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Key Benefits of an Ethics Hotline

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By Rod Lacey, MySilentWhistle / Sunstone HR

Are you considering implementing a whistleblower hotline?

Believe it or not, a whistleblower hotline is actually quite an easy and economical tool to incorporate into your corporate governance. Fraud, waste and abuse can all be detected early by incorporating a system for reporting ethical shortcomings. Additionally, if employees are able to report on wrongdoing anonymously, the organization will learn of the challenges earlier than they would have otherwise.

Public companies are required to have a whistleblower program in place to satisfy SOX. However, even if your company isn't public, a hotline can still benefit any organization. In fact, smaller companies suffer more fraud and other wrongdoing than their larger public counterparts, so having a whistleblower program in place makes good business sense.

Here are some of the key benefits an organization and employees will experience after implementing a ethics hotline:
Learn of the miscond…