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.
These Five P's Have Perfect Potential! Defining the ethics policy in your organization is part of establishing an effective ethics hotline. There are a variety of different codes, different names, styles and content. Some are concise and straightforward and some are more detailed and are accompanied by an ethics program.
Are you considering implementing a whistleblower hotline? There's much to take into account regarding features and benefits of an outsourced program compared to an internal system. You've got to think about budget, resources, an implementation plan, training and report review, response and analytics. There's a lot to consider when getting ready to launch a whistleblower system. What policies and codes need to be developed to support the system? What types of reporting do you need? How do you measure success? And of course, how important is an anti-retaliation policy?