Hey did you hear Brangelina are splitting? It's blowing the Internet apart! We just had to put our two cents into this one. Because the entire world is talking about it and the internet is literally blowing up right now. Speculation is running rampant!
When your company culture is attacked, it's easy to lay blame elsewhere Seemingly, this is how an article is being perceived, where the Wells Fargo CEO is defending the bank's culture, and pointing fingers at 'bad employees'. Wells Fargo employees secretly opened unauthorized accounts to hit sales targets and receive bonuses. These actions were undoubtedly fueled by the policies and benefits used to motivate employees.
When pressure to meet targets ends in a wide-spread scandal Customers should be able to trust their banks. In many scenarios, 'did you make your numbers' translates to finding creative ways to make the numbers. And in many cases being creative takes precedence. Nobody understands that more than Walt Pavlo. As the Sr. Manager in billing collections, he felt the pressure to grow the company's revenue and ended up being caught up in one of the largest accounting frauds in American history. When it comes to fraud committed by executives and employees, three factors play a major role in enabling this to happen:
A whistleblower report came in about what?!? You've implemented a whistleblower third-party ethics reporting system. You know that whistleblower tips are the #1 method of detecting fraud and abuse. Your employees are a valuable source of information on the inner workings of the company, and you've worked hard to ensure they feel comfortable coming forward to file a report in your system. Things are running swiftly along. You're receiving legitimate anonymous reports and because of them, policies and processes are being improved, making the company more successful.
Developing an anti-fraud culture is crucial in the fight against fraud. A fraud policy is an important tool used to communicate an organization's position, and processes, when it comes to fraud. It outlines what will happen if fraud does strike. Does your organization need one? Can your organization operate without one? What if fraud did strike and you weren't prepared? Don't think it can't happen. Fraud does not discriminate.
Let's break it down so thinking about it doesn't hurt quite so much! Excuses! We've heard them all. "An ethics reporting system is WAY too expensive." "An ethics reporting system isn't a priority right now." "Ugh, too much work..." Here's the thing. It's actually quite simple really. Companies may be thinking about hotlines, web portals. Then there's mail! What about faxing?