In spite of a ‘renewed’ focus on corporate ethics going back to the Enron days more than a decade ago, we continue to see that unethical and/or unsafe behavior in the workplace has consequences:
Peanut Corporation of America = Lost lives and executives sentenced to prison.
Volkswagen = Tarnished reputation and market value decreases equaling billions of dollars.
There is a better way. Promoting safe and ethical behavior can be easy, effective and inexpensive. Note these quotes:
“It is more crucial than ever that companies have effective whistleblower hotlines as part of their corporate compliance programs …” Harvard Law School, Forum on Corporate Governance and Financial Regulation, October 25, 2014.
“…it is generally recommended that all organizations implement some type of whistleblower system for reporting wrongdoing. “ Society for Human Resource Management, April 14, 2014
“Tip lines are one of the most effective tools organizations possess for detecting and preventing fraud.“ Journal of Accountancy, August 1, 2013
“Managers and owners of small businesses should focus their anti-fraud efforts on the most cost-effective control mechanisms, such as hotlines…” Association of Certified Fraud Examiners, 2012 Report to Nations
Is your organization utilizing best practices? Are you leading?
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