Benefits of a whistleblowing system
Minimise risk & Change attitudes
Allow your employees to report wrongdoings and offensive behaviour and increase your chances of solving problems at an early stage.
Reduce costs & Enhance your brand
Prevent damage by making wrongdoings less likely to occur. Demonstrate dedication to high ethical standards by allowing people to speak up about alleged wrongdoings.
Ensure legal compliance
An increasing number of laws all over the world requires organisations to establish a system for whistleblowing.
Common challenges & how to solve them
It is difficult to speak up about unethical behaviour, such as harassment and corruption, without access to a reporting channel that allows for secure and anonymous reporting. Many potential whistleblowers fear for repercussions or contempt.
Staying silent is costly:
- Fraud and corruption are key global issues: a typical organisation loses 5% of its annual revenues due to fraud. (Association of Certified Fraud Examiners, Study of 2016)
- The #Metoo campaign has put companies and organisations at risk all over the world – with large branding and reputational consequences.
Organisations need efficient and secure tools to ensure that employees, suppliers and other stakeholders may report anonymously, allowing for dialogue with an anonymous whistleblower.
Benefit 1: minimise risks & change attitudes
Corruption and harassment have become business-critical issues, all over the world. Company boards and management teams need tools that enable them to prevent and act upon harassment within their organisation. Having a secure whistleblowing service in place is a way of demonstrating dedication to high ethical standards, allowing people to speak up about alleged misconduct. Various studies show that maintaining a solid commitment to high ethical standards is crucial to preserving a decent image.
Benefit 2: reduce costs & enhance your brand
A secure whistleblowing system is the solution to prevent wrongdoings. Nearly 40% of all fraud cases were detected through whistleblowing tips, according to the Association of Certified Fraud Examiners. The longer a fraud lasts, the greater the financial damage it causes. Significant savings can be made: organisations that did not have a whistleblowing service in place suffered losses that were twice the size those who did have a whistleblowing system in place.
Benefit 3: ensure legal compliance
An increasing number of laws all over the world require organisations to establish a system for whistleblowing. The WhistleB whistleblowing system aligns with the forthcoming EU General Data Protection Regulation, the strictest such law in the world.
Why whistleblowing matters
Key tool for the board
“A Whistleblowing function that members of staff can trust is a key sustainability tool for the board. It is important that irregularities… can be reported anonymously, for example through an independent external third party.” Leif Johansson, chairman of Ericsson and AstraZeneca, former CEO of Volvo and Electrolux. Quote from the handbook “Sustainable Profit” by the founders of WhistleB, Whistleblowing Centre
“The most powerful weapon against fraud is not an algorithm or a checklist, but a whistleblower.” The Economist
Wrongdoings are less likely to occur
”To stifle whistleblowing is to harm the business. Bad news tends to come out eventually, and looks worse if it appears that bosses tried to suppress it. Apart from which, wrongdoing is less likely to occur in the first place if employees know that their bosses are more inclined to hug a whistleblower than to put him in a headlock.” The Economist