Whistleblowing Hotlines | Corporate Governance | Expolink

Corporate Governance

An effective whistleblowing hotline procedure is an essential part of your corporate governance program. It should promote an open, honest and accountable culture amongst all employees where they can express their concerns without fear of victimisation or termination of employment. A system that encourages people to communicate and listen to each other makes up part of an effective risk management system.

Why a whistleblowing policy is essential for your corporate governance strategy

Your whistleblowing policy must be consistent with other relevant policies and procedures (for example; contracts of employment, existing disciplinary codes, codes of conduct/ethics, rules on the provision and acceptance of gifts and hospitality, grievance and internal complaints procedures).

Corporate governance is a broad church and involves all departments and employees. The breadth of a corporate governance program will be reflected in the size of your business, the nature of your operations, the countries you supply and deal with and to an extent, the company’s mission – but the fundamental processes and considerations for best practice will be similar. Some organisations will have a whole department dealing with internal audit, compliance and ethics-related activity. Others may simply have only an ethics champion or it may fall under the remit of human resources. Having a whistleblowing hotline or ‘speak-up’ program in place affords protection and gives stakeholders and employees confidence in your commitment to good corporate governance and best practice.