies are not administered correctly, fraud can happen. According to the 2014 Report to the Nations on Occupational Fraud & Abuse published by the ACFE, not-for-profits reported much lower median losses than their for-profit counterparts. Well this makes sense as for-profits are focused on revenue vs. community service. However, that doesn't mean that not-for-profits aren't easily harmed by fraud. Any form of misconduct can take away the focus of much needed programs to communities, as well as eliminating essential funding from governments and communities they serve. That could mean the downfall of that organization.