Establishing a culture of integrity, ethics and respect is the number one priority for companies in 2017, according to a new report. In common with the 2015 report, getting an organisation's culture right is the main objective for compliance professionals in the year ahead, with 85 per cent of respondents saying it is one of their three main goals.
However despite this, only 32 per cent of firms indicated that they are planning to undertake a culture or ethics assessment in the next twelve months. In addition, workplace behaviour was rated as the lowest area of risk receiving attention by stakeholders (29 per cent).
Download the full report for additional stats on board level reporting, increasing compliance programme awareness and satisfaction with third party risk management.
Good analysis and benchmarking of hotline data helps organisations answer crucial questions about their ethics and compliance programme, including:
Does our culture support employees who raise concerns?
Are our communications with employees reaching the intended audiences and having the desired effect?
Are our investigations thorough and effective?
Do we need more training?
Do we need to review or update our policies?
Do employees know about our reporting channels?
Comparing internal data year over year to help answer these questions is important. But getting a broader perspective on how your performance matches up to industry norms is critical. This year’s analysis of our EMEA & APAC data from nearly 14,000 ethics and compliance hotline reports revealed key data points that compliance professionals can use to benchmark and assess their programme’s performance, and move toward predictive risk mitigation.
Compare your employee reporting metrics and measure your compliance programme & organisational culture against 4.5 million reports. Get answers to questions like: Are your employees likely to speak up? Are there reports of misconduct you’re missing? Does fear of retaliation encourage external reports?
NAVEX Global's key findings in the following areas:
Report allegation categories
Anonymous vs named reporting
Follow up and substantiation rates
Case closure times
Good analysis and benchmarking of hotline data helps organisations answer crucial questions about their ethics and compliance programme.
Comparing internal data year over year to help answer these questions is important. But getting a broader perspective on how your performance matches up to industry norms is critical. To help, each year NAVEX Global takes anonymised data collected through our hotline and incident management systems to create these reports. This particular report is the second NAVEX Global benchmark report we have published that focuses specifically on the status of ethics and compliance hotline services in the EMEA and APAC regions. This benchmark only takes reporting data from organisations that has its data warehoused in Europe—a subset of the data used in our global hotline report.