May as Well Stamp a Big "F" on Their Compliance Programs! According to Transparency International UK, out of all of our planet's major defense companies, two-thirds are failing in their endeavour to combat corruption in their business operations. Perhaps one could argue that they aren't trying at all considering the improvements in industry practices over the past three years.
No matter your organization size, fraud will rear its ugly head, it's just a matter of when. Smaller companies are especially hit harder when fraud strikes. But many feel they don't need a whistleblower program to fight fraud. Read on to learn about 6 interesting facts about fraud supporting why you do need a whistleblower program!
Implementing a strong ethics and compliance program with a 24/7/365 anonymous hotline is one of the best tools an organization can utilize to stop unethical behaviour in its tracks. In a recent study by Ernst & Young, 1 out of every 5 American workers possessed some sort of personal knowledge about wrongdoing in their place of employment. And a great organization that has upper management’s complete support of a whistleblower system and encourages it’s employees to come forward and anonymously report instances of wrongdoing won’t have too much of a hard time keeping employees motivated and productive in their jobs.