Whistleblowers are affecting a lot of businesses and organizations or companies, most people believe they’re doing the right thing by reporting wrongdoings in a company. There are however some regulatory requirements for whistleblowers which must be followed if they don’t want to get themselves into trouble. Most governments are creating new rules regarding whistleblowers so as to challenge wrongdoings and illegal activities that are going on in a company or organization. There are a lot of things financial organizations need to know regarding the new regulations and they must comply with these rules in order to stay out of trouble.
There are whistleblower and reporting channels available for employees to report wrong activities going on in any institution. New rules are made to encourage employees to expose any wrong activity so that those responsible can fix the problem before it gets bigger. Majority of people won’t bother to report wrongdoings, especially if they believe they’ll suffer reprisals when they speak up. While those that have the courage to speak up and don’t know how the whistleblower’s regulations work they’ll be reluctant to come forward the issue.
Whistleblowers can get your company into trouble so you have to understand how to deal with them appropriately instead of making things worse, here are some actionable steps to take when dealing with a whistleblower;
You Should Listen To Their Complain
One of the best ways to deal with a whistleblower is to listen to his or her concerns. Let him describe what he is going through, and don’t rush to make judgments. Even if you believe they’re at fault don’t conclude that they’re wrong, take some time to think, during your meeting with any whistleblower. Take down all the important points they’re talking about before making any decision.
After your meeting with a whistleblower, as an employer don’t make any judgment within the first meeting, you should tell the whistleblower that you’ll review all the mentioned allegations and will report back after going through all the details and conducting proper investigation, let him know that you’ll be in touch with him throughout the process. He will also be allowed to follow up regarding the matter. Every action that’s taken should be documented at every stage of the process.
Investigate The Matter Properly
You need to investigate the problem in a fair manner so that you can come up with a fair solution. You should document all the investigative reports that they might use when things get out of hand and reach the court. When you’re done with your investigations you can then talk with the whistleblower and describe to him what you came up with during your inquiry, though you don’t need to provide a lengthy explanation to the whistleblower on how you came up with the results, just explain briefly why things happened the way they happened.
If his allegations were rejected he might request to know why. Employers and company representative should be careful as to limit disclosure on how they conducted their investigation and why they rejected his allegations. You should document all your communications with the whistleblower.
If the whistleblowers’ allegations turned out to be true, then you should be honest and take all the necessary steps that are needed in order to fix the problem. You should thank them or even apologize and let them know that you’re always open to hearing from them when there is a problem within the company. To show them you’re concerned you should consider awarding them for forwarding the issue to you. This is one of the best ways to deal with whistleblowers.
Most employers and company representative make the mistake of ignoring whistleblower claims because they believe they’re in charge and they look down upon the whistleblower. Employers might think they are the employee is powerless to do anything. As soon as the whistleblower mobilizes other people and legal action is taken, that’s when companies will start getting serious on the matter and by that time it is too late because whistleblowers have gathered all the required evidence that’s required in the eyes of the law. Before you know it a lot of damage has been done to your company. That’s why it’s important to listen to and address the concerns of any whistleblower as soon as possible.
If you have a problem with a whistleblower visit us at Massey & Duffy to learn how to deal with the matter legally without causing any damages.