Most whistleblowers find themselves on the firing line for turning the spotlight on unethical practices, especially when their identity is given away by the recipients of their reports. Consumed with the fear of victimization and job loss, an employee who could have blown the whistle on an unethical practice may decide to turn a blind eye to such misconduct.
This disposition accounts for why companies that are cracked up as too big to fail find themselves on the wrong side of the law, experience cash flow problems, grapple with reputational damage and ultimately file for bankruptcy.
Based on the 2020 survey conducted by the Association of Certified Fraud Examiners, tips were reported as the most common way of detecting occupational fraud. Tips have the highest percentage score of 43%, followed by an Internal Audit review, which was rated 15%. These statistics lend credence to the importance of tipoffs in cropping the perpetration of fraud or misconduct in the workplace.
In taking this a notch higher, companies that are poised on maintaining an ethical workplace are beginning to subscribe to an anonymous reporting platform. This is considered a stellar approach compared to directly reporting to a line manager, who might be conflicted or connected to the case being reported. Hence, the recipe for boosting employees' morale in speaking up on misconduct is to deploy an anonymous reporting channel.
Download full article Here - The Anonymous 360-Degree Whistleblower.
This article was first published in The Guardian Newspaper on March 2nd, 2021 and then in Deloitte on March 3rd, 2021