Advantages of a Whistleblower Reporting System: Part V - For Compliance Practitioners

Over this special five-part podcast series, I have visited with Dr. Kyle Welch, Assistant Professor at George Washington University (GWU), on his recently released paper, co-authored with Stephen Stubben, Associate Professor from The University of Utah, entitled “Evidence on the Use and Efficacy of Internal Whistleblowing Systems” (Report). In this paper, Welch and Stubben reviewed some 15 years of anonymized data from NAVEX Global, Inc., the sponsor of this podcast series. This data was from the company’s hotline reporting systems. Some of the key findings included that companies with a robust whistleblower and reporting system had greater profitability and workforce productivity as measured by Return on Assets (ROA) and there were fewer material lawsuits brought against the company overall and there were lower settlement costs if a lawsuit did occur. Finally, there were fewer external whistleblower reports to regulatory agencies and other authorities. This podcast series has taken a deep dive into the Report. Today, we bring it all by considering what it means for compliance practitioners. The sponsor of this special five-part podcast series is NAVEX Global, Inc. Learn more about your ad choices. Visit megaphone.fm/adchoices